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Geppy's Geppy Thread (GBP/JPY)

  • #12,261
  • Mar 20, 2014 4:27pm Mar 20, 2014 4:27pm
Approximately 34 minutes until ROLL ...

Tomorrow I will be off from here most likely ...

No trades from my side therefore ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,262
  • Mar 20, 2014 4:51pm Mar 20, 2014 4:51pm
Quoting Jeremy Oak
Starting to notice a possible head and shoulders pattern on the 15 min chart {image}
just for fun...
Attached Image (click to enlarge)
Click to Enlarge Name: 4cdb9854a7c525b7ff58746df1a21ec4.png Size: 63 KB

hope its ok..
when GOD brings you a challenge he also gives you the power to deal with it
  • #12,263
  • Mar 20, 2014 5:30pm Mar 20, 2014 5:30pm
Quoting Jeremy Oak
Starting to notice a possible head and shoulders pattern on the 15 min chart {image}
Well, let's see if they can hold the line at 169.00 Jeremy. I also see a double bottom on the 15 min.

"Wall Street Looks into Earnings to Confirm Valuations." No, this market has gone bad now but this B.S. may give us some time before the the big correction that is coming. No way that valuations are any where near below full value. The way they are priced now are they looking at earnings for the next 2 years? They seem to be priced in already. This is absurd. This market will fall, it will correct big time and soon. Be careful out there.

Still long at 169.11 but ready to exit fast.
Be humble or be humbled.
  • #12,264
  • Edited 5:57pm Mar 20, 2014 5:46pm | Edited 5:57pm
As to whether it attempts back to 169.2 or 169.4 or even 169.6 ~8 is a moot point. Either way, I expect it to start breaking down soon.

In either the final move of a triangle into the 166x area, or just barely possibly to about 163 in a bullish wedge ..... or ........

Only a hold over 170.1 and 170.7 would threaten that view
  • #12,265
  • Mar 20, 2014 7:31pm Mar 20, 2014 7:31pm
Quoting Mpt
As to whether it attempts back to 169.2 or 169.4 or even 169.6 ~8 is a moot point. Either way, I expect it to start breaking down soon. In either the final move of a triangle into the 166x area, or just barely possibly to about 163 in a bullish wedge ..... or ........ Only a hold over 170.1 and 170.7 would threaten that view
It appears so. Japan is closed due to a holiday. Vernal Equinox Day. Huh?
Be humble or be humbled.
  • #12,266
  • Mar 20, 2014 8:01pm Mar 20, 2014 8:01pm
Creating lower lows in this session with no sign of bidders, I'm out.
Be humble or be humbled.
  • #12,267
  • Mar 20, 2014 8:08pm Mar 20, 2014 8:08pm
Quoting Temujin
Creating lower lows in this session with no sign of bidders, I'm out.

Ja ... indeed ... not tempting at this moment ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,268
  • Mar 20, 2014 8:12pm Mar 20, 2014 8:12pm
And it is a Friday ... no reason to lean out of the window ...

;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,269
  • Mar 20, 2014 9:09pm Mar 20, 2014 9:09pm
Quoting mercy seat
And it is a Friday ... no reason to lean out of the window ... ;-|
That is true. I see something else now though, it's being supported on multiple time frames. I think this will be the start of a grind higher, inch by inch.
Be humble or be humbled.
  • #12,270
  • Mar 20, 2014 10:18pm Mar 20, 2014 10:18pm
At this point, considering a 5 point spread and 10-13 pip movement, since about 4 est most currencies have been in a very slow almost consolidation
period with no aggressive turns in direction. There looks to be no major announcements on the horizon. So I watch and wait for some aggressive move.
  • #12,271
  • Mar 20, 2014 11:09pm Mar 20, 2014 11:09pm
Today is a holiday here in Japan.

After watching p.a through last night, I can conclude this does not bode well for bulls after all.

Today's Levels

171.5/171.7
170.63/170.75
169.6/169.75 (This is target for bulls, prior to US open)
168.7/168.8 (This level is do or die for bulls, 4 hour close below this brings bears back to life)
167.7/167.8 (Bears would love to see this level again)
167.45/167.55 (If bears win, this will be the target for today)
166.5
165.8 (Long term ascending trendline + critical support for bulls)

We would need to see how Europe performs. After Europe if 169.6 not achieved, I will close all longs.

Remember, trade safely, today is crazy Friday.
  • #12,272
  • Mar 21, 2014 12:47am Mar 21, 2014 12:47am
Hourly TF => : EURUSD 1.3781 (-1) ... USDCHF 0.8835 (+1) ... GBPUSD 1.6507 (-1) ... USDJPY 102.43 (+1) ... USDCAD 1.1239 (+4) ... EURJPY 141.14 (+3) ... AUDUSD 90.37 (+2) ... NZDUSD 85.33 (+2) ... GBPJPY 169.07 (+1) ... GBPAUD 1.8262 (±0) ... Thursday 19. Mar 2014 ... 23h09 CET



Geppy :


If I would be forced to try something with this pair ... then I would look for buy trades at first ...

