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Geppy's Geppy Thread (GBP/JPY)

  • #13,401
  • Apr 29, 2014 6:23am Apr 29, 2014 6:23am
Quoting PhAnTi'
{quote} also cable might load for a bullish leg to close gap.... might.. ;p
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Hero calls followed by margin calls...
  • #13,402
  • Apr 29, 2014 7:14am Apr 29, 2014 7:14am
just an observation usin 1 sma on high and low

ma formation and next monthly candle

[ i can be wrong ]

https://charts.mql5.com/4/570/gbpjpy...investment.png
  • #13,403
  • Apr 29, 2014 8:03am Apr 29, 2014 8:03am
closed both longs on usd news

https://charts.mql5.com/4/571/gbpjpy...investment.png
  • #13,404
  • Apr 29, 2014 8:03am Apr 29, 2014 8:03am
Good Morning Forex Factory Members and Guests

I stayed up too late last night in this thread and fell asleep at the trade station, but I'm awake now.

Whats happening with the dragon?

HDA OUT
  • #13,405
  • Apr 29, 2014 8:10am Apr 29, 2014 8:10am
Quoting PatienceFx
closed both longs on usd news https://charts.mql5.com/4/571/gbpjpy...investment.png
i prefer to see the picture in the thread and not open new links, if u dont mind
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #13,406
  • Apr 29, 2014 8:16am Apr 29, 2014 8:16am
Quoting HDA
Good Morning Forex Factory Members and Guests I stayed up too late last night in this thread and fell asleep at the trade station, but I'm awake now. Whats happening with the dragon? HDA OUT
nothing much, gj has lost steam at +89 pips from month open, uj has broken 102.7 barrier gu is married to 6804

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  • #13,407
  • Apr 29, 2014 8:38am Apr 29, 2014 8:38am
Quoting Islander
{quote} When I am trading a Yen Cross such as GbpJpy, I go a little further and also monitor the charts of GbpUsd, UsdJpy as well as GbpJpy. Thus I can see that UsdJpy is now entering its old supply area around 102.60 - 70 and GbpUsd is making new 4 year highs above 1.6840 which puts GbpJpy at 5 year highs in the 173 area...... Thus I would suggest that there is the a high PROBABILITY of a retest of GJ's recent high of 173.14 and of that level being broken either via a stop sweeping spike or continued strength in cable.....also, there is a BOJ press...
@Islander:

You are correct to look at the GBP/USD as well, the trend is also clear on the GBP/USD, Institutional accounts have their set targets, 1.7000 remains GBP/USD 1st Bull target.

Options barriers will try to hold off the charge with barriers currently at 1.6900 and 1.6950.

The market does not move in a straight line and we know that as the market moves it waves.

So with patience and a clear plan, being mindful of the obstacles in the way and what to look for. We can comfortably trade in the direction of the trend as a position trader.

Day trading is another matter all together. There is money to me made, buying and selling, its a lot of work and too much stress, so I just stick to position trading.

Plus it makes my marriage work

The Bulls are in control on the USD/JPY and the GBP/USD, therefore GBP/JPY is BULLISH but we have to be patient.

10am Eastern OPTIONS Expiry

USD/JPY

103.75 -pay out 750 million
103.00 -pay out 500 million
102.75/80 pay out 400 million - HOLDING
102.724 Daily High - Taken Out
102.65 -pay out 700 million - BREACHED
102.40/50 -pay out 500 million - HOLDING
102.20/25 -pay out 300 million - HOLDING

Things are shaping up nicely so far in terms of high bull probability

HDA OUT
  • #13,408
  • Apr 29, 2014 8:41am Apr 29, 2014 8:41am
Quoting PatienceFx
{quote} nothing much, gj has lost steam at +89 pips from month open, uj has broken 102.7 barrier gu is married to 6804 {image}
@PatienceFx:

Very good observation. We know our levels, and now we are just letting price action do the talking

