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Geppy's Geppy Thread (GBP/JPY)

  • #12,901
  • Apr 8, 2014 3:34am Apr 8, 2014 3:34am
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}
After that positive manufacturing report and the double bottom on the 4 hour, i think we're going back up to 173
  • #12,902
  • Apr 8, 2014 3:37am Apr 8, 2014 3:37am
Nice I got out, and there so many retail shorts SMH about 60%
  • #12,903
  • Apr 8, 2014 3:51am Apr 8, 2014 3:51am
cut, due to reversal.. hheu
  • #12,904
  • Apr 8, 2014 4:11am Apr 8, 2014 4:11am
Still holding my short, although quite heavily underwater at the moment. Price doesn't seem to want to rise from here, maybe a bearish rectangle??? Grasping at straws perhaps?

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  • #12,905
  • Apr 8, 2014 4:28am Apr 8, 2014 4:28am
Quoting samalmoore
Still holding my short, although quite heavily underwater at the moment. Price doesn't seem to want to rise from here, maybe a bearish rectangle??? Grasping at straws perhaps? {image}
Anyway, I think to sell at this point would be a good RR trade, stoploss just north of the rectangle tp at least the distance of the rectangle below....
  • #12,906
  • Apr 8, 2014 4:36am Apr 8, 2014 4:36am
http://www.bloomberg.com/news/2014-0...-since-07.html
  • #12,907
  • Apr 8, 2014 4:45am Apr 8, 2014 4:45am
Decision point (5) 171.00/0.80 holding, positive.
  • #12,908
  • Apr 8, 2014 4:46am Apr 8, 2014 4:46am
Quoting IveGotQuads
Nice I got out, and there so many retail shorts SMH about 60%
Thats a good point and also the reason what probably pushing price higher, even if it doesnt represent all market participants.
  • #12,909
  • Apr 8, 2014 4:51am Apr 8, 2014 4:51am
Quoting FX-Ray
Decision point (5) 171.00/0.80 holding, positive.
Upside targets are 172.20/00 and 173.40/20
  • #12,910
  • Apr 8, 2014 5:15am Apr 8, 2014 5:15am
Quoting FX-Ray
{quote} Upside targets are 172.20/00 and 173.40/20
wright
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  • #12,911
  • Apr 8, 2014 5:30am Apr 8, 2014 5:30am
Quoting FX-Ray
http://www.bloomberg.com/news/2014-0...-since-07.html


http://www.businessweek.com/news/201...ity-currencies

This article was posted to FF a short while ago, and is a decent concept to consider give BOJs choice to not ease at this point.

"'It’s hard for the BOJ to achieve the same impact with stimulus again so a surprise has to come from the timing...'"


Adding: Bloomberg News was heavily reporting the Ukraine issue last night, and wonder if it will return as a driver behind further market moves in the coming days. I defer to Temujin on this since this is more his arena.

I also watched a news report this morning that indicated the BOJ might consider buying equities, given that bond purchases are likely nearly overdone.
  • #12,912
  • Edited 11:39am Apr 8, 2014 11:17am | Edited 11:39am
Up or down guys?

I'm still hoping for the move down through edit: 170.7 (bearish rectangle) and towards 169.9 (rising TL and completion of rectangle)...
  • #12,913
  • Apr 8, 2014 11:36am Apr 8, 2014 11:36am
Quoting samalmoore
Up or down guys? I'm still hoping for the move down through 170 (bearish rectangle) and towards 169.9 (rising TL and completion of rectangle)...
Nice descending triangle on the 5 minute towards the 50% fibo...
  • #12,914
  • Apr 8, 2014 12:47pm Apr 8, 2014 12:47pm
Where are you FxRay and HDA? What further GBPJPY and USDJPY?
  • #12,915
  • Apr 8, 2014 2:11pm Apr 8, 2014 2:11pm
Quoting Siuwax88
Where are you FxRay and HDA? What further GBPJPY and USDJPY?
from quick review of D1 you could see all the relevant levels on the chart.

Current price (170.20) is quarter pivot for Q2 on GJ. If we push through this level, we will head toward
167.20-60 area pretty soon. if 167.20-60 cracks, than we go to 163.80-164.60

PS: note activated triple top on D1, this is a strongly bearish sign (more downside).
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  • #12,916
  • Apr 8, 2014 2:23pm Apr 8, 2014 2:23pm
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!
Finally entered a short today @ 170.70 with a shooting star below 100 ema targeting 200pips with 100pips stp... the trade is not a sweet one so i'll watch closely and close if need be at BE or re-enter when there is a retracement.

Happy pipping pals!
  • #12,917
  • Apr 8, 2014 2:42pm Apr 8, 2014 2:42pm
Quoting alukojoshfx
{quote} Finally entered a short today @ 170.70 with a shooting star below 100 ema targeting 200pips with 100pips stp... the trade is not a sweet one so i'll watch closely and close if need be at BE or re-enter when there is a retracement. Happy pipping pals!
nicely done, congrats.
  • #12,918
  • Apr 8, 2014 2:48pm Apr 8, 2014 2:48pm
Quoting ruffryders
{quote} nicely done, congrats.

thanks roughryders, seems i would love to target fx-ray sweet spot. Sincerely i would have love to enter more lots but the trade setup wasnt too perfect for my liken any retracement will be a add up for me hoping it rides at least 300 pips down.. but seriously watching cos its not the best setup despite MACD -ve and shooting star on 4H and 100 EMA above.. still dint look so great but its worth a trial. Anyone going short?
  • #12,919
  • Apr 8, 2014 2:52pm Apr 8, 2014 2:52pm
Hi, it is interesting. GBP/USD was a rocket today, but due to JPY strength this was going down. Still had a short from yesterday, but I think I will just hold this and move the Stop to BE. Setup is just too nice. The price above 173/174 was rejected several times plus pinbars and bearish engulfing on the daily. With a retracement of GBP/USD and more JPY strength, this could easily give some more pips.
Fix up, trade sharp ...
  • #12,920
  • Apr 8, 2014 2:56pm Apr 8, 2014 2:56pm
Quoting alukojoshfx
{quote} thanks roughryders, seems i would love to target fx-ray sweet spot. Sincerely i would have love to enter more lots but the trade setup wasnt too perfect for my liken any retracement will be a add up for me hoping it rides at least 300 pips down.. but seriously watching cos its not the best setup despite MACD -ve and shooting star on 4H and 100 EMA above.. still dint look so great but its worth a trial. Anyone going short?
here's my take on Nikkei D1 chart. Now if this H&S does in fact break to the downside, this will trigger huge down move in UJ and GJ/EJ.
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