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Geppy's Geppy Thread (GBP/JPY)

  • #11,481
  • Edited 6:08am Mar 5, 2014 5:51am | Edited 6:08am
Quoting Islander
{quote} Remember there is the ADP - NFP data and ISM Non Mfg PMI due later, so the market is in waiting mode....
IŽd like to see it around 172.00/71.80 then..Considering market sentiment and stops above, that news would be an awesome catalyst to trigger them.

Add: changed post here, I accidentally wrote 71.90 instead of 71.80
  • #11,482
  • Mar 5, 2014 5:53am Mar 5, 2014 5:53am
Quoting Islander
{quote} Remember there is the ADP - NFP data and ISM Non Mfg PMI due later, so the market is in waiting mode....
that never prevented me from taking a trade if the signal to do so is there, unless it's immediately prior to the news.
  • #11,483
  • Mar 5, 2014 5:57am Mar 5, 2014 5:57am
Quoting FX-Ray
{quote} Showtime
triggering..
  • #11,484
  • Mar 5, 2014 6:01am Mar 5, 2014 6:01am
Quoting cat
Interesting set up developing now, as it looks like we may well have a break out to the upside on the 5m chart, though the hourly chart is not somewhere you would want to buy right now. However, it'll be worth taking the long signal just in case it blows through the high.
Which it has done - TP 17,230 - though I'll be watching 17,134 very closely ( Daily 76.4% fib which pretty much held right through Feb )
  • #11,485
  • Mar 5, 2014 6:01am Mar 5, 2014 6:01am
Quoting FX-Ray
{quote} IŽd like to see it around 172.00/71.90 then..Considering market sentiment and stops above, that news would be an awesome catalyst to trigger them.
LOL - me too, I bought ~ FO and took partials on the push up into that area you've mentioned and then bought the pull back to today's 38% fib.

The 10 day ADR puts its high today at 171.80 - that's also a fib expansion off that 38% retrace, so positive out of line news could easily get it up there.....TWT
Trading Levels with WRBs
  • #11,486
  • Mar 5, 2014 6:03am Mar 5, 2014 6:03am
Quoting Islander
{quote} LOL - me too, I bought ~ FO and took partials on the push up into that area you've mentioned and then bought the pull back to today's 38% fib. The 10 day ADR puts its high today at 171.80 - that's also a fib expansion off that 38% retrace, so positive out of line news could easily get it up there.....TWT
Nice, no reason to give back profits, re-rentry chances will be given. Looks fine so far, ride it
  • #11,487
  • Mar 5, 2014 6:04am Mar 5, 2014 6:04am
Quoting cat
{quote} that never prevented me from taking a trade if the signal to do so is there, unless it's immediately prior to the news.
nor me
Trading Levels with WRBs
  • #11,488
  • Mar 5, 2014 6:08am Mar 5, 2014 6:08am
Quoting FX-Ray
{quote} Nice, no reason to give back profits, re-rentry chances will be given. Looks fine so far, ride it
this latest push up is driven by cable, with UJ in a 10 pip range for the past ~4 hours....now IF UJ breaks up too.......
Trading Levels with WRBs
  • #11,489
  • Mar 5, 2014 6:10am Mar 5, 2014 6:10am
Quoting Islander
{quote} this latest push up is driven by cable, with UJ in a 10 pip range for the past ~4 hours....now IF UJ breaks up too.......
True, am watching E/J and U/J frequently for confirmation. I just see no reason to go short now and I dont want to fight price tbh.

