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Geppy's Geppy Thread (GBP/JPY)

  • #12,881
  • Apr 7, 2014 12:24pm Apr 7, 2014 12:24pm
great risk/reward GJ trade is now on, confirmed by H4 reversal. LONG 171.33-40 SL 170.70 TP1 172.80 TP2 174.20

reason for the trade: STRONG UJ support @ 103.00
  • #12,882
  • Edited 12:48pm Apr 7, 2014 12:29pm | Edited 12:48pm
Quoting alukojoshfx
{quote} Hi Fx_Ray, please what do you mean sweet spot, at the moment am eagerly waiting for a shooting star below EMA100 for SHORT or a piercing line above EMA100 for long. Your decision point will really help to determine tp/exit, but would love some explanation on the sweet spot? thanks!
I dont pay attention to any moving average, cant help you here.

A sweet spot is the optimal TP if you find yourself long(+)/short(-) at the weekly low/high. If you hold beyond those TP you probably get a decrease in time/profit value.
Exceptions prove the rule.
  • #12,883
  • Apr 7, 2014 5:06pm Apr 7, 2014 5:06pm
Quoting ruffryders
great risk/reward GJ trade is now on, confirmed by H4 reversal. LONG 171.33-40 SL 170.70 TP1 172.80 TP2 174.20 reason for the trade: STRONG UJ support @ 103.00
I simply don't see momentum for a movement long. 103 support is holding though but I think it will not last long. I'm holding my shorts with tight SL ahead of BoJ news.
  • #12,884
  • Apr 7, 2014 5:12pm Apr 7, 2014 5:12pm
Quoting pabloski
{quote} I simply don't see momentum for a movement long. 103 support is holding though but I think it will not last long. I'm holding my shorts with tight SL ahead of BoJ news.
Trend is still up so I think we will be longing again this week after this movement finally bottoms.
  • #12,885
  • Apr 7, 2014 5:52pm Apr 7, 2014 5:52pm
Only a break now of 170.8 and 170.6 would suggest more downside.

A move back over 171.2, on the other hand, would point to a larger range of 170.6 back to 171.6~7/172/172.5 or 173.
  • #12,886
  • Apr 7, 2014 6:28pm Apr 7, 2014 6:28pm
Quoting IveGotQuads
I usually trade earlier than 11 am EST but missed the long move. To some degree on the 1 hr TF the trend is downwards and Ill like to see if it continues, ill be placing a sell stop order @ 171.23 with tp "correction" around "170.00 zone"....gl to others
Ill be adding to this position. sell stop order @ 170.65 below yesterdays low and moved SL to break even. 1hr and 4hr TF bearish, hopefully no matter the news the short term trend continues
  • #12,887
  • Apr 7, 2014 7:04pm Apr 7, 2014 7:04pm
I opened sell position and used last month's low as my target. I put my SL, some pips above last high (look at TF 4H). I uses trail stop too, just in case the price bounce back before hits my target.

Happy trading,
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  • #12,888
  • Apr 7, 2014 7:29pm Apr 7, 2014 7:29pm
I think, price is retracing to 171.08
  • #12,889
  • Apr 7, 2014 8:02pm Apr 7, 2014 8:02pm
I am Neutral awaiting the announcement and then confirmation on a breakout or breakdown.

I can see the argument for a trade, after the large drop since Friday and lower, tighter range near
the bottom edge between two R and S lines as an indicator of a possible breakdown direction, but in trading my plan,
Ill have to treat that as consolidation, as wild as it is, before a/the move.
  • #12,890
  • Apr 7, 2014 8:07pm Apr 7, 2014 8:07pm
Quoting EllisParrish
I am Neutral awaiting the announcement and then confirmation on a breakout or breakdown. I can see the argument for a trade, after the large drop since Friday and lower, tighter range near the bottom edge between two R and S lines as an indicator of a possible breakdown direction, but in trading my plan, Ill have to treat that as consolidation, as wild as it is, before a/the move.
The announcement has been and gone.
  • #12,891
  • Apr 7, 2014 8:20pm Apr 7, 2014 8:20pm
Probably typing when it came over...still hasn't done much.
Some say any action was "priced in"...lets see !
  • #12,892
  • Apr 7, 2014 8:42pm Apr 7, 2014 8:42pm
closed trade for a little over break even. The reversal back into the main trend is too strong to ignore.
  • #12,893
  • Apr 7, 2014 9:09pm Apr 7, 2014 9:09pm
still holding my position
Quote
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  • #12,894
  • Apr 7, 2014 10:15pm Apr 7, 2014 10:15pm
http://www.forexlive.com/blog/2014/0...am-ny-cut-159/
  • #12,895
  • Apr 8, 2014 12:34am Apr 8, 2014 12:34am
kudos for staying in ... 3 hrs of upward movement was enough for me to bail out with no loss. classic double bottom with a pin bar reversal on a strong zone like 170.80 is good enough reason for me. price still looks like its in a decision phase tho
  • #12,896
  • Apr 8, 2014 12:50am Apr 8, 2014 12:50am
Quoting workingforex
{quote} Just an advice, you had quite a run from 169.56. There is always nothing wrong with protecting the profit if you feel uneasy. The uptrend should be okay but always make sure you book-in some profit as well, especially with Geppy. What I have learnt here is never get greedy, you will get a lot of chances and everyday is a new day!
Thanks.It really working
  • #12,897
  • Apr 8, 2014 12:52am Apr 8, 2014 12:52am
Quoting Far-Mar
{quote} CASH it
Wise
  • #12,898
  • Apr 8, 2014 1:12am Apr 8, 2014 1:12am
Hello,

I think GJ could push down to 169.8 (Rising TL) based on a descending triangle on H1, what you guys think?

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  • #12,899
  • Apr 8, 2014 1:32am Apr 8, 2014 1:32am
Quoting samalmoore
Hello, I think GJ could push down to 169.8 (Rising TL) based on a descending triangle on H1, what you guys think? {image}
meh... bad call
  • #12,900
  • Apr 8, 2014 1:33am Apr 8, 2014 1:33am
IMF set to raise UK growth forecasts
http://www.sharecast.com/news/imf-se.../21591431.html
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