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Geppy's Geppy Thread (GBP/JPY)

  • #10,661
  • Feb 7, 2014 3:37am Feb 7, 2014 3:37am
Quoting IveGotQuads
{quote} Nice , I never trade the news. Maybe occasionally I might fade but right now I moved SL to BE , hopefully it doesnt get whipsawed and stops me out. I pray it moves straight down. GL on your trade Cheers !!
I also am not a news trader but if i'm in a position at what i believe to be the turn of a move i'll brave the news because my strategy rules have certain guidelines that wont let the market just do w.e it wants and if it does my losses will be small. I think it's safe to say we survived another news wire
Taking responsibility means believing that your outcomes are self-generated
  • #10,662
  • Feb 7, 2014 3:47am Feb 7, 2014 3:47am
It is so often the fact on this day of the month that direction is not clear until nfp does its thing
  • #10,663
  • Feb 7, 2014 3:47am Feb 7, 2014 3:47am
Quoting Jcandle
{quote} I also am not a news trader but if i'm in a position at what i believe to be the turn of a move i'll brave the news because my strategy rules have certain guidelines that wont let the market just do w.e it wants and if it does my losses will be small. I think it's safe to say we survived another news wire
Yeah moved SL back to normal spot , but men those are some really long bullish wicks. But with geppy its important to stay on course. That was a really sweet entry you got there at 106.09 , so much room. I am more cautious if I dont have the 15 min 200 EMA to bounce off of, so I wait for a little confirmation. But nice trade there
  • #10,664
  • Edited 4:44am Feb 7, 2014 3:48am | Edited 4:44am
Quoting IveGotQuads
{quote} Hmm interesting analysis although my charts differ, both short term and hrly charts indicate bearish bias. The question is momentum if you ask me. I went short at 166.93 based on PA but when we look at what the swing or Moving average traders are looking at we can clearly see the 50 SMA where a bunch of confluences prevail like the fib , 167.00 psych round number,trend lines, former support turned into resistance and so on. If we can just get a break from the constant news cycle that will be great so we can all make some pips. Ive already...
I still think there's more downside on this pair. However today is Friday it may just go the other way. PA rules. Within 167.76 is still a due correction in the downtrend. In the longer term I tend to be more bearish for the GBP. This data doesn't support an interest rate hike in Jan 2015.
  • #10,665
  • Feb 7, 2014 3:49am Feb 7, 2014 3:49am
anyway going back to sleep, the market can do what it wants ive done the best I can. Goodluck guys and happy pip hunting.
  • #10,666
  • Feb 7, 2014 6:22am Feb 7, 2014 6:22am
Woke up to a sideways ranging market...closed trade for 2+ pips. Arguements could be made for taking the initial 40+ pips, but letting your winning trades run is a fundamental rule in my strategy. Hopefully we get more opportunities later, Cheers
  • #10,667
  • Feb 7, 2014 6:23am Feb 7, 2014 6:23am
Quoting IveGotQuads
Woke up to a sideways ranging market...closed trade for 2+ pips. Arguements could be made for taking the initial 40+ pips, but letting your winning trades run is a fundamental rule in my strategy. Hopefully we get more opportunities later, Cheers
Yeah I did the same thing, think i got about 1.5 pips. Was trying to short.
  • #10,668
  • Feb 7, 2014 6:27am Feb 7, 2014 6:27am
Quoting edindzeko
{quote} Yeah I did the same thing, think i got about 1.5 pips. Was trying to short.
yeah If you look at USd/Jpy its not a good sign for shorts. Ill probably trade the breakout of this channel building here. But ill wait for the pull back continuation pattern before entry . ill post if I do
  • #10,669
  • Feb 7, 2014 6:32am Feb 7, 2014 6:32am
Signal is there, an hr in advance.
Management of drawdown is true skill to trading.
  • #10,670
  • Feb 7, 2014 6:35am Feb 7, 2014 6:35am
yeah, right now its broken through the channel and retracing a little bit . Although looks like theres a minor resistance at 167.00 the question is , could this be a fakey or a legit breakout . Ill wait till 7:45 candle close to determine direction
  • #10,671
  • Feb 7, 2014 6:35am Feb 7, 2014 6:35am
Quoting Affirmed
Signal is there, an hr in advance.
Sorry , what do you mean ?
  • #10,672
  • Feb 7, 2014 6:43am Feb 7, 2014 6:43am
SL 166.50

http://i57.tinypic.com/dxil3l.png
Attached Image (click to enlarge)
Click to Enlarge Name: 2-7-2014 6-38-15 AM.png Size: 23 KB
Management of drawdown is true skill to trading.
  • #10,673
  • Feb 7, 2014 6:49am Feb 7, 2014 6:49am
Quoting Affirmed
SL 166.50 http://i57.tinypic.com/dxil3l.png {image}
Ahh I see thanks, grat on your pips. You got in a while back
  • #10,674
  • Feb 7, 2014 6:55am Feb 7, 2014 6:55am
Quoting Affirmed
Signal is there, an hr in advance.
What signal is this you refer to? I see the arrow on the chart just wondering what you're using and looking at.
  • #10,675
  • Feb 7, 2014 7:03am Feb 7, 2014 7:03am
Quoting IveGotQuads
{quote} yeah If you look at USd/Jpy its not a good sign for shorts. Ill probably trade the breakout of this channel building here. But ill wait for the pull back continuation pattern before entry . ill post if I do
USDJPY can be flat today if USD get strong but yen also strong. or near sideways.

I'm seeing similar analysis on that pair anyway, looks like it should trade lower from 102.5 area
  • #10,676
  • Feb 7, 2014 7:03am Feb 7, 2014 7:03am
All depends on the close of this candle , but Im biased to the downside and will not be taking long entries based on my system. now we just have to contend with 2 news From US and CAD ...tough week
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 19 KB
  • #10,677
  • Feb 7, 2014 7:04am Feb 7, 2014 7:04am
Quoting edindzeko
{quote} What signal is this you refer to? I see the arrow on the chart just wondering what you're using and looking at.
SL moved up further. Answer to your question: Volume and Momentum of candles - good luck, I've got to run. Enjoy much for the day!
Management of drawdown is true skill to trading.
  • #10,678
  • Feb 7, 2014 7:05am Feb 7, 2014 7:05am
Quoting IveGotQuads
All depends on the close of this candle , but Im biased to the downside and will not be taking long entries based on my system. now we just have to contend with 2 news From US and CAD ...tough week {image}
The candles at this point can be misleading imho, its been no volume and sideways for a while...
  • #10,679
  • Feb 7, 2014 7:08am Feb 7, 2014 7:08am
OK, 38.2 was hit, 167 hit. Time to start rolling over.
  • #10,680
  • Feb 7, 2014 7:10am Feb 7, 2014 7:10am
Quoting Mpt
OK, 38.2 was hit, 167 hit. Time to start rolling over.
so confusing. why is it coming down now? what's going on?
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