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Geppy's Geppy Thread (GBP/JPY)

  • #12,481
  • Mar 28, 2014 2:43am Mar 28, 2014 2:43am
Quoting Mpt
If it is really in a major uptrend, then it will break 170 then the very significant weekly resistance at 170.2/3 and then proceed directly to the top with little in its way.
At this moment, still looking good with uptrends on 5, 15, 30 and 60 min charts; and 4 hour chart breaking 169.55 resistance horizontal line.
  • #12,482
  • Mar 28, 2014 3:09am Mar 28, 2014 3:09am
Quoting LetsTrade
{quote} At this moment, still looking good with uptrends on 5, 15, 30 and 60 min charts; and 4 hour chart breaking 169.55 resistance horizontal line.
I think it will fall
  • #12,483
  • Mar 28, 2014 3:17am Mar 28, 2014 3:17am
I got 2 shorts on this , and GBPAUD, to me its accumulating, probably for the news coming soon?
  • #12,484
  • Mar 28, 2014 3:21am Mar 28, 2014 3:21am
Quoting Mpt
{quote} I think it will fall
Yes, it might jump to 170.20 and then fall. Some news will be out in just over an hour's time, then it should happen and just before.
  • #12,485
  • Mar 28, 2014 3:57am Mar 28, 2014 3:57am
Quoting Mpt
{quote} I think it will fall
Since some in this forum call for shorts, let me call for long! However, I will close my long and convert to shorts if movement goes against me.

If long: my first target would be 170.3, and then 170.77.
If I open short and close long, I would be looking at 168.7-169, depending on momentum. This 168.7-169 area is psychological uptrend for Bulls on daily chart. Any Daily close below this, Long term bulls are in trouble.
  • #12,486
  • Mar 28, 2014 4:04am Mar 28, 2014 4:04am
One Hour TF => : EURUSD 1.3742 (-1) ... USDCHF 0.8867 (+1) ... GBPUSD 1.6605 (+2) ... USDJPY 102.23 (±0) ... USDCAD 1.1034 (-2) ... EURJPY 140.48 (-1) ... AUDUSD 92.58 (+5) ... NZDUSD 86.69 (+7) ... EURAUD 1.4842 (-6) ... GBPJPY 169.72 (+4) ... GBPAUD 1.7934 (-6) ... Thursday 27. Mar 2014 ... 23h00 CET



Survey with correlation calculation results (Hourly TF) on a day to day basis ...

GBP/JPY looks set to range trade with a mild bullish tone ... valid as long as above 168.72 - 168.20 zone ...
DPP at 169.56 ... then we have 169.40 - 169.35 prop up zone ... major supports near 168.77 ... then 168.20 - 02 critical zone ...
Projections at 170.11 ... then 170.33 or above 170.60 in case of extension ...



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,487
  • Mar 28, 2014 4:04am Mar 28, 2014 4:04am
Quoting eNjoyPips
{quote} Since some in this forum call for shorts, let me call for long! However, I will close my long and convert to shorts if movement goes against me. If long: my first target would be 170.3, and then 170.77. If I open short and close long, I would be looking at 168.7-169, depending on momentum. This 168.7-169 area is psychological uptrend for Bulls on daily chart. Any Daily close below this, Long term bulls are in trouble.
What you don't get is that much over 170.3 it's open all the way to to the top. Horizontal levels do not always work.
  • #12,488
  • Mar 28, 2014 4:08am Mar 28, 2014 4:08am
Quoting eNjoyPips
{quote} Since some in this forum call for shorts, let me call for long! However, I will close my long and convert to shorts if movement goes against me. If long: my first target would be 170.3, and then 170.77. If I open short and close long, I would be looking at 168.7-169, depending on momentum. This 168.7-169 area is psychological uptrend for Bulls on daily chart. Any Daily close below this, Long term bulls are in trouble.
I can confirm now 90% chance upside move.

Reason: My 2hour and 4 hour Ichimoku charts tell me they are heading up. 2 hour charts just showed bullish engulfment plus macd failed to break into negative zone. 4 hour chart macd remains positive.

@MPT: Horizontal levels work, at least for me. Go back a few pages and look how I called 167.78 low. Plus these levels are more of supports and resistances, meaning they can either bounce or break. if break means we see to another level, if bounce means we head back to previous level.
  • #12,489
  • Mar 28, 2014 4:14am Mar 28, 2014 4:14am
Quoting eNjoyPips
{quote} Since some in this forum call for shorts, let me call for long! However, I will close my long and convert to shorts if movement goes against me. If long: my first target would be 170.3, and then 170.77. If I open short and close long, I would be looking at 168.7-169, depending on momentum. This 168.7-169 area is psychological uptrend for Bulls on daily chart. Any Daily close below this, Long term bulls are in trouble.

