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Geppy's Geppy Thread (GBP/JPY)

  • #12,961
  • Apr 11, 2014 1:18pm Apr 11, 2014 1:18pm
Quoting ruffryders
c'mon guys, you can do better than that. Where's GJ headed ? Well, where do you think is UJ headed? What's up on Nikkei lately? DO you think it's breaking the neckline of the massive H&S pattern as we speak? http://www.forexfactory.com/showthre...58#post7397858 My take: UJ going down. EJ/GJ will follow suit.
Not so easy, but 101.85 was sharply rejected today in UJ and PA is telling that buyers are not strong. However, support is still resilient, I do not know if and when it will break, but if so, of course the outcome will be seen in other crosses as well. It is not so easy to find a good entry point here, because we might see some ping pong before a real move as the market is consolidating after the heavy U/J selling atm.
Fix up, trade sharp ...
  • #12,962
  • Apr 11, 2014 1:51pm Apr 11, 2014 1:51pm
Quoting ruffryders
c'mon guys, you can do better than that. Where's GJ headed ? Well, where do you think is UJ headed? What's up on Nikkei lately? DO you think it's breaking the neckline of the massive H&S pattern as we speak? http://www.forexfactory.com/showthre...58#post7397858 My take: UJ going down. EJ/GJ will follow suit.

I think we will see one last (short) gasp to try to find buyers. But, given the potential for additional sanctions announced this weekend, and Lavrov's recent take on de-escalation will drive dispute, buyers will hold off until there is more clarity Sunday.

http://en.cihan.com.tr/news/De-Escal...CHMTQwMTA3Mi80

I also think you are right, Ruffryders, that Nikkei is dangerously close to the big drop and it may be triggered in the futures market over the weekend or early Sunday at the open of the Nikkei. I am not sure if the crosses will follow a deep dive as they have seemed quite resilient to the correlation the past couple of days but they will certainly fall to some degree. Maybe GJ will try for 170.20 before we see a retest of 169.5 today?
  • #12,963
  • Apr 11, 2014 1:54pm Apr 11, 2014 1:54pm
by the way, anyone else getting bored with hearing pundits use the term 'catching a falling knife'?
  • #12,964
  • Apr 11, 2014 2:10pm Apr 11, 2014 2:10pm
GJ already decided the direction. See H6 chart with highlights. That's telling the story.
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  • #12,965
  • Apr 12, 2014 4:08pm Apr 12, 2014 4:08pm
gbp jpy - trade what you see.
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  • #12,966
  • Apr 12, 2014 4:17pm Apr 12, 2014 4:17pm
Quoting ruffryders
gbp jpy - trade what you see. {image}
Not the most convincing PA but the level this is coming off is great here for a short IMO as price has CLEARLY respected 170 and now closed below with a bearish engulfing candle, only thing that troubles me is the massive chop below showing price found support there previous so I would play this tight or tighter than I normally would for a trend follow trade.
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All posts are my personal opinion
  • #12,967
  • Apr 13, 2014 12:35pm Apr 13, 2014 12:35pm
longer-term outlook on gbp jpy. Unless the trendline holds the price action, i'd be looking to short sell.
possible setup short sell @ 166.60 sl 100 tp 162 going for 4 to 1 r/r here.
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  • #12,968
  • Apr 13, 2014 10:06pm Apr 13, 2014 10:06pm
I'll buy on 169,50 with stop loss of 20 pips.
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  • #12,969
  • Apr 14, 2014 12:52am Apr 14, 2014 12:52am
Quoting Schickeria
169.79/87 never hit atm... but i closed my short trade @ 170.00 physological level short entry was 173.000 and 173.098 +300 Pips x 2 = 600 Pips cashed {quote} {quote}
sometimes it happens
  • #12,970
  • Apr 14, 2014 1:06am Apr 14, 2014 1:06am
Quoting Schickeria
{quote} sometimes it happens
Are you going long?
  • #12,971
  • Apr 14, 2014 1:16am Apr 14, 2014 1:16am
Quoting Far-Mar
{quote} Are you going long?
NO i have some good shorts from the top.

Not needed to go long....
  • #12,972
  • Apr 14, 2014 1:21am Apr 14, 2014 1:21am
Quoting Schickeria
{quote} NO i have some good shorts from the top. Not needed to go long....
You HAD or you have more? I was wondering, coz you told that you closed shorts.. Thats why By the way, 600 pips is pretty much
  • #12,973
  • Apr 14, 2014 1:38am Apr 14, 2014 1:38am
Quoting Far-Mar
I'll buy on 169,50 with stop loss of 20 pips. {image}
a really bad idea - trendline broke, weak price action. UJ is weak too. + 170 psych level. the PA is undecided yet.
  • #12,974
  • Apr 14, 2014 1:41am Apr 14, 2014 1:41am
Hello people. GBP/JPY on today's menu. Placed a pending buy @ 169,363 with SL @ 168,960.

Wish you all a successful week!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #12,975
  • Apr 14, 2014 1:42am Apr 14, 2014 1:42am
Quoting ruffryders
{quote} a really bad idea - trendline broke, weak price action. UJ is weak too. + 170 psych level. the PA is undecided yet.
take a look at UJ weekly chart.. What do you think? it stands as if it will jump now)) or f$%king fall down
  • #12,976
  • Apr 14, 2014 1:43am Apr 14, 2014 1:43am
Quoting Mr.C
Hello people. GBP/JPY on today's menu. Placed a pending buy @ 169,363 with SL @ 168,960. Wish you all a successful week!
what about massive bear engulfer previously on H4 GJ? please be careful bro.
  • #12,977
  • Apr 14, 2014 1:44am Apr 14, 2014 1:44am
Quoting Mr.C
Hello people. GBP/JPY on today's menu. Placed a pending buy @ 169,363 with SL @ 168,960. Wish you all a successful week!
Hi and thanks.. Wish you all the same. Target is?
  • #12,978
  • Apr 14, 2014 1:46am Apr 14, 2014 1:46am
Quoting Mr.C
Hello people. GBP/JPY on today's menu. Placed a pending buy @ 169,363 with SL @ 168,960. Wish you all a successful week!
guys GJ H4 classic FX-Ray setup T/B/T @ 170 and downwards continuation. now why would you want to go LONG now?
  • #12,979
  • Apr 14, 2014 1:47am Apr 14, 2014 1:47am
Quoting Far-Mar
{quote} Hi and thanks.. Wish you all the same. Target is?
A bounce back to ~170,00 would be my TP1.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #12,980
  • Apr 14, 2014 1:52am Apr 14, 2014 1:52am
Quoting ruffryders
{quote} guys GJ H4 classic FX-Ray setup T/B/T @ 170 and downwards continuation. now why would you want to go LONG now?
It will move up, only if UJ will.. It seems like it will.. Risk is only 20 pips, i might buy at 169,40, as MR.C its first daily support.
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