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Geppy's Geppy Thread (GBP/JPY)

  • #11,061
  • Feb 21, 2014 9:47am Feb 21, 2014 9:47am
Quoting Noob Trader
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. {image}
I wish to believe that short is coming.. but looks like hasnt
  • #11,062
  • Feb 21, 2014 9:50am Feb 21, 2014 9:50am
Quoting Jrshin
{quote} I wish to believe that short is coming.. but looks like hasnt
last few hour spike gives me feel of false spike... I would be waiting to see how it opens and trade on monday opening
  • #11,063
  • Feb 21, 2014 9:54am Feb 21, 2014 9:54am
Quoting Noob Trader
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. {image}
i call it the spiky.....agressive pair indeed
  • #11,064
  • Feb 21, 2014 10:00am Feb 21, 2014 10:00am
Quoting SnaveForex
{quote} i call it the spiky.....agressive pair indeed
This pair has capacity to change your fortune forever. daily movement of 100-200 pips is not task of weak heart
  • #11,065
  • Feb 21, 2014 10:01am Feb 21, 2014 10:01am
George Soros triggered his bet against the GBP again
  • #11,066
  • Feb 21, 2014 10:02am Feb 21, 2014 10:02am
Quoting Noob Trader
{quote} This pair has capacity to change your fortune forever. daily movement of 100-200 pips is not task of weak heart
it involves playing tactically...sometimes 300 easily
  • #11,067
  • Feb 21, 2014 10:04am Feb 21, 2014 10:04am
already added some shorts... will add more on monday... just wish it didn't end up screwing my efforts of this month.
  • #11,068
  • Feb 21, 2014 10:06am Feb 21, 2014 10:06am
Quoting SnaveForex
George Soros triggered his bet against the GBP again
When big guns leak some info, its warning sign if you are on line with announcements. Big guns falsely announced with pure intention to trap retailers
  • #11,069
  • Feb 21, 2014 10:10am Feb 21, 2014 10:10am
Quoting Noob Trader
{quote} When big guns leak some info, its warning sign if you are on line with announcements. Big guns falsely announced with pure intention to trap retailers
this is no big guns....its a gut feeling....just look at this sell off now.....all stops were cleared 100 pips away since 170.53
  • #11,070
  • Feb 21, 2014 10:20am Feb 21, 2014 10:20am
Quoting SnaveForex
{quote} this is no big guns....its a gut feeling....just look at this sell off now.....all stops were cleared 100 pips away since 170.53
It's already Friday US session. Momentum looks to be upside now. No use gambling placing shorts. U might get burned. This pair has descending trendline, with top at around 172ish. We need to see if that breaks or not. If I were to gamble I would bet 30-50 pips upside right now.

Quoting Gbp/jpy
{quote} 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!
I don't use stop loss, but I leave a buffer of 200-300 points, as closest drawback this pair went before hitting my target was -190 pips, happens a few times in a year. Trade based on the daily P.A, instead of guessing the direction. Europe open is usually best, although I trade Japan open at times too, depending on breach of S&R.

Have a good weekend guys
  • #11,071
  • Feb 21, 2014 10:45am Feb 21, 2014 10:45am
with 200-300 pips buffer, we have very good chance to constantly making money out of this pair.
  • #11,072
  • Feb 21, 2014 10:53am Feb 21, 2014 10:53am
Quoting eNjoyPips
{quote} It's already Friday US session. Momentum looks to be upside now. No use gambling placing shorts. U might get burned. This pair has descending trendline, with top at around 172ish. We need to see if that breaks or not. If I were to gamble I would bet 30-50 pips upside right now. {quote} I don't use stop loss, but I leave a buffer of 200-300 points, as closest drawback this pair went before hitting my target was -190 pips, happens a few times in a year. Trade based on the daily P.A, instead of guessing the direction. Europe open is usually...
this should be a double top in my opinion at least for now on daily chart
  • #11,073
  • Feb 21, 2014 11:05am Feb 21, 2014 11:05am
its almost 100 pips down from top within 1 hour
  • #11,074
  • Feb 21, 2014 3:43pm Feb 21, 2014 3:43pm
Let's hope you didn't gamble. It went completely in the opposite direction.

What I don't understand is why people can't back up their ideas with some solid technical analysis instead of calling out trades and turning forex trading into a casino.

Quoting eNjoyPips
{quote} It's already Friday US session. Momentum looks to be upside now. No use gambling placing shorts. U might get burned. This pair has descending trendline, with top at around 172ish. We need to see if that breaks or not. If I were to gamble I would bet 30-50 pips upside right now. {quote} I don't use stop loss, but I leave a buffer of 200-300 points, as closest drawback this pair went before hitting my target was -190 pips, happens a few times in a year. Trade based on the daily P.A, instead of guessing the direction. Europe open is usually...
  • #11,075
  • Feb 21, 2014 4:25pm Feb 21, 2014 4:25pm
Quoting caldera
Let's hope you didn't gamble. It went completely in the opposite direction. What I don't understand is why people can't back up their ideas with some solid technical analysis instead of calling out trades and turning forex trading into a casino. {quote}
A view.
Attached Image (click to enlarge)
Click to Enlarge Name: 140221_GBPJPY_H1.gif Size: 28 KB
  • #11,076
  • Feb 22, 2014 4:17am Feb 22, 2014 4:17am
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. 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...
Yeah i wont give up... lost my account due to impatience and starting up again in march.. Love this forum because Geepy is my only currency!!! needs tomaster it
  • #11,077
  • Feb 23, 2014 8:00am Feb 23, 2014 8:00am
Quoting caldera
Let's hope you didn't gamble. It went completely in the opposite direction. What I don't understand is why people can't back up their ideas with some solid technical analysis instead of calling out trades and turning forex trading into a casino. {quote}
Of course I didn't take the trade, it was hazy in terms of direction.

Actually you don't need fancy indicators and lines to trade this pair. Just know where are support and resistance. It's enough to make you 100-200 pips a month, and that is a lot. Plus don't trade everyday.
  • #11,078
  • Feb 23, 2014 8:03am Feb 23, 2014 8:03am
Quoting alukojoshfx
{quote} Yeah i wont give up... lost my account due to impatience and starting up again in march.. Love this forum because Geepy is my only currency!!! needs tomaster it
you can make up those lost pips and account...play tactically and pick your support and resistances and not forgetting room for stop loss....very volatile pair indeed
  • #11,079
  • Feb 23, 2014 8:20am Feb 23, 2014 8:20am
Getting ready for another week, the general consensus is for down, so I believe it will go up to new high, problem is where to enter...
  • #11,080
  • Feb 23, 2014 11:16am Feb 23, 2014 11:16am
Quoting monkey@forex
Getting ready for another week, the general consensus is for down, so I believe it will go up to new high, problem is where to enter...
General consensus is down, so you think it'll go up, no reason why, no levels, nothing - what help is that post to anyone. This is a quality thread, so let's keep it that way!!
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