Goodie goodie ... ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,490
  • Mar 28, 2014 4:16am Mar 28, 2014 4:16am
Quoting eNjoyPips
{quote} I can confirm now 90% chance upside move. Reason: My 2hour and 4 hour Ichimoku charts tell me they are heading up. 2 hour charts just showed bullish engulfment plus macd failed to break into negative zone. 4 hour chart macd remains positive. @MPT: Horizontal levels work, at least for me. Go back a few pages and look how I called 167.78 low. Plus these levels are more of supports and resistances, meaning they can either bounce or break. if break means we see to another level, if bounce means we head back to previous level.
They do not always work. Particularly in a correction. They are no different to an Elliot wave call that calls a firm direction - with little regard to the opposite. There is always obvious support or resistance that can be seen, but they do not support a direction.

Having said that, I remain open to an up move.
  • #12,491
  • Mar 28, 2014 4:21am Mar 28, 2014 4:21am
Yes ... of course ... nothing works always ... but some methods work better ... and some are not suitable ...
Let's work with probabilities ...
Be aware ... it's a crazy Friday ... no need to lean out of the windows on a late Friday ... and always be prepaired for the unexpected ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,492
  • Edited 4:34am Mar 28, 2014 4:23am | Edited 4:34am
7 mins to news, set a small short here, lets see where it goes.[ expected more impact but oh well, still holding my shorts]
  • #12,493
  • Mar 28, 2014 4:23am Mar 28, 2014 4:23am
Quoting Mpt
{quote} They do not always work. Particularly in a correction. They are no different to an Elliot wave call that calls a firm direction - with little regard to the opposite. There is always obvious support or resistance that can be seen, but they do not support a direction. Having said that, I remain open to an up move.
yes yes they do not always work but they are good for targets. its part of keeping profits especially this pair runs wildly up and down when u least expect.
  • #12,494
  • Mar 28, 2014 4:25am Mar 28, 2014 4:25am
I like easy trades and horizontal levels help with that, im still bearish in the short term and of course every time frame is screaming long ..1hr weekly etc but I prefer confirmations before entering a trade . The negative about news events is that its swift so if you not in say a 20-30 + pip cushion before it comes out It doesnt matter if you right in direction as it can whipsaw and stop you out. Some ppl trade with no Stop loss and its fine , I just cant do that. Maybe if I was manging 100's of millions perhaps.
  • #12,495
  • Mar 28, 2014 4:39am Mar 28, 2014 4:39am
Bullish technicals - poor data = confusion. If the data had been good, this would be 100 pips to the north by now just like yesterday.
  • #12,496
  • Mar 28, 2014 4:44am Mar 28, 2014 4:44am
Quoting cat
Bullish technicals - poor data = confusion. If the data had been good, this would be 100 pips to the north by now just like yesterday.
the data doesnt matter in my opinion. Data will flip some M1-M5 candles, but wont affect the major trend unless they dont change their interests.

Attached Image (click to enlarge)
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J
Hero calls followed by margin calls...
  • #12,497
  • Mar 28, 2014 4:50am Mar 28, 2014 4:50am
Quoting PhAnTi'
{quote} the data doesnt matter in my opinion. Data will flip some M1-M5 candles, but wont affect the major trend unless they dont change their interests. {image} J
You're right, the price always returns to the trend once the hysterics are over. Jesse Livermore said this and he was right.
  • #12,498
  • Mar 28, 2014 4:55am Mar 28, 2014 4:55am
Quoting cat
{quote} You're right, the price always returns to the trend once the hysterics are over. Jesse Livermore said this and he was right.
I don't know if its something that should hold true for all markets. Livermore traded stocks. Not currencies.

I almost feel like currencies are an entirely different animal than stocks. Currencies a change in trend can change in any second for whatever reason.

Tell me what currency trader can sit back and relax like an equity speculator can. Speculators are at the edge of their seats. Even more so now that they are free floating.
The coincidental success is more dangerous than the expected failure
  • #12,499
  • Mar 28, 2014 5:02am Mar 28, 2014 5:02am
Quoting Neqrotik
{quote} I don't know if its something that should hold true for all markets. Livermore traded stocks. Not currencies. I almost feel like currencies are an entirely different animal than stocks. Currencies a change in trend can change in any second for whatever reason.
I disagree. Stocks actually drive currencies for the most part. Currencies can be more volatile, but trends hold just as well as they do with stocks or commodities. If currencies as you say can change direction in seconds for no apparent reason, then it would be impossible to trade them, which we know is not true.
  • #12,500
  • Mar 28, 2014 5:10am Mar 28, 2014 5:10am
By the way, although personally I am an intra-day trader who pays attention to my charts and nothing else, there is a brilliant book by Ashraf Laidi, who some of you may know of, which explains the inter-relationships between stocks, commodities and currencies - a very informative book indeed.
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