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Geppy's Geppy Thread (GBP/JPY)

  • #11,121
  • Feb 25, 2014 7:53pm Feb 25, 2014 7:53pm
Range trades can be good
  • #11,122
  • Feb 25, 2014 8:26pm Feb 25, 2014 8:26pm
At these levels I wouldnt long nor short with very far targets, as 171.xx level as resistance and 170.xx as support. Lets see how it plays out during europe session.
  • #11,123
  • Feb 26, 2014 1:34am Feb 26, 2014 1:34am
Range Trading would have played beautifully last few days or so, a few hundred pips there... However, range breakout looks among us and price action at the moment looks to favor the bulls, imo.

Still anything can happen, for those in already, protect your positions with limits and stops, for those yet to enter, stand aside and wait for direction.

The News today should rock this boat one way or another!

Happy Trading!
Cheers!!
  • #11,124
  • Feb 26, 2014 2:24am Feb 26, 2014 2:24am
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  • #11,125
  • Feb 26, 2014 2:29am Feb 26, 2014 2:29am
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  • #11,126
  • Feb 26, 2014 4:41am Feb 26, 2014 4:41am
Quoting PatienceFx
{image}
Shorted?? Good luck
  • #11,127
  • Edited 8:20am Feb 26, 2014 4:54am | Edited 8:20am
Here's my take. I'll be looking for an entry shortly at around 17,069-61.......void - now looking at H1 200ema possible support.
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  • #11,128
  • Feb 26, 2014 8:29am Feb 26, 2014 8:29am
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}
Downside bias remains intact, a push below 169.80 could seal the faith. Don't know from where the fall will come but smells fall is coming...

your views pls
  • #11,129
  • Feb 26, 2014 8:33am Feb 26, 2014 8:33am
Updated Chart

http://charts.mql5.com/4/8/gbpjpy-d1...act-are-we.png
  • #11,130
  • Feb 26, 2014 8:34am Feb 26, 2014 8:34am
I'm in long @ 170,21 - bit earlier than I would normally have but gotta go get the nipper from school. Tight SL, R/R worth it. TP 171.90.
  • #11,131
  • Feb 26, 2014 8:47am Feb 26, 2014 8:47am
Quoting cat
I'm in long @ 170,21 - bit earlier than I would normally have but gotta go get the nipper from school. Tight SL, R/R worth it. TP 171.90.
whats stop for your trade ?
  • #11,132
  • Feb 26, 2014 9:29am Feb 26, 2014 9:29am
Triangle on Geppy's hourlies might be evolving. Some reaction to the lower TL. On the watch list.
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  • #11,133
  • Feb 26, 2014 9:39am Feb 26, 2014 9:39am
Hi there,

I got mails regarding my view of the YEN Pairs. Wanna make a quick summary because I dont have much time.

Major Decision Points of G/J:
@ 172.20/00
@ 170.80/60
-we are here-
@ 169.40/20
@ 168.40/20

Stop Cascades below 170.10/69.90, if they got triggered probably see 169.40/20 where IŽd like to buy back.

Major Decision Points of U/J:
Am watching 102.30/102.05 if support we might see new highs, if demand cant hold it we might see tests of the lows.

Major Decision Points of E/J:
Supply: 140.80/60
Demand: 140.20/39.70
In between is a battlezone, either buyers or seller get slaughtered. you got the prices.

Since U/J, E/J and U/J are highly correlated you want to see what happends to supply and demand of each of them. You know the direction then.

Im out. See you then.
  • #11,134
  • Feb 26, 2014 9:40am Feb 26, 2014 9:40am
Quoting Noob Trader
{quote} whats stop for your trade ?
12 pips - stopped out. Not worth risking more than that with that sort of trade. It's gone too far for me now, so I'll be looking for another long entry when/if it retraces a bit.
  • #11,135
  • Feb 26, 2014 9:44am Feb 26, 2014 9:44am
Quoting cat
{quote} 12 pips - stopped out. Not worth risking more than that with that sort of trade. It's gone too far for me now, so I'll be looking for another long entry when/if it retraces a bit.
12 pips SL would be deadly with beast which is tend to move 200 pips a day... anyway all have different style to trade and first priority is to protect capital rather than making money.
  • #11,136
  • Feb 26, 2014 9:56am Feb 26, 2014 9:56am
Quoting Noob Trader
{quote} 12 pips SL would be deadly with beast which is tend to move 200 pips a day... anyway all have different style to trade and first priority is to protect capital rather than making money.
I only took that trade because I had to go out and didn't want to miss what I though could be a decisive move. 12 pips is tight admittedly, but I enter my trades on a 15 second time frame and so a 15 pip maximum stop loss works well for me when the entry is right, especially with this pair which can move 50 pips when others have moved 15.
  • #11,137
  • Feb 26, 2014 9:59am Feb 26, 2014 9:59am
Yup, this pair can make or break the fortune.
  • #11,138
  • Feb 26, 2014 10:20am Feb 26, 2014 10:20am
Just to show that you can trade this pair with a 10-15 pip SL, if the entry is right. I'm long again from 170.14 and have moved to BE. SL 12 pips. TP - not sure right now.
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  • #11,139
  • Feb 26, 2014 11:32am Feb 26, 2014 11:32am
GBP/JPY: sold @ 170,670. SL @ 171,070.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #11,140
  • Feb 26, 2014 11:38am Feb 26, 2014 11:38am
Added short again @ 170.70, part was covered near 170... Testing the nerves of both side... Cable should be attacked for downside while keeping Yen in sideways mode.
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