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Geppy's Geppy Thread (GBP/JPY)

  • #11,541
  • Mar 5, 2014 10:38am Mar 5, 2014 10:38am
Quoting FX-Ray
{quote} Yap, those levels are also used in context to the actual market sentiment, the levels alone without use of context are worthless. Add: Like any other system/methodology etc etc
http://assets.forexfactory.net/nfs/c...c154078_36.gif
(Thanks to chazzle )
  • #11,542
  • Mar 5, 2014 10:49am Mar 5, 2014 10:49am
1st and 2nd push for the day ...looks like the sweet spot there for the 3rd one
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  • #11,543
  • Mar 5, 2014 11:43am Mar 5, 2014 11:43am
4 spinning tops on H1 = wait and be ready
  • #11,544
  • Mar 5, 2014 11:51am Mar 5, 2014 11:51am
price holds above 171.00/20 level, so I'm holding my longs
  • #11,545
  • Mar 5, 2014 2:09pm Mar 5, 2014 2:09pm
Quoting FX-Ray
{quote} Didnt get triggered today, what doesnt mean they disappeared, 2morrow another day. WeŽll see then.
agreed - I logged off flat after the UK fix - catch you in the morning....
Trading Levels with WRBs
  • #11,546
  • Mar 5, 2014 3:17pm Mar 5, 2014 3:17pm
Hi FX,

Today's price fixing probe reminded me of old trading strategy to focus on the 8am/4PM daily price fix. Its an old story of course and in the US Reuters/Bloomberg buy early access to info. Judging from the Bloom Terminal... that 1minute prior moves in spades. Have you ever looked into this? Possibly just for algo bots as 1minute entry/exits requires better performance than MT4 can provide. Ta

Figgsey
  • #11,547
  • Mar 5, 2014 8:01pm Mar 5, 2014 8:01pm
If EJ is set to break through 141 in the next little while, where does everyone think that would put GJ?
  • #11,548
  • Edited 9:14pm Mar 5, 2014 8:44pm | Edited 9:14pm
Quoting Kismet180
If EJ is set to break through 141 in the next little while, where does everyone think that would put GJ?
No idea about EJ, but I'll answer in a different way.


On the upside, a break over the 171.5/6 resistance takes it to 171.8 and possibly 171.9 ish

Any sustained move over 172 would more than likely inject more upside momentum towards 173x.
  • #11,549
  • Mar 5, 2014 11:05pm Mar 5, 2014 11:05pm
I'm going to buy a little, don't feel like the gj is going down just yet.
  • #11,550
  • Mar 6, 2014 12:33am Mar 6, 2014 12:33am
Another 50 pips on USD/JPY makes it 240 pips From last Friday. Sentiment and fundamentals are with the bulls, not paying attention as much to the technicals. New sales tax in Japan will be 5% to 8% and to keep savers spending we will have to see some incentives from the BOJ. Will have to square it before the NFP though. Event risk is too high.
Be humble or be humbled.
  • #11,551
  • Mar 6, 2014 1:50am Mar 6, 2014 1:50am
closed trade for 46+ pips from 171.24 entry yesterday ....just couldnt bear the risk of giving it back the market. Still bullish and will look for long entries on the pull back or confirmed breakout
  • #11,552
  • Mar 6, 2014 2:47am Mar 6, 2014 2:47am
Hey traders. Back to Geppy. Sold it @ 171,770 with SL @ 172,170. Will update.

Wish you all a successful day!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #11,553
  • Mar 6, 2014 3:00am Mar 6, 2014 3:00am
Hmm ya me too, opened few short positions between 170.50-171.50. Hope for the best else doomed. Now praying to God to help me on those short
  • #11,554
  • Mar 6, 2014 3:02am Mar 6, 2014 3:02am
Quoting Mr.C
Hey traders. Back to Geppy. Sold it @ 171,770 with SL @ 172,170. Will update. Wish you all a successful day!
Hi Mr.C on the contrary, i beleive its time to break 171.88 resistance for anew resistance around 173.. let's see how it goes

I am long @ 171.54 with SL@ 170.54 TP@ 172.85

N.B My entry was based on Piering Line on 4hr with MACD positive and price above 100 EMA... lets see how it moves befor NFP tomorrow
  • #11,555
  • Mar 6, 2014 3:12am Mar 6, 2014 3:12am
In spite of all this crap, UJ has still not yet confirmed bullish. It needs to break (or at least touch) 102.85
  • #11,556
  • Mar 6, 2014 3:28am Mar 6, 2014 3:28am
Quoting Mpt
In spite of all this crap, UJ has still not yet confirmed bullish. It needs to break (or at least touch) 102.85
That depends on what time frame you are looking at.....UJ is above its upward sloping 20 ema on the 60m TF and above....the 30m is flat and the lower TFs down....however, I do agree that a break above the 102.80 area is important longer term and given the size of the lower PVP peak, the next move should be big...
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Trading Levels with WRBs
  • #11,557
  • Mar 6, 2014 3:36am Mar 6, 2014 3:36am
Quoting Islander
{quote} That depends on what time frame you are looking at.....UJ is above its upward sloping 20 ema on the 60m TF and above....the 30m is flat and the lower TFs down....however, I do agree that a break above the 102.80 area is important longer term and given the lower PVP peak, the next move should be big... {image}
Monthly, weekly. daily, or anything. It matters not. It must at least touch the earlier low of 102.84/85. Otherwise it remains in a bearish consolidation. Should it at least touch it, it confirms its intent - and may well fall back - but at least its bullish intent is clear.
  • #11,558
  • Mar 6, 2014 3:39am Mar 6, 2014 3:39am
Quoting alukojoshfx
{quote} Hi Mr.C on the contrary, i beleive its time to break 171.88 resistance for anew resistance around 173.. let's see how it goes I am long @ 171.54 with SL@ 170.54 ("SL@ 170.54") TP@ 172.85 N.B My entry was based on Piering Line on 4hr with MACD positive and price above 100 EMA... lets see how it moves befor NFP tomorrow
Not expecting much of a down move at the moment. TP1 for my short is @ ~ 171,370. Then and if it would be reached I think that a vise thing would be to secure the position. Don't want to predict more now.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #11,559
  • Mar 6, 2014 3:40am Mar 6, 2014 3:40am
Quoting Mpt
{quote} Monthly, weekly. daily, or anything. It matters not. It must at least touch the earlier low of 102.84/85. Otherwise it remains in a bearish consolidation. Should it at least touch it, it confirms its intent - and may well fall back - but at least its bullish intent is clear.
By the way, and even though i have ma's on my screen, they mean little in this equation - I'm coming at it purely from a level perspective.
  • #11,560
  • Mar 6, 2014 3:59am Mar 6, 2014 3:59am
Quoting Mpt
{quote} By the way, and even though i have ma's on my screen, they mean little in this equation - I'm coming at it purely from a level perspective.
I agree and for me, I would like to see a daily close with increased volume above this area to confirm the continuation after that higher low on Monday.....otherwise, UJ is confined in this rising wedge / triangle....
Trading Levels with WRBs
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