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Geppy's Geppy Thread (GBP/JPY)

  • #11,041
  • Feb 20, 2014 5:36pm Feb 20, 2014 5:36pm
Over 170.7 the uptrend returns, probably back to171 then at or near the top
  • #11,042
  • Feb 20, 2014 6:31pm Feb 20, 2014 6:31pm
Quoting Mpt
Over 170.7 the uptrend returns, probably back to171 then at or near the top
Yep, and I'm so tired of the 160's.... but the trend really switched on that W. D. Gann date of fame.....feb 4
  • #11,043
  • Edited 11:01pm Feb 20, 2014 6:43pm | Edited 11:01pm
Quoting Gbp/jpy
{quote} Yep, and I'm so tired of the 160's.... but the trend really switched on that W. D. Gann date of fame.....feb 4
This is probably just the completion of the move up from 164 (wave 1) before it corrects down further (wave 2) .... then up.

Assuming it gets to 171 x, it probably falls back to 170.5 ish support before the final climb. That's the plan anyway.

170.8 or so is today the very top of the daily cloud, so anything's possible.
  • #11,044
  • Feb 20, 2014 8:29pm Feb 20, 2014 8:29pm
Quoting monkey@forex
WTF is going on with this pair? I'm totally lost...180 or 160, it's chopping up my account and my mental space
becareful with this pair...you can easily blow your account very volatile if you ask me
  • #11,045
  • Feb 20, 2014 9:40pm Feb 20, 2014 9:40pm
Lower?
Be humble or be humbled.
  • #11,046
  • Feb 20, 2014 10:12pm Feb 20, 2014 10:12pm
Quoting smash1820
{quote} Oooh okay. I see that now. I just checked FF and I see that it was a high impact event. I've noticed that FF labels it like that which I think is cool, but I've never paid any attention to it and I guess I need to... at least to the high impact events. {image} Thanks. That actually answers a few of the questions I've had. I guess that spike down was triggered by Chinese Trade Balance, which came in 0.7B less than expected, so that makes sense. But I went back in time to the top of the hour and it seems like the down move started a little...
#1 and/or #3 are the most probable answers.
  • #11,047
  • Feb 21, 2014 12:33am Feb 21, 2014 12:33am
It;s in a really tight range squeeze, even narrower than yesterday, with the Bollingers on my H1 chart contracting. I've got a limit on the upside of 171,24, and about 169,85 on the down, and beyond that it's anybody's game. None of the other pairs I trade look any cleaner, so I'll be trying to pick off small trades at best for now.
  • #11,048
  • Feb 21, 2014 12:59am Feb 21, 2014 12:59am
Quoting IveGotQuads
{quote} Its meandering in a very small range so far, decided to close the short trade for 20+ pips. No sense in leaving an open trade with not enough momentum. There is also the possibility of price moving up to 171.00 before falling back down. Just have to wait till frankfurt to see, Cheers.
Although we have had some buying pressure I still think this might get down to the 169.30 Zone after touching the 171.00 zone or thereabout....on the 4hrly charts it does look like the bulls are about to take control. If this is to happen it might be next week rather than today. Short term bearish , midterm bullish and long term bullish... cheers
  • #11,049
  • Feb 21, 2014 2:13am Feb 21, 2014 2:13am
sell order 170.88, SL 171.08 TP = open
  • #11,050
  • Feb 21, 2014 2:39am Feb 21, 2014 2:39am
Rumors of gbp buy orders for the vodafone deal. Not sure if this will be done with the news coming out in an hr or so but closed the trade prematurely @ 170.68 for 18+ pips as the risk has been increased. PA is very unusual right now, not trying to give back some weekly gains.
  • #11,051
  • Feb 21, 2014 3:38am Feb 21, 2014 3:38am
Even with bad news this is rising...If I were a banker with huge buy orders what better time is there to buy if not when theres bad news and theres tons of sellers. I can just sit back and scoop all the sell orders till im satisfied. Doubt there will be waiting till next week as no one knows what may happen then.
  • #11,052
  • Feb 21, 2014 7:25am Feb 21, 2014 7:25am
What a beast this pair really is... LOL

Still holding on to my long entry from 169.90, SL at 170.45, TP 172.00 (first target).....

