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Geppy's Geppy Thread (GBP/JPY)

  • #12,001
  • Mar 13, 2014 1:56pm Mar 13, 2014 1:56pm
With a large 4 HR candle and momentum like that, I would not be going long right now.
Management of drawdown is true skill to trading.
  • #12,002
  • Mar 13, 2014 2:33pm Mar 13, 2014 2:33pm
Quoting aviz12
{quote} Hey Wuza, What is the name of this service provider.. I forgot the name. I was using them last year.. Thanks
That one is talking-forex.com
  • #12,003
  • Edited 3:15pm Mar 13, 2014 2:58pm | Edited 3:15pm
So where are all the GBP/JPY bulls now? Where are all the doubters on the Crimea referendum risk event? Oh Break even btw on GBP/CHF, it sucks.
Be humble or be humbled.
  • #12,004
  • Mar 13, 2014 3:43pm Mar 13, 2014 3:43pm
Sterling Pounder against the Yen :


It is more than likey that we will see a daily closing and final settlement below former critical zone 170.00 ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,005
  • Mar 13, 2014 3:49pm Mar 13, 2014 3:49pm
Quoting aviz12
{quote} What are those green and red lines on your chart.. Some EA automatic indication lines ?

Yes ... somewhat like this ... sell levels and buy levels ... various types of ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,006
  • Mar 13, 2014 3:59pm Mar 13, 2014 3:59pm
Warum..........ah nunja. Seems to be a buy now and maybe even into Tokyo? I don't know anymore. All I know is that I'm buying USD/CHF and holding over the weekend. The Euro is done. Vladimir say bring munee beck to motherlend, just in case der is trable wid da west.
Be humble or be humbled.
  • #12,007
  • Mar 13, 2014 4:04pm Mar 13, 2014 4:04pm
I was wrong about the pound, it was the U.S. dollar that was bid. Risk off it's good old USD.
Be humble or be humbled.
  • #12,008
  • Mar 13, 2014 4:06pm Mar 13, 2014 4:06pm
I can't understand why you even thought about GBPCHF let alone trade it... EURGBP short would've been a better pair to trade.

You mentioned something about GBP strength because of risk aversion.

I think risk aversion is usually USD & JPY +ve and EUR & GBP & NZD & AUD -ve

I think CHF was considered a safe haven currency until the Swiss Central Bank decided to peg it to the EUR and keep the EURCHF rate at around 1.2

On that note the best trades were short JPY pairs especially GBPJPY & EURJPY.

NZD and AUD were already strong because of the interest rate hike and the decrease in unemployment respectively.

USD is a little strong on risk aversion but it's nowhere as near as strong as JPY atm.

As with alot of trading I think alot of these observations make more sense in hindsight.

Quoting Temujin
So where are all the GBP/JPY bulls now? Where are all the doubters on the Crimea referendum risk event? Oh Break even btw on GBP/CHF, it sucks.
  • #12,009
  • Mar 13, 2014 4:17pm Mar 13, 2014 4:17pm
Quoting mercy seat
Play it smooth ... play it eaysy ... Play the trumpet just like Chet Baker ... Send in the Clowns ... without much stress ... but just right in time ... ### It's great art to play a trumpet like Chet ... without having any teeth anymore ... Our old beloved junkie hero ... ;-|


GBP/JPY :


Zack! Bingo ... and now we are long with avg BE @ 168.8119 ...

Lowest ENTRY buy position you can see here ... Attachment ...

It has been taken at 20h56 CET ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,010
  • Mar 13, 2014 4:28pm Mar 13, 2014 4:28pm
please help me !!!!!!!! how to process please !!!

http://upfree.ssc.vn/images/427Untitled.png
  • #12,011
  • Mar 13, 2014 5:29pm Mar 13, 2014 5:29pm
Ok. looks like you are 0.2 lots long and 0.2 lots short i.e. you have hedged which means your equity remains unchanged regardless of what the price does.

It's the same as not having any orders open.

For this reason my sincere advice to you is the following.

1. To take the loss and close all your orders. You will lose some money but at least you'll still have $362.

2. Your next step is to close your computer and forget about trading for the rest of the week and the weekend. Get some rest, relax with your family, watch some movies... do something else to take your mind of trading. Nobody really knows what's going to happen this weekend because of Ukraine anyway. JPY might continue to strengthen or it might retrace all the way back... nobody knows.

3. If you are new to trading you have to accept that you have a long, painful and difficult path ahead of you... on average it takes about 5 years to start becoming consistent at trading and that involves alot of hard work... reading, experience, watching the markets etc. and in the process you're going to lose money.

4. If you still want to continue. Learn about Money Management and how to use a Stop Loss/Take Profit with your order, open a micro account and transfer your balance to that account and trade only 0.01 lots until you can consistently make some profit.


