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Geppy's Geppy Thread (GBP/JPY)

  • #13,101
  • Apr 20, 2014 9:08am Apr 20, 2014 9:08am
Quoting IndigoPingvi
{quote} Don't count to much on it, many countries still have holidays, price tends to have weird movements or stays in small range. Wednesday however should be fun.
Tuesday when NY opens liquidity should be back to normal.
  • #13,102
  • Apr 20, 2014 7:04pm Apr 20, 2014 7:04pm
Now I'm ready-ing for the summer stagnation. boring....
I'm so tired of a 15M chart.....
  • #13,103
  • Apr 21, 2014 4:13am Apr 21, 2014 4:13am
Quoting zaghloul
{quote} Tuesday when NY opens liquidity should be back to normal.
Easter Monday is not a federal holiday in the US, all banks are open.
  • #13,104
  • Apr 21, 2014 4:32am Apr 21, 2014 4:32am
When will it start going down. I hate being on the wrong side of a trade, and then leaving it open because I lost too much, and just hoping and praying it comes back in my favor. Sorry for the rant, but any one anyone have any analysis to share? I think NY open will bring it down (of course I am very biased).
  • #13,105
  • Apr 21, 2014 4:39am Apr 21, 2014 4:39am
Quoting zaghloul
When will it start going down. I hate being on the wrong side of a trade, and then leaving it open because I lost too much, and just hoping and praying it comes back in my favor. Sorry for the rant, but any one anyone have any analysis to share? I think NY open will bring it down (of course I am very biased).
as for me, i will short on 172,80. of course if it will reach there.. and add on 173,10 area.. 20 pips stop loss. no need to leave it open. if you lost, understand it. think about another trade. why you didnt hedge at least?
  • #13,106
  • Apr 21, 2014 4:40am Apr 21, 2014 4:40am
Quoting zaghloul
When will it start going down. I hate being on the wrong side of a trade, and then leaving it open because I lost too much, and just hoping and praying it comes back in my favor. Sorry for the rant, but any one anyone have any analysis to share? I think NY open will bring it down (of course I am very biased).
I don't think it is going down, we might see it test 173.00 very soon and this could coincide with a daily close above the trendline that is formed from the Jan and March highs, making a breakout. In my opinion the upside is prevailing. And most of all, you are trading against the major upward trend from Nov 2012.

Learn to cut losses and trade the trend when we get dips. You can still make hundreds of pips as GBPJPY heads towards 174 and 175.
  • #13,107
  • Apr 21, 2014 4:51am Apr 21, 2014 4:51am
In my opinion don't start selling before you see a daily candlestick pattern formation at the trendline indicating a sell. Such as pin bar or bearish engulfing pattern. Otherwise you are just selling into small dips for small profits instead of the major pips.
  • #13,108
  • Apr 21, 2014 4:55am Apr 21, 2014 4:55am
I'm stopping it at 172.53 , still holding hope it reverses before then. I didn't hedge because I can never work out how to do that properly, I just tend to magnify losses when hedging. I shorted because GBPUSD was reversing. It seemed like a great idea, but then USDJPY shot up. The gods of forex are playing with me
  • #13,109
  • Apr 21, 2014 8:06am Apr 21, 2014 8:06am
Quoting zaghloul
When will it start going down. I hate being on the wrong side of a trade, and then leaving it open because I lost too much, and just hoping and praying it comes back in my favor. Sorry for the rant, but any one anyone have any analysis to share? I think NY open will bring it down (of course I am very biased).
Lesson: use stop loss always and cut your losses short, don't get married to a position.

Good luck in the future.
Trade what you see, not what you think.
  • #13,110
  • Apr 21, 2014 12:19pm Apr 21, 2014 12:19pm
So the question remains for tomorrow/the next few days, assuming we see 172.7-172.8 area, will the pair bounce off the upper trend line and maintain the 168-173 yearly range we're in or bust through and rocket to 174-175????
I make it rain from the center of my Keytar
  • #13,111
  • Apr 21, 2014 1:41pm Apr 21, 2014 1:41pm
I believe this pair will breech the two previous highs but with the caveat that it does so relatively soon, with a bit of enthusiasm. If it comes up to resistance and hesitates, then good bye Irene... JMHO



tim
  • #13,112
  • Apr 21, 2014 11:14pm Apr 21, 2014 11:14pm
Quoting zaghloul
When will it start going down. I hate being on the wrong side of a trade, and then leaving it open because I lost too much, and just hoping and praying it comes back in my favor. Sorry for the rant, but any one anyone have any analysis to share? I think NY open will bring it down (of course I am very biased).
lucky you)) it goes down now
  • #13,113
  • Apr 21, 2014 11:16pm Apr 21, 2014 11:16pm
Any reason for it going down so massive? Looks rather bullish to me. No news too, very irrational like the whole market has been in 2014.
  • #13,114
  • Apr 21, 2014 11:29pm Apr 21, 2014 11:29pm
Probably unloading some baggage for the trip to 173+
  • #13,115
  • Apr 21, 2014 11:40pm Apr 21, 2014 11:40pm
Quoting aktrader
Probably unloading some baggage for the trip to 173+
will be great if it reach 173..
  • #13,116
  • Apr 21, 2014 11:57pm Apr 21, 2014 11:57pm
Well the last three trips to 173 were like this; Jan, 23rd @ 173.52, March 7 @ 173.57, and April 3rd @ 173.13 I'm hopefull we break thru ans set up new support on 172.75-173 and play on a new ball field. But if we all reject this third attempt thru then back to the ranging sandlot. I'm long 8 mini lots right now. It's my believe that the current moves are just posturing to shake of a few passengers to get out of the doldrums. It's come this far let's finish it for Pete's sake!



Tim
  • #13,117
  • Apr 22, 2014 12:07am Apr 22, 2014 12:07am
Quoting aktrader
Well the last three trips to 173 were like this; Jan, 23rd @ 173.52, March 7 @ 173.57, and April 3rd @ 173.13 I'm hopefull we break thru ans set up new support on 172.75-173 and play on a new ball field. But if we all reject this third attempt thru then back to the ranging sandlot. I'm long 8 mini lots right now. It's my believe that the current moves are just posturing to shake of a few passengers to get out of the doldrums. It's come this far let's finish it for Pete's sake! Tim
it has to win 172,30 first... 40 min gone, yet not done..
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  • #13,118
  • Apr 22, 2014 12:27am Apr 22, 2014 12:27am
Quoting karmostaji
{quote} Lesson: use stop loss always and cut your losses short, don't get married to a position. Good luck in the future.
Hello tomorrow
  • #13,119
  • Apr 22, 2014 1:35am Apr 22, 2014 1:35am
Quoting alukojoshfx
Preparing to go long at the open of new 4H candle which is in 10 minutes time... conditions based on break above 100 ema and percing line on 4h,for a target 200 pips and stop 100 pips. N.B Last week trade was a loss as market reverse after entering 100 pips into the target, stop loss hit.
Breaking 172.50 will be a huge relief and should go try 173.00...
GLk
  • #13,120
  • Apr 22, 2014 2:20am Apr 22, 2014 2:20am
Anyone have any idea why the market has had such low volume this year? Daily ranges on everything have been reduced, so many false breakouts and deep correctional moves, very few fluent moves/trends... Very frustrating market conditions. Any Ideas on when this may change?
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