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Geppy's Geppy Thread (GBP/JPY)

  • #12,281
  • Mar 21, 2014 3:29am Mar 21, 2014 3:29am
Quoting caldera
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.
Yep, if you're not analyzing UJ and GU as well, you're flying blind.
  • #12,282
  • Mar 21, 2014 3:43am Mar 21, 2014 3:43am
time to buy?
  • #12,283
  • Mar 21, 2014 3:47am Mar 21, 2014 3:47am
Quoting jimi
time to buy?
time to reload more shorts
when GOD brings you a challenge he also gives you the power to deal with it
  • #12,284
  • Mar 21, 2014 3:51am Mar 21, 2014 3:51am
Going Long!
Adding more Longs.. Whatever is happening is just reaction to Sanctions, not something from Japan to strengthen the JPY.. Further weakness is still open for JPY and more upside in hand for GBPJPY
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #12,285
  • Mar 21, 2014 4:00am Mar 21, 2014 4:00am
Quoting aviz12
Going Long! Adding more Longs.. Whatever is happening is just reaction to Sanctions, not something from Japan to strengthen the JPY.. Further weakness is still open for JPY and more upside in hand for GBPJPY
So it had little to do with the coincidence of hitting a channel top back at 173 that had its origins back in 1996? They must have been thinking of sanctions already back then I guess. Very forward thinking those folks in 1996.

Same applies to UJ at 105 hitting a channel top dating back to 1998. I'm also assuming that a UJ move from 75 to 105 in only 25 months is definitely not enough yen weakening?
  • #12,286
  • Mar 21, 2014 4:19am Mar 21, 2014 4:19am
Quoting Alki
Global view gives me this: 169 level went from main support (daily - 4H - 1H) to become main resistance. Since 13/03/14 it went 130 pips down against 65 pips up. Since 24/01/14, it went 500 pips down against 450 pips up. Looks like we are heading south. To confirm a point of view of bears or bulls, it needs go through at least more than 130 pips for north to really reverse to north, and (130/65=2) 130x2 = 260 pips at least to confirm south. That means that crossing 170.30 will be a good long entry for me and lower than 166.4 is a confirmation for...
Even it went south, but for me still waiting for 166.40 level to confirm bear, even my shorts are giving some results. The strange thing in the story is JPY still standing in a very small range.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #12,287
  • Mar 21, 2014 5:29am Mar 21, 2014 5:29am
Quoting jimi
time to buy?
"Only" 40 pips gain.............
Attached Image (click to enlarge)
Click to Enlarge Name: gj.png Size: 47 KB
  • #12,288
  • Mar 21, 2014 5:36am Mar 21, 2014 5:36am
Quoting aviz12
Going Long! Adding more Longs.. Whatever is happening is just reaction to Sanctions, not something from Japan to strengthen the JPY.. Further weakness is still open for JPY and more upside in hand for GBPJPY
I am going more Long!!
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #12,289
  • Mar 21, 2014 5:49am Mar 21, 2014 5:49am
what is the next possible move for this Geppy? I'v just put a small short..
  • #12,290
  • Mar 21, 2014 5:50am Mar 21, 2014 5:50am
Bulls fighting for 169.

As long as it does not close above 169.35, bears are safe and should have no problem obtaining 167.78-167.55 level by early next week, if not today.

Current level of resistance: 168.8/169.
  • #12,291
  • Mar 21, 2014 6:04am Mar 21, 2014 6:04am
thanks for your valuable input, eNjoyPips..
  • #12,292
  • Mar 21, 2014 6:05am Mar 21, 2014 6:05am
The biggest thing i hate in Forex: yoyo.

Hammer is the biggest ennemy of traders.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #12,293
  • Mar 21, 2014 6:07am Mar 21, 2014 6:07am
Quoting afiffx
what is the next possible move for this Geppy? I'v just put a small short..
I agree, I see levels at 168.2 and 167.4-5
  • #12,294
  • Mar 21, 2014 6:46am Mar 21, 2014 6:46am
The never ending UJ fight at 102.2/3. Now the GU fight at 1.65. For GJ, panic at the trendline.


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 40 KB
  • #12,295
  • Mar 21, 2014 7:20am Mar 21, 2014 7:20am
You were right MPT, it's breaking down. I don't want to trade it this Friday. I see something that may be okay. After generational lows AUD/NZD finally coming up now that both are weaker to the U.S. dollar? Target 112.00? Have a good weekend everyone, gotta run.
Be humble or be humbled.
  • #12,296
  • Mar 21, 2014 7:29am Mar 21, 2014 7:29am
The length of time it spends in this area may be an early indication as to its longer term intentions. Obviously, it's had a hard time dropping out and down ; if it now moves down quickly, it probably just means it's in a bullish triangle / something. On the other hand, if it hangs around here for a day or three and keeps retesting, any such action MAY be a hint that its intentions are a little more bearish.
  • #12,297
  • Mar 21, 2014 8:35am Mar 21, 2014 8:35am
time to sell or crazy friday?
  • #12,298
  • Mar 21, 2014 9:21am Mar 21, 2014 9:21am
Quoting mercy seat
Hello fellow traders! Moin! Geppy violated its critical zone this morning. But it has not been confirmed below that area ... GBP/JPY : I just came back and did start with a single position ENTRY sell @ 168.847 ... Stop = 169.25 valid until 15h00 CET 13h58 CET ... ;-|

Okay ...


GBP/JPY :


Meanwhile we have had another ENTRY in a higher zone ... 168.937 ... 14h50 CET ...

Sequestration in 168.68 zone ...

Stops cancelled ...


;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-21_15h23_ GBPJPY _ min060 _ (200-spm) candlesticks (PSAR + PP).PNG Size: 40 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,299
  • Mar 21, 2014 10:05am Mar 21, 2014 10:05am
Quoting eNjoyPips
Bulls fighting for 169. As long as it does not close above 169.35, bears are safe and should have no problem obtaining 167.78-167.55 level by early next week, if not today. Current level of resistance: 168.8/169.
So far bulls fail to takeover 169 zone. Only any 4hr close above 169.35 would spring back bulls.

Added shorts around 168.8x. Will carry them over the weekend if not closed by today, as mentioned in earlier post.

Now off to enjoy the weekend once again! Time flies!

Have a great weekend all.

For those curious about my positions, I have shorts from 168.36, 168.84, 168.92.
Tp: 167.78, 167.55 (secondary target depending on momentum)
  • #12,300
  • Mar 21, 2014 10:09am Mar 21, 2014 10:09am
Quoting mercy seat
And a SL with 35 - 40 pips as I did use today is commonly considered as being a super tight stop ... Not good ... only in very rare cases ... ### Hourly chart shows all those reasons we did talk about before in various comments by some of other members here in GJ-thread as well ... A lot of depends where the market will see its closing numbers at the END ... ;-| {image}

GBP/JPY :


Okay ... it doesn't look tempting for me anymore ...

Been not a big deal therfore ... anyway ...

Now we did unwind all the rest in 168.649 zone ... 15h55 CET ...

ENDE GELÄNDE ...

Have a nice week-end!



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
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