Trend = neutralized, but with mild positive bias. Central pivotal zone is around 169.17 ...

Recovery games at first as long as 168.81 or 168.55 can offer prop up ... then 169.35 or 169.60 again ...

But no continuation unless any cross of above 169.90 and 170.30 then. And if capped ahead of those zones then down again. No break out no shake out ...

Critical support is considered at 168.37 and then 167.90 for today ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,273
  • Mar 21, 2014 1:40am Mar 21, 2014 1:40am
Quoting eNjoyPips
Today is a holiday here in Japan. After watching p.a through last night, I can conclude this does not bode well for bulls after all. Today's Levels 171.5/171.7 170.63/170.75 169.6/169.75 (This is target for bulls, prior to US open) 168.7/168.8 (This level is do or die for bulls, 4 hour close below this brings bears back to life) 167.7/167.8 (Bears would love to see this level again) 167.45/167.55 (If bears win, this will be the target for today) 166.5 165.8 (Long term ascending trendline + critical support for bulls) We would need to see how Europe...

Yup!


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,274
  • Mar 21, 2014 2:34am Mar 21, 2014 2:34am
GBP/JPY :


Currently it is set to slide a few steps further ...

As mentioned already ... I will be off from here ...

Let's see who will start to take a trade ... and if it is a buying activity or selling action ...

If there has been no ideas of ENTRIES before then there is no need to jabber about EXITS later then ...

1. 2-day barchart ...

2. 3-day barchart ...

3. Weekly barchart ...

4. Four hour barchart ...

Good luck!


;-|
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-03-21_08h09_ GBPJPY _ 2-day _ (2Yr-spm) barchart (PAR 0.1 + 0.02).PNG Size: 26 KB
Click to Enlarge Name: 2014-03-21_08h09_ GBPJPY _ 3-day _ (5Yr-spm) barchart (PAR 0.1 + 0.02).PNG Size: 33 KB
Click to Enlarge Name: 2014-03-21_08h12_ GBPJPY _ weekly _ (500-spm) barchart (PAR 0.1 + 0.02).PNG Size: 34 KB
Click to Enlarge Name: 2014-03-21_08h12_ GBPJPY _ min240 _ (500-spm) barchart (PAR 0.1 + 0.02).PNG Size: 32 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,275
  • Mar 21, 2014 2:55am Mar 21, 2014 2:55am
H1 - now that's what you call a candle!
  • #12,276
  • Mar 21, 2014 2:56am Mar 21, 2014 2:56am
Quoting cat
H1 - now that's what you call a candle!
why will drop dramatically ?
  • #12,277
  • Mar 21, 2014 2:57am Mar 21, 2014 2:57am
Quoting eNjoyPips
Today is a holiday here in Japan. After watching p.a through last night, I can conclude this does not bode well for bulls after all. Today's Levels 171.5/171.7 170.63/170.75 169.6/169.75 (This is target for bulls, prior to US open) 168.7/168.8 (This level is do or die for bulls, 4 hour close below this brings bears back to life) 167.7/167.8 (Bears would love to see this level again) 167.45/167.55 (If bears win, this will be the target for today) 166.5 165.8 (Long term ascending trendline + critical support for bulls) We would need to see how Europe...
Sorry for the late post.

Was acting on my account. All longs closed at 168.7.

So bears prevail. 168.7 support broken and will definitely close below.

So next target is 167.79. This is critical level of support. If broken, we will see 167.45 quick.
  • #12,278
  • Mar 21, 2014 3:01am Mar 21, 2014 3:01am
Quoting waifong
{quote} why will drop dramatically ?
Why? Because it wants to drop. We need to react to sudden changes especially with this pair.

By US open the sentiment might be up again.

We shall see how this Europe session goes.
  • #12,279
  • Mar 21, 2014 3:13am Mar 21, 2014 3:13am
Quoting waifong
{quote} why will drop dramatically ?
Your charts should tell you that. When this baby moves, it moves faster and further than any major pair out there, which is why we trade it
ps-Has it found support? Well, it's a bit too early to say, but, it needed to drop to this level, and I always watch the 76.4% fib re-trace level very carefully, anchored in this case from the low on the 18th.
  • #12,280
  • Mar 21, 2014 3:20am Mar 21, 2014 3:20am
I have found that one of the keys to trading this pair is understanding gu and uj.

gu has been bearish post FOMC it broke an important trendline and has been trending lower since.

uj remained in a tight range yesterday forming a small doji following a large candle the day before, together making up a bearish harami cross.
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