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Geppy's Geppy Thread (GBP/JPY)

  • #10,881
  • Feb 14, 2014 5:44pm Feb 14, 2014 5:44pm
Heya! I have a 71 pip draw now, lol.
Be humble or be humbled.
  • #10,882
  • Feb 14, 2014 6:00pm Feb 14, 2014 6:00pm
slap this mofo
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  • #10,883
  • Feb 14, 2014 9:03pm Feb 14, 2014 9:03pm
It is a strange and frustrating situation.

Most paid commentators argue that there will be a new high next week of somewhere between 170.9/171.35/171.6 and maybe 172, indicating that this is the first move up back towards 175 and a little higher (depending on who's doing the predicting and what model they're assuming). Yet even with new highs, momentum keeps dropping - which kind of suggests that this could be a corrective move only - or a move that's ending.

However, we closed at the double top and on Monday/Sunday open next weeks resistance will be at the same level. So, unless there's a gap up on opening of about 10 pips, it could stay locked in.


If it means anything, where we sit at 170.6 is the 61.8 retracement of 174.8 ~ 163.8. For those au fait with Elliot waves, it could still be a 61.8 D wave correction (negated if it makes a new high).



ps I sent Carney a text to tell him to pull his head in.
  • #10,884
  • Feb 14, 2014 11:09pm Feb 14, 2014 11:09pm
Hi guys,

I opened a small short position at the friday close.

I was considering tha PA as a double top and now I'm aiming for a retracement at the sunday open.

What do you think about it?

Thank you very much and have a nice we.

J
  • #10,885
  • Feb 14, 2014 11:28pm Feb 14, 2014 11:28pm
Quoting ozboy
slap this mofo {image}

Do you have any idea how this speech could affect the geppy?

Thx

J
  • #10,886
  • Feb 14, 2014 11:32pm Feb 14, 2014 11:32pm
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  • #10,887
  • Feb 14, 2014 11:43pm Feb 14, 2014 11:43pm
Quoting PatienceFx
{image}
Hi Patience,

please do you mind explain your chart?

What's your vision immediatly after sunday re-open?

Up or down?

Thx

J
  • #10,888
  • Feb 15, 2014 12:39am Feb 15, 2014 12:39am
Quoting jimi
{quote} Do you have any idea how this speech could affect the geppy? Thx J
i have no idea bro. otherwise I was a multi billionaire at this moment though
  • #10,889
  • Feb 15, 2014 12:02pm Feb 15, 2014 12:02pm
ozboy, there appears to be the development of an apex curvature on your volume indicator. Perhaps we don't have far to go. I see a strong 171.00 weekly resistance level coming up. We'll see what Carney says.
Be humble or be humbled.
  • #10,890
  • Edited 1:02pm Feb 15, 2014 12:31pm | Edited 1:02pm
172-172.50...much more room left - anything GBP - this is its signature - flush out. Nothing is oversold unless MM says it is.
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Management of drawdown is true skill to trading.
  • #10,891
  • Feb 15, 2014 1:44pm Feb 15, 2014 1:44pm
Quoting jimi
Hi guys, I opened a small short position at the friday close. I was considering tha PA as a double top and now I'm aiming for a retracement at the sunday open. What do you think about it? Thank you very much and have a nice we. J
you cannot be shorting this ...rising after every slight dip better to buy each dip
  • #10,892
  • Feb 15, 2014 1:57pm Feb 15, 2014 1:57pm
Quoting SnaveForex
{quote} you cannot be shorting this ...rising after every slight dip better to buy each dip
I thought about a retracement in 170 area before a new run

Isn't it possible?
  • #10,893
  • Feb 15, 2014 2:39pm Feb 15, 2014 2:39pm
Quoting jimi
{quote} I thought about a retracement in 170 area before a new run Isn't it possible?
170.31 is support but the pair is hitting resistances..better to confirm with price action around these areas we should be hitting 171.87 175 soon
  • #10,894
  • Feb 16, 2014 6:06am Feb 16, 2014 6:06am
What about the Geppy at the open?
  • #10,895
  • Feb 16, 2014 9:51am Feb 16, 2014 9:51am
Quoting jimi
What about the Geppy at the open?

I am looking to buy the deep... will sell if there is any sign of reversalon 4H candle.

Happy pipping peeps
  • #10,896
  • Feb 16, 2014 9:52am Feb 16, 2014 9:52am
Quoting alukojoshfx
{quote} I am looking to buy the deep... will sell if there is any sign of reversalon 4H candle. Happy pipping peeps
I think this is the wiser move, instead of acting against the trend.
contact me for a managed account
  • #10,897
  • Feb 16, 2014 2:29pm Feb 16, 2014 2:29pm
seems they wanna buy again...............
  • #10,898
  • Feb 16, 2014 2:40pm Feb 16, 2014 2:40pm
Japanese GDP in an hour. If we see some better growth than expected perhaps exchange rates won't be so high anymore as the yen gets stronger.
Be humble or be humbled.
  • #10,899
  • Feb 16, 2014 2:54pm Feb 16, 2014 2:54pm
Quoting Temujin
Japanese GDP in an hour. If we see some better growth than expected perhaps exchange rates won't be so high anymore as the yen gets stronger.

this crappy does not want fall anymore even for a small retracement!!!!
  • #10,900
  • Edited 4:26pm Feb 16, 2014 4:02pm | Edited 4:26pm
The data was bad. 0.3%, they expected 0.7%. The strange thing is that the yen is getting stronger on this data, LOL! It should be the opposite.

So what this could mean is: China growth has contracted. There was an emerging market scare 2 weeks ago. The Argentine Peso is still 40% off it's previous value. U.S. data has not come in spectacular. Except for the UK data around the globe is not good.

So I think any day now the banks can pull the plug and we could could see equity valuations in a new light. Given the data we could see stocks as grossly over valued. The effect on FX markets? An unwind of the carry trade. GBP/USD to 1.71. A general risk off sentiment. Who knows.

I was 71 pips in the red on my sell at 169.75. Now only 25.
Be humble or be humbled.
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