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Geppy's Geppy Thread (GBP/JPY)

  • #11,661
  • Mar 7, 2014 7:35am Mar 7, 2014 7:35am
Quoting FX-Ray
Decision Points calendar week 10(EU)/09(US): Map: 177.20/00 175.60/40 174.80/60 173.20/00 (optimal TP this week(long)) 170.80/60 170.10/69.80 (Mid) 169.40/20 168.20/00 (short TP + buyback) 166.40/20 165.20/00 163.00/62.80 161.60/40 160.20/00 158.80/60 If you find yourself long/short in any Point above mentioned, conservative TP: halfway inbetween every decision point, dont give away profits. If you can get 50/60/70's, just take it. There gonna be chances for a re-entry. (Shorts be careful, the downmove might be already done if 170.10/69.90 holds...
optimal TP this week(long)) hit. Long positions liquidated.
  • #11,662
  • Mar 7, 2014 7:35am Mar 7, 2014 7:35am
interesting to see the cable going down and G/J going up
  • #11,663
  • Mar 7, 2014 7:36am Mar 7, 2014 7:36am
Gud news for USD market rockets ups and bad news for USD markets again rockets up....
wht the f**k happening in GPP JYP
  • #11,664
  • Mar 7, 2014 7:38am Mar 7, 2014 7:38am
173.30 target reached ...done for the week. Thanks to everyone who contributed !!! Much appreciated
  • #11,665
  • Mar 7, 2014 7:41am Mar 7, 2014 7:41am
time to short here ......tp 171
  • #11,666
  • Mar 7, 2014 7:43am Mar 7, 2014 7:43am
Quoting taran.forex
time to short here ......tp 171
unless JPY cool down and stop making new high, it would be like playing with fire.
  • #11,667
  • Mar 7, 2014 7:44am Mar 7, 2014 7:44am
can anyone explain that why G/J rises up when news for USD is good or bad...???
  • #11,668
  • Mar 7, 2014 7:49am Mar 7, 2014 7:49am
Quoting taran.forex
can anyone explain that why G/J rises up when news for USD is good or bad...???
NFP better than expected... USD positive
Unemployment Rate increase - negative for USD but reduce the chances of additional taper which push JPY high.

I am layman to comment but this are my observation... Fx Ray or someone else may correct it.
  • #11,669
  • Mar 7, 2014 8:02am Mar 7, 2014 8:02am
Can I ask a question?

When several bits of news come out and they're conflicting. Am I to believe that the majority of moneymakers across the globe make a decision as to the meaning and impact of that combination of news and manage to place trades within a split second of release to cause a spike?

Or can I ask another question?

Alternatively, have money makers decided already how they will trade the news, regardless of what it is, because they know before, during and afterwards there is the one thing they need - increased liquidity?

Or even a third?

If we believe what we are told, that retail traders are a tiny percentage of the forex market and our collective trades cannot move it, then why are we all paranoid that MMs are out to hunt our stops - surely we have little impact on their trades, for or against... except when news is released, then a large number of traders place over-leveraged and oversized risky 'bets' (and I use that word intentionally), which adds just enough liquidity to help the market makers.

Ok, not sure if the last point is a question really... just musing... any thoughts?
  • #11,670
  • Mar 7, 2014 8:09am Mar 7, 2014 8:09am
Yes Big players already have their position in place... news hour spike up or down is to trap retailers only. But we are not big players and not have source to find the big players position. We still retailers and have to swim in that way only.
  • #11,671
  • Mar 7, 2014 8:10am Mar 7, 2014 8:10am
Short added 173.40... lets see
  • #11,672
  • Mar 7, 2014 8:25am Mar 7, 2014 8:25am
Quoting Noob Trader
Yes Big players already have their position in place... news hour spike up or down is to trap retailers only. But we are not big players and not have source to find the big players position. We still retailers and have to swim in that way only.
Indeed - hence my facetious questions and my earlier comments regarding the pointlessness of preempting news impact.

I'm of the view that 'the market' 'subconsciously' knows where it wants to go and will get there regardless.
  • #11,673
  • Mar 7, 2014 8:30am Mar 7, 2014 8:30am
Quoting hollowhead
{quote} Indeed - hence my facetious questions and my earlier comments regarding the pointlessness of preempting news impact. I'm of the view that 'the market' 'subconsciously' knows where it wants to go and will get there regardless.
past experience enhance the decision making skills... I have not reached to the stage where I can discount news & emotions.
  • #11,674
  • Mar 7, 2014 8:49am Mar 7, 2014 8:49am
Quoting Noob Trader
Short added 173.40... lets see
Sold GBP/JPY and AUD/JPY too.

I don't intend to play it longer than today.
  • #11,675
  • Mar 7, 2014 8:52am Mar 7, 2014 8:52am
Saw a nice chance here.
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  • #11,676
  • Mar 7, 2014 8:57am Mar 7, 2014 8:57am
Quoting pabloski
{quote} Sold GBP/JPY and AUD/JPY too. I don't intend to play it longer than today.
Don't know much about AUDJPY since not tracking AUD. But GBPJPY should fall the suit and could retrace to some where 171...
  • #11,677
  • Edited 9:31am Mar 7, 2014 9:07am | Edited 9:31am
For those who took long, congrats. Pair reached 173.5xx.

To look forward to next week, next support would be 171.95 should pair fall, followed by 170.8. [For shorts] - I took short from 173.3.

On the opposite side, if 4 hour closes above 173.7, next would be 174.85, being swing high. [For longs]

Hope these helps.

Have a good weekend all.

edit: short from 173.3, not 170.3.
edit2: looking to close at 172 region.
  • #11,678
  • Mar 7, 2014 9:42am Mar 7, 2014 9:42am
Quoting eNjoyPips
For those who took long, congrats. Pair reached 173.5xx. To look forward to next week, next support would be 171.95 should pair fall, followed by 170.8. [For shorts] - I took short from 170.3. On the opposite side, if 4 hour closes above 173.7, next would be 174.85, being swing high. [For longs] Hope these helps. Have a good weekend all.
for the blind colours: shorts are a no-no now. Trend is super bullish. Good chances are only for those who wait for the dips to add longs
  • #11,679
  • Mar 7, 2014 9:49am Mar 7, 2014 9:49am
Quoting Greener
{quote} for the blind colours: shorts are a no-no now. Trend is super bullish. Good chances are only for those who wait for the dips to add longs
Intraday trades can be very profitable still.
  • #11,680
  • Mar 7, 2014 9:50am Mar 7, 2014 9:50am
Will watch PA @ .60 to see how long to ride it.
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