Quoting giahung4ever
please help me !!!!!!!! how to process please !!! {image}
  • #12,012
  • Mar 13, 2014 5:39pm Mar 13, 2014 5:39pm
Last night @ about 8:30 pm the 15 minute doji down hit, which to me signaled an uptrend buy I was closely watching the 4 hour chart, which was eluded too by others
and the 20 day was ever so close to piercing the 50 day for the final thrust down...then all hell broke loose. I would generally ride it out but closed because I could not
believe this was happening, not an emotional close but it just did not make common sense with no earth shattering news and all.
I concluded it was to shake out, a hundred pips later all the shorts gone it then goes for the dagger plunge, which it did eventually do.
I took my coin and went to the Euro and made my 505 pips on a predictable pivot drop, after some momentum.
I, a humble armature, am in agreement with the establishment about the logic of it.
I will wait until "Crazy Ivan" settles down before attempting another dip up or down.
  • #12,013
  • Mar 13, 2014 5:40pm Mar 13, 2014 5:40pm
Quoting caldera
Ok. looks like you are 0.2 lots long and 0.2 lots short i.e. you have hedged which means your equity remains unchanged regardless of what the price does. It's the same as not having any orders open. For this reason my sincere advice to you is the following. 1. To take the loss and close all your orders. You will lose some money but at least you'll still have $362. 2. Your next step is to close your computer and forget about trading for the rest of the week and the weekend. Get some rest, relax with your family, watch some movies... do something...

That's a very nice and useful answer ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,014
  • Mar 13, 2014 5:42pm Mar 13, 2014 5:42pm
Quoting mercy seat
{quote} GBP/JPY : Only very small part is still active from below 168.81 zone ... long atm ... good night guys ... ;-|

GBP/JPY :


Anyway ... I'm a little bit tired atm ...

My long positions from 168.81 will remain active for now and maybe overnight ... objectives are for a move towards 170 figure or a tad above that ... that could be possible ...

Let's see ... good night!


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,015
  • Mar 13, 2014 7:49pm Mar 13, 2014 7:49pm
Quoting caldera
I can't understand why you even thought about GBPCHF let alone trade it... EURGBP short would've been a better pair to trade. You mentioned something about GBP strength because of risk aversion. I think risk aversion is usually USD & JPY +ve and EUR & GBP & NZD & AUD -ve I think CHF was considered a safe haven currency until the Swiss Central Bank decided to peg it to the EUR and keep the EURCHF rate at around 1.2 On that note the best trades were short JPY pairs especially GBPJPY & EURJPY. NZD and AUD were already strong because of the interest...

Agreed, had like 23 pips and suddenly under water with GBP/CHF. It's at a good level now though and it's holding but who knows when it will start to take off. USD/CHF is showing some reversal signs now because it's nearing the quarter end and Draghi's threatening of, how did he put it? Non standard measures? And that invasion too now. A nice good Russian invasion can do that to a market. He can't send in troops and redraw lines like we're in a Conan The Barbarian comic book or something but da, yes he did.

I don't like what is going on with GBP/JPY now. It's getting to that point where it is too low too fast for my comfort level to keep shorting it and they keep looking for rally points but have not decided on it yet. It could just drop only by increments of 40 or 50 pips now but still.
Be humble or be humbled.
  • #12,016
  • Mar 13, 2014 11:01pm Mar 13, 2014 11:01pm
Friends and fellow traders you know I've been bearish on this pair for the last week at least. We are approaching the very significant level of 168.50 on the Daily chart. The reason for this is because it's the 90 period simple moving average.

What we are searching for now is an enormous relief rally. We need something in the news. Somehow there must be a way for Putin to reverse this mad course of action without losing face. We had the show of force and the willingness of the people in Crimea to have the country split in two. Clearly the EU and U.S. is not accepting a divided Ukraine and if he does not back down this situation can escalate into things better left unwritten.

We are nearing the end of Q1 14 and it seems like we are at the start of big reversals on a few pairs. USD is finally getting some bids vs. a few other currencies than just the yen. Those that missed the moves up on GJ are going get another chance to have fun and make a lot of pips and that's real cool.
Be humble or be humbled.
  • #12,017
  • Mar 13, 2014 11:03pm Mar 13, 2014 11:03pm
Something fun to while away the time...

Inserted Video
  • #12,018
  • Mar 14, 2014 12:13am Mar 14, 2014 12:13am
Saw him host SNL a few years ago, really funny. Long USD/CHF. The criteria I look for in a longer term reversal is being met so far. Price action has now turned bullish, long at 0.8745. I'll get back into GBP/JPY if and when things cool off. I trade swings on the H4 chart, no longer a session trader.
Be humble or be humbled.
  • #12,019
  • Mar 14, 2014 1:01am Mar 14, 2014 1:01am
Quoting IndigoPingvi
{quote} Interesting. I would only go long from 170.25, but even that i consider risky. Consider going BE soon, this looks bearish and could easily dive to 169.5
The only time I am right and I am not trading, hahaha...
  • #12,020
  • Edited 1:20am Mar 14, 2014 1:15am | Edited 1:20am
This can easily go as low as 167.5. I would not go long unless there is confirmation to go long.
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