HDA OUT
  • #13,409
  • Apr 29, 2014 9:48am Apr 29, 2014 9:48am
Quoting HDA
{quote} @Islander: You are correct to look at the GBP/USD as well, the trend is also clear on the GBP/USD, Institutional accounts have their set targets, 1.7000 remains GBP/USD 1st Bull target. Options barriers will try to hold off the charge with barriers currently at 1.6900 and 1.6950. The market does not move in a straight line and we know that as the market moves it waves. So with patience and a clear plan, being mindful of the obstacles in the way and what to look for. We can comfortably trade in the direction of the trend as a position trader....
Good morning HDA. It is nice to have you back here my friend. I offered some analysis and levels on GBPUSD, so now I may add some on UJ. I agree I would prefer to be long, but I believe those levels to be more obvious and I am cheap. So, would prefer longs from lower levels. Seems my levels on UJ are in compliance with those that you have referred to. Hope someone finds it helpful even if it appears to be redundant. I really wanted to answer last night but feared suffering the same fate and was busy with EN and AU.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #13,410
  • Apr 29, 2014 7:21pm Apr 29, 2014 7:21pm
GBP/JPY is forming a bearish triangle formation.
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Take what the market gives you.
  • #13,411
  • Apr 29, 2014 8:54pm Apr 29, 2014 8:54pm
GBP/JPY is BULLISH long term based on the Daily chart.

I entered short due to resistance. TP will be taken at the support of the triangle.
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Take what the market gives you.
  • #13,412
  • Apr 29, 2014 9:30pm Apr 29, 2014 9:30pm
Quoting Tiggrrr
GBP/JPY is BULLISH long term based on the Daily chart. I entered short due to resistance. TP will be taken at the support of the triangle. {image}
every strength has a period of weakness
  • #13,413
  • Apr 29, 2014 9:33pm Apr 29, 2014 9:33pm
yessirr, that's a good looking bullish pennant...I hope
  • #13,414
  • Apr 29, 2014 9:39pm Apr 29, 2014 9:39pm
I have buy Orders at !72.18 and 171.60.
  • #13,415
  • Apr 29, 2014 9:41pm Apr 29, 2014 9:41pm
Quoting aktrader
I have buy Orders at !72.18 and 171.60.
Went through 38.2 fibo level...I would wait to find a good scalp entry point for long...
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Take what the market gives you.
  • #13,416
  • Apr 29, 2014 9:43pm Apr 29, 2014 9:43pm
Yesterday I stated that I was sideways on this pair and not sure where to go. After analyzing and collecting myself I believe now that it is bullish and that we are in Wave II of Wave 3
  • #13,417
  • Apr 29, 2014 10:24pm Apr 29, 2014 10:24pm
Danm, bounced at 172.18. Too bad at last minute I moved my buy to 172. Sticking to plan would have been wise
  • #13,418
  • Apr 29, 2014 11:26pm Apr 29, 2014 11:26pm
Quoting HDA
{quote} OPTIONS BARRIER is breached especially more than one intraday you should immediately be preparing to abort your trade if the barrier is not in your favour. OPTIONS is an early warning FACTUAL tool and not an algorithmic indicator. If the OPTIONS BARRIER holds it is also a FACTUAL tool that says, hey, you can continue to hold your trade. HDA OUT
Quoting HDA
{quote}OPTIONS Expiry USD/JPY 102.724 Daily High - Taken Out 102.65 -pay out 700 million - BREACHED HDA OUT
if you read the above 2 posts and then saw the UJ reaction you would think twice before considering fresh GJ longs

always a good idea to

keep eyes open
  • #13,419
  • Apr 29, 2014 11:27pm Apr 29, 2014 11:27pm
Where can i check options data ?
  • #13,420
  • Apr 29, 2014 11:41pm Apr 29, 2014 11:41pm
Both GU and GJ are setting up to fall. GJ on the Daily chart is entering the apex of a perfect looking pennant. Shorter term, we need to come up a bit to perhaps around 17,262, before we go South again. though initially, 17,130 should offer good support.
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