Add: I see so much shorting, even if it goes down its luck but this is purely emotional mass behaviour, its madness.
Add(2):
E/J Decision points this week:
142.60/40
141.40/20
140.80/60
140.40/20
139.80/60
138.40/20
137.60/40
  • #11,490
  • Mar 5, 2014 6:13am Mar 5, 2014 6:13am
Quoting FX-Ray
{quote} True, am watching E/J and U/J frequently for confirmation. I just see no reason to go short now and I dont want to fight price tbh.
Morning everyone. Nice to wake up to a bunch of pips for breakfast. Wondering if we will see 172 soon enough.
  • #11,491
  • Mar 5, 2014 6:17am Mar 5, 2014 6:17am
Quoting FX-Ray
{quote} True, am watching E/J and U/J frequently for confirmation. I just see no reason to go short now and I dont want to fight price tbh. Add: I see so much shorting, even if it goes down its luck but this is purely emotional mass behaviour, its madness,
all the more reason for the Big Dogs to do a nice stop-sweep and let us hit those targets....IMO best to wait out this afternoon's data, then BOE tomorrow and NFP on Friday......that will give plenty of info....and time to sell IF warrented....
Trading Levels with WRBs
  • #11,492
  • Mar 5, 2014 6:22am Mar 5, 2014 6:22am
Quoting Islander
{quote} all the more reason for the Big Dogs to do a nice stop-sweep and let us hit those targets....IMO best to wait out this afternoon's data, then BOE tomorrow and NFP on Friday......that will give plenty of info....and time to sell IF warrented....
No bad idea, pay attention to 170.80/60 while news release. The decision will be made fast if price drops there.
  • #11,493
  • Mar 5, 2014 6:26am Mar 5, 2014 6:26am
Quoting Kismet180
{quote} Morning everyone. Nice to wake up to a bunch of pips for breakfast. Wondering if we will see 172 soon enough.
Take risk but protect profits. Doesnt matter whats is going to happen next.
  • #11,494
  • Edited 6:59am Mar 5, 2014 6:34am | Edited 6:59am
They are still shorting..unbelievable
Add: Halfway of both major decision points @ 172.00/1.80, do not get greedy
Add(2): Minor decision point @ 171.25/20
Add(3): Minor decision point below @ 171.05/00
  • #11,495
  • Mar 5, 2014 6:44am Mar 5, 2014 6:44am
Quoting FX-Ray
They are still shorting..unbelievable Add: Halfway of both major decision points @ 172.00/1.80, do not get greedy Add(2): Minor Decision Point @ 171.25/20
LOL if this was in the past after the third push up I would have been looking for short opportunities, so I can understand why people are looking to short
  • #11,496
  • Mar 5, 2014 6:44am Mar 5, 2014 6:44am
Quoting FX-Ray
{quote} Take risk but protect profits. Doesnt matter whats is going to happen next.
Right. Thank you. I keep closing as it jumps and then entering long again as it drops back down.
Inhale/close -- Exhale/buy -- Repeat.

And thanks again for the decision points. Extremely useful.
  • #11,497
  • Mar 5, 2014 6:46am Mar 5, 2014 6:46am
Quoting IveGotQuads
{quote} LOL if this was in the past after the third push up I would have been looking for short opportunities, so I can understand why people are looking to short
You just made a very important observation here Quads, next time try to trade against your emotions. Whenever you feel you could miss a move to the downside, look for longs and vice versa.
  • #11,498
  • Mar 5, 2014 6:55am Mar 5, 2014 6:55am
Quoting FX-Ray
{quote} You just made a very important observation here Quads, next time try to trade against your emotions. Whenever you feel you could miss a move to the downside, look for longs and vice versa.
I just need more confidence holding positions through the noise cuz I caught that move @ 170.20 but closed too early for just 50 + pip profit only to see it go 60+ pips more. Its like theres Fx trading and theres Gbp/Jpy trading ....regular currency pair attributes dont apply here
  • #11,499
  • Mar 5, 2014 6:56am Mar 5, 2014 6:56am
News: ADP Non-Farm Employment Change in t-12minutes. Those who not planned news in their trading plan, get out of your position or at least protect profits, no reason to be a cowboy
  • #11,500
  • Mar 5, 2014 6:57am Mar 5, 2014 6:57am
Quoting IveGotQuads
{quote} I just need more confidence holding positions through the noise cuz I caught that move @ 170.20 but closed too early for just 50 + pip profit only to see it go 60+ pips more. Its like theres Fx trading and theres Gbp/Jpy trading ....regular currency pair attributes dont apply here
Knowledge produces confidence. Experience is knowledge.
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