Geppy's Geppy Thread (GBP/JPY)

Quoting Mpt

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Looking increasingly like a standard head/shoulders arrangement. Should it not break 172.9, then head height approx 160 pips from base at 171.3 - and reasonable target 169.7 ish - or 168.7 in extension.

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Quoting EllisParrish

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Looking at the end of the triangle being at approximately 7:30 am CST, I would hedge that the bundle of 3:30 am CST or the bundle of 7:30 CST announcements should push this tree over as many have alluded too. All three have now, on the 15 minute charts, started to develop a constricting of the Bollinger bands which means to me a fuse is developing. I thought the Japanese or US Monetary announcements would have done the trick, but both were duds for the pair. They all need some kind of catalyst... maybe small. I would also agree that there are now...

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Quoting karmostaji

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{quote} Post a chart please

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Quoting Mpt

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{quote} I'm sure you're big enough to draw it out for yourself, but if you wish I'll do it in a couple of hours. LS about 160 hr ago, head 172.9, now sitting at RS, base circa 171.5 ~ 171.3. Break of base with target at start of recent uptrend 169x. Anyway, just an idea - one where the numbers fit. Back in an hour or two and will draw it then. If 172.9 gets taken out, I won't bother

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Quoting EllisParrish

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{image} Two previous Pennants: One broke up and one broke down and the third one I alluded too earlier. The dotted line through the center is the 172.50 line which has been hanging around since Monday.

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Quoting PatienceFx

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{quote} i suggested the coin toss site for 2 reasons GJ = GU + UJ so for GJ to move strongly they need to be moving in the same direction or one of the pairs should be flat right now as hda pointed he is expecting 7000 and i am expecting 6969 on GU but UJ daily candle is dropping, BUT as you can see on UJ daily and from options data it MAY NOT drop much which leaves only 2 doors open for GJ flat or up BUT using the sacred coin toss technique if somehow UJ was to drop a bit lower then GJ will also have a temporary loose pants status --- TEMPORARY...

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Quoting EllisParrish

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The "ride" will be the confirmed breakout or break down based upon the combination of all U/J, G/J and then G/J moving in the same direction and breaking S/R lines. As they are not friendly right now, I wait. As you can see in the chart I posted, both triangles broke at the very end but I am not smart enough to definitely say which way they will go which is why I establish my breakout and break down plans before the "ride" and then try my best to execute the plans properly.

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Quoting PatienceFx

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{quote} continuing with this post gu in strong uptrend, though it might correct a bit on gbp news {image} uj in swing down / flat , might retrace back up from here {image} so gj is getting influenced by gu for now, when uj turns back up it will be stronger {image}

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Quoting PatienceFx

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{quote} important thing to note in the above charts and why i posted them together is that GJ has moved stronger when both GU & UJ are in same direction

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Quoting Mr.C

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Good morning people. Back to markets. One more time this week sold GBP/JPY. This time @ 172,520 with SL @ 172,850. Good luck today!

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Quoting EllisParrish

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Again we get no where fast...

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