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Geppy's Geppy Thread (GBP/JPY)

  • #11,221
  • Feb 27, 2014 6:37am Feb 27, 2014 6:37am
wonder where they are going with this...
  • #11,222
  • Feb 27, 2014 6:39am Feb 27, 2014 6:39am
Quoting SnaveForex
{quote} this baby can burn
yeah men I only trade 3 hrs a day...works for me. Had a short bias during my analysis as there was going to be a 3rd push down, but that initial push was so quick and hit the 15 min 200 EMA i switched up and got burnt for 20+ pips. Its all good, Im up for the week in general
Congrats to those who got in for the full short break down
  • #11,223
  • Feb 27, 2014 6:43am Feb 27, 2014 6:43am
Quoting FX-Ray
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.
Effing great call here !!! I should have paid more attention to that line LOL Dont know how you do it ...I dont see that far
  • #11,224
  • Feb 27, 2014 6:48am Feb 27, 2014 6:48am
Quoting IveGotQuads
{quote} Effing great call here !!! I should have paid more attention to that line LOL Dont know how you do it ...I dont see that far
Mate, dont worry, they will be plenty of opportunities in the future
  • #11,225
  • Feb 27, 2014 6:49am Feb 27, 2014 6:49am
Quoting FX-Ray
{quote} 1st TP @ 170.00/69.80 2nd TP @ 170.80/60 3rd TP @ 172.20/00 This is a squeeze play, if any of those TP gets hit the probability of printing the next one is very high. Traders holding onto their shorts but fundamentals are up since early 2013.
Excellent call my friend!!!

Credit where its due... Keep it up!
Cheers!!
  • #11,226
  • Feb 27, 2014 6:54am Feb 27, 2014 6:54am
Probable Support @ 170.17/12 ; Sitting shorts, will they cover?

Add: Its like Shorts Vs. Shorts; greedy short vs feared shorts
  • #11,227
  • Feb 27, 2014 7:01am Feb 27, 2014 7:01am
Quoting FX-Ray
Probable Support @ 170.17/12 ; Sitting shorts, will they cover? Add: Its like Shorts Vs. Shorts; greedy short vs feared shorts
Well they covered, remaining shorts are trapped at 170.17/12, probably gonna cover above 170.45 ; there is still some hope
  • #11,228
  • Feb 27, 2014 7:19am Feb 27, 2014 7:19am
Okay im done for today. If 170.10/69.90 holds as support, next decision Point @ 170.80/60; from there we will see. If not test of 169.40/20 again. Peace. Im out.
  • #11,229
  • Feb 27, 2014 7:43am Feb 27, 2014 7:43am
Quoting xingloon
Long @ 169.274 TP170 SL open
tp hit with 72 pips profit.
Listen to the market
  • #11,230
  • Feb 27, 2014 8:21am Feb 27, 2014 8:21am
Quoting FX-Ray
{quote} 1st TP @ 170.00/69.80 2nd TP @ 170.80/60 3rd TP @ 172.20/00 This is a squeeze play, if any of those TP gets hit the probability of printing the next one is very high. Traders holding onto their shorts but fundamentals are up since early 2013.
1st and 2nd TP filled.
Remaining targets: 172.20/00
Remaining stops: 170.75/70
  • #11,231
  • Feb 27, 2014 8:47am Feb 27, 2014 8:47am
I'm one of those that went short again. 170.47 after the 150 pip plus Yellen plunge. To me this really reveals an attitude the market has been hiding for the last week. That swoon brings to a light a weakness and a readiness to dump risk. It's unsettling how gold is rising, the VIX has been up for a while and the equity markets just buzz along like nothing is going on. I really sense something is wrong here.

I appreciate all the great technical analysis here and have seen some great charts. I'm just one of those who has to know the reason why and if I don't see the fundamentals anywhere I get wary of the price action.
Be humble or be humbled.
  • #11,232
  • Feb 27, 2014 8:51am Feb 27, 2014 8:51am
Quoting Temujin
I'm one of those that went short again. 170.47 after the 150 pip plus Yellen plunge. To me this really reveals an attitude the market has been hiding for the last week. That swoon brings to a light a weakness and a readiness to dump risk. It's unsettling how gold is rising, the VIX has been up for a while and the equity markets just buzz along like nothing is going on. I really sense something is wrong here.
http://www.forexfactory.com/showthre...67#post7305767
  • #11,233
  • Feb 27, 2014 9:34am Feb 27, 2014 9:34am
I read Bank of America had a sell recommendation on gold recently but it somewhat rebounded unlike past pops. The U.S. dollar has been performing quit poorly lately and hence the support.....maybe. Or is it the global turmoil also? Anyway if the dragon bites me well enough I'll switch sides and go long again. When the facts change I have to quickly change my mind also. The BOJ is expected to increase the bond buying by 10 million USD. A good sum but not as lofty as last April so we will see.
Banks are also incredibly devious. I would not be surprised if they somehow begin to use the mass financial media to suddenly recognize a risk averse environment to sell off yen crosses so they can get them on the cheap before the BOJ announcement. Yup, sounds like something they would do.
Be humble or be humbled.
  • #11,234
  • Feb 27, 2014 10:13am Feb 27, 2014 10:13am
charts not supporting upside (daily), but somehow it is manages to keep scaring shorts, would hold the shorts with scalping any intraday jumps.
  • #11,235
  • Feb 27, 2014 11:52am Feb 27, 2014 11:52am
Quoting Noob Trader
charts not supporting upside (daily), but somehow it is manages to keep scaring shorts, would hold the shorts with scalping any intraday jumps.
Zoom out and look at the daily chart from the beginning of 2014 - IMO it 100% supports upside. It's consolidating, but it has been all bull for 2 years.
  • #11,236
  • Feb 27, 2014 12:04pm Feb 27, 2014 12:04pm
Quoting hollowhead
{quote} Zoom out and look at the daily chart from the beginning of 2014 - IMO it 100% supports upside. It's consolidating, but it has been all bull for 2 years.
Frankly speaking I am also bit skeptical about downside move, but since last few days, it is not giving confidence to stay long or stay away. I am in short with my SL, chart posted on last friday remains intact. Big data coming from Japan, EU and US in next few hours. Lets see how it behaves.
  • #11,237
  • Feb 27, 2014 12:19pm Feb 27, 2014 12:19pm
Attached File(s)
File Type: pdf psycho.pdf   224 KB | 5,698 downloads
  • #11,238
  • Feb 27, 2014 12:23pm Feb 27, 2014 12:23pm
Quoting FX-Ray
{image}
Thanks, will be weekend breakfast
  • #11,239
  • Feb 27, 2014 12:24pm Feb 27, 2014 12:24pm
Quoting Noob Trader
{quote} Thanks, will be weekend breakfast
Highly recommended reading. I consider Georg as a friend and a market wizard. I got much respect for him.
  • #11,240
  • Feb 27, 2014 1:11pm Feb 27, 2014 1:11pm
I learnt a lesson ( not for the first time ) today that may help some of you. I was holding a long from last night, convinced that it would go higher. This bias blinded me to what I really should have seen this morning, and that was a perfectly good opportunity to short. The result was that I gave away most of my gains, and missed the move of the week. We tend to see what we want to see in life, but in the world of the financial markets, that usually leads us into a blind alley. Goodnight all, tomorrow's another day.
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