This is now the 2nd attempt (4hr chart) at 171.00, more news about to be released.... so far chart looks bullish we have had almost a week of ranging 169.00 - 171.00 break should be soon!
Cheers!!
  • #11,053
  • Feb 21, 2014 7:33am Feb 21, 2014 7:33am
Baby, I blew our savings trading GBPJPY..
  • #11,054
  • Feb 21, 2014 7:58am Feb 21, 2014 7:58am
Filled our socks again........Did you guys know they're giving away free pips at the London Open!!
I'll start posting these trades, 7 pm New York time and the Lovely London Open......I'm building a 50 x 100 foot barn...on that new 10 acres....it takes alot of time. But I'll start posting for the bunch.
Now the 7 pm trade only gets 11 pips in it's first layer.......and really waits till almost 8 pm....and then gets quite interesting. The London Open is real strait forward and confirms itself in 22 minutes....cool huh!!
  • #11,055
  • Feb 21, 2014 8:02am Feb 21, 2014 8:02am
Hello all,

New to this thread, but not new to GBPJPY. Traded for past few years, lost a lot for the first 4 years before making all of them back thereafter.

A friendly advice to trade this pair: Do not hold your pips when you are winning. Have a decent target strategy. 30-50 pips is good enough, considering the volatility of this pair.

Have been visiting this site recently, and noticed there are some novice and pro traders..a good mix.

Hope I can contribute my experience in trading this pair. So far haven't lost any trades yet in GBPJPY for the past 5years, why, because I target short pips, and don't trade everyday. Plus, I don't use stop losses, cuz based on personal experience, it was the SL which killed me in my early trading years.

Anyways, if there's a trade I made, I will post it here. Most recent trade was long GBPJPY from 170.65 to 171.15 this morning (Japan time).

For those who have lost their account, don't give up. I was there too a while ago. Lets hope we can contribute to learning.
  • #11,056
  • Feb 21, 2014 8:27am Feb 21, 2014 8:27am
Quoting eNjoyPips
Hello all, New to this thread, but not new to GBPJPY. Traded for past few years, lost a lot for the first 4 years before making all of them back thereafter. A friendly advice to trade this pair: Do not hold your pips when you are winning. Have a decent target strategy. 30-50 pips is good enough, considering the volatility of this pair. Have been visiting this site recently, and noticed there are some novice and pro traders..a good mix. Hope I can contribute my experience in trading this pair. So far haven't lost any trades yet in GBPJPY for the...
Well said!!!

SL moved to 170.75
Cheers!!
  • #11,057
  • Feb 21, 2014 8:49am Feb 21, 2014 8:49am
Quoting eNjoyPips
Hello all, New to this thread, but not new to GBPJPY. Traded for past few years, lost a lot for the first 4 years before making all of them back thereafter. A friendly advice to trade this pair: Do not hold your pips when you are winning. Have a decent target strategy. 30-50 pips is good enough, considering the volatility of this pair. Have been visiting this site recently, and noticed there are some novice and pro traders..a good mix. Hope I can contribute my experience in trading this pair. So far haven't lost any trades yet in GBPJPY for the...
Welcome, it's very nice to have you! This is a serious thread frequented by those who are bold enough to trade the best, some would say most dangerous pair there is, and those who take their trading seriously, unlike many of the other threads.
  • #11,058
  • Feb 21, 2014 8:55am Feb 21, 2014 8:55am
Quoting eNjoyPips
Hello all, New to this thread, but not new to GBPJPY. Traded for past few years, lost a lot for the first 4 years before making all of them back thereafter. A friendly advice to trade this pair: Do not hold your pips when you are winning. Have a decent target strategy. 30-50 pips is good enough, considering the volatility of this pair. Have been visiting this site recently, and noticed there are some novice and pro traders..a good mix. Hope I can contribute my experience in trading this pair. So far haven't lost any trades yet in GBPJPY for the...
WELCOME, buddy....
Good info in your post.....we see 39 pips form a barrier all the time......and the stop loss, What if you can find a method that has a small stop.....like 8 pips. That's close....huh!
  • #11,059
  • Feb 21, 2014 9:17am Feb 21, 2014 9:17am
Quoting eNjoyPips
Hello all, New to this thread, but not new to GBPJPY. Traded for past few years, lost a lot for the first 4 years before making all of them back thereafter. A friendly advice to trade this pair: Do not hold your pips when you are winning. Have a decent target strategy. 30-50 pips is good enough, considering the volatility of this pair. .
Welcome to the party !!! But in all seriousness thanks, its been a while since this thread got very active compared to others. Appreciate all the diverse inputs we can get.
  • #11,060
  • Feb 21, 2014 9:37am Feb 21, 2014 9:37am
on daily time frame, its coming to resistance lvl and smells like final spike before next leg down starts which could extend to 160 but looking at bullishness in GBP and sideways to positive in JPY, sounds bit crazy as of now.
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