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Geppy's Geppy Thread (GBP/JPY)

  • #12,181
  • Mar 18, 2014 7:00pm Mar 18, 2014 7:00pm
GBP/JPY :


Sterling pairs suffered a tad more all over the board ... but I will not touch it atm ... and there is only a small part active from above 168.45 zone ...

In case of corrective upside swings we would prefer to sell it again ... especially while it remains curtailed below 168.90 - 95 zone ...

There is still some gravitation ... and further attempts to cut lower cannot be ruled out from here ... critical keys to keep in mind are 167.82 and 167.55 ...

Neutralized in near-term perspective as long as above 168.00 - 167.90 zone ... but sustained cross of below that zone would re-open the downside with ease ...

Only a breakout and move towards above 169.40 - 169.70 can dampen the downside risk ...



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,182
  • Mar 18, 2014 7:52pm Mar 18, 2014 7:52pm
Do you use investing.com? They included Bitcoin among their Forex majors, LOL!! Look on the right menu where you can click on Indices, Commodities, Forex and Bonds. It's under FOREX, LOL!!
Be humble or be humbled.
  • #12,183
  • Mar 18, 2014 8:08pm Mar 18, 2014 8:08pm
Had to close it at a negligible loss. It can't even hold current price levels without creating new lows now. I may get long again though.

The Fed Chair in less than 24 hours. Big time. Maybe buy USD?
Be humble or be humbled.
  • #12,184
  • Mar 18, 2014 8:52pm Mar 18, 2014 8:52pm
Quoting Temujin
Do you use investing.com? They included Bitcoin among their Forex majors, LOL!! Look on the right menu where you can click on Indices, Commodities, Forex and Bonds. It's under FOREX, LOL!!

That is pretty funny (except to anyone who has been caught up in the situation).

As for Chair Yellen's press conference tomorrow, I am curious how long she will take questions after her opening statement and how it could play out in the market.
http://blogs.wsj.com/economics/2014/...fed-wednesday/
  • #12,185
  • Edited 9:54pm Mar 18, 2014 9:10pm | Edited 9:54pm
My goodness! They want these interest rates like forever near zero. Get ready to SELL THIS MARKET HARD. China just reported the worst quarter for it's steel sector since 2000. I think we are down to days now. At any time all it will take is that one straw to break the algorithm's back and WHOOSH!

I use the DOW Jones. You can see after 5 years it's making a 3rd attempt to break out but too many signs of a market top are developing.
Attached Image (click to enlarge)
Click to Enlarge Name: us30cash-d1-tw-corp.png Size: 44 KB
Be humble or be humbled.
  • #12,186
  • Mar 18, 2014 9:27pm Mar 18, 2014 9:27pm
With all the all the BOJ, GBP and FMOC statements and news on the horizon and the 10 to maybe 20 pip movement consolidation movement,
I am viewing no reason to jump into anything now but to wait to see if any of the announcements produce an immediate but maybe
short lived (because of the sequence of announcements) coat tailed direction to jump upon.
  • #12,187
  • Mar 18, 2014 9:54pm Mar 18, 2014 9:54pm
Quoting eNjoyPips
{quote} We are on the way forming another leg down. Critical level 167.8. I would like to see if this level holds today. If it holds, I will go long. if not, I will look for shorting opportunities. Will keep updated. Add: What I meant from "If it holds I will go long" is that if Daily candle closes above 167.8, then I would long around there. Since I don't use SL, I hedge if the position goes against me. Position for my hedge would depend on Daily low for today.
Based on yesterday's US open ( or a few hours before for US residents), pair held 167.8 critical level.

However we are not safe from that level yet.

We need to enter 169.2-169.6 zone, with break and 4 hour close above 169.72, to continue extending towards 170.49.

Any 4hour close below 167.8, brings new level at 167.

Add: 167.8/167.9 might be touched again prior to today's US open. Lets see.
  • #12,188
  • Mar 18, 2014 9:55pm Mar 18, 2014 9:55pm
Quoting mercy seat
{quote} Hmm ... yes ... I think it is nicer if it drops directly ... But who knows ? ... Currently it is a tricky situation ... we are too near at the borderlines ... at least from a perspective of a day-trader ... ;-|

GBP/JPY :


First move been down again ... more or less a direct drop type of move ...

And no ... we were not much surprised of that ... as you can see with ease ... Attachment ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,189
  • Mar 18, 2014 10:44pm Mar 18, 2014 10:44pm
Anyone dare to hold long or short before the Fed Chair press?
Be humble or be humbled.
  • #12,190
  • Mar 18, 2014 10:55pm Mar 18, 2014 10:55pm
15M chart only......these days.....but one thing.....the 333 sma is doing it's usual barrier thing....
  • #12,191
  • Mar 18, 2014 11:26pm Mar 18, 2014 11:26pm
Hey! Hello GJ. Yeah the 168.00 so far is holding. The Fed is strange. Taper another 10 billion for next month that's a given, done. This interest rate thing is tentative. Moving the bar for unemployment numbers to start to raise rates. Whoever grabbed that the closest to 168.00 flat is scoring now.
Be humble or be humbled.
  • #12,192
  • Mar 18, 2014 11:30pm Mar 18, 2014 11:30pm
333 SMA? Wow, that's a new one for me. I gotta check it out now.
Be humble or be humbled.
  • #12,193
  • Mar 18, 2014 11:33pm Mar 18, 2014 11:33pm
Whoa! pretty amazing! It does not make any sense but on the 15 minute chart it respects the level almost perfectly. 5 min. also.
Be humble or be humbled.
  • #12,194
  • Mar 19, 2014 12:30am Mar 19, 2014 12:30am
Quoting Temujin
Anyone dare to hold long or short before the Fed Chair press?
Im long 168.55 tp 169.43
  • #12,195
  • Mar 19, 2014 1:55am Mar 19, 2014 1:55am
Quoting khol_hands
{quote} Im long 168.55 tp 169.43
That's a pivot point, price could turn south here, careful!
  • #12,196
  • Mar 19, 2014 2:52am Mar 19, 2014 2:52am
I'm anticipating fireworks north on this pair today - technically it's perfectly positioned for a strong break out, but the timing all depends on the news, so catching this up move is going to be the tricky part. Big day for sterling.
  • #12,197
  • Mar 19, 2014 3:15am Mar 19, 2014 3:15am
Sell the rally is the theme for the pair at present unless substantial news flow comes in favor of Yen. No tapering from Yelen could provide oxygen.
  • #12,198
  • Mar 19, 2014 3:41am Mar 19, 2014 3:41am
Sell the rally yes. Unless the U.S. economy takes a drastic downturn cuts in the bond purchases will proceed.
Be humble or be humbled.
  • #12,199
  • Mar 19, 2014 3:43am Mar 19, 2014 3:43am
Quoting cat
I'm anticipating fireworks north on this pair today - technically it's perfectly positioned for a strong break out, but the timing all depends on the news, so catching this up move is going to be the tricky part. Big day for sterling.
it can take either directions...too many variables for me today...I am out until US session...pending buy at 166.61...I am bear biased until 167
  • #12,200
  • Mar 19, 2014 3:51am Mar 19, 2014 3:51am
Sell it at 169.08.
Be humble or be humbled.
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