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Geppy's Geppy Thread (GBP/JPY)

  • #13,601
  • May 7, 2014 2:40am May 7, 2014 2:40am
Entered long from current levels with initial 1st target 173.15 and 174.00 in extension.
Cheers!!
  • #13,602
  • May 7, 2014 5:00am May 7, 2014 5:00am
Market seems lack volatility............ or is it just me ?

My shorts seem to get no where with gbp jpy and gbp aud.
  • #13,603
  • May 7, 2014 5:04am May 7, 2014 5:04am
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  • #13,604
  • May 7, 2014 5:17am May 7, 2014 5:17am
the previous area of support 171.6 is the tp

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  • #13,605
  • May 7, 2014 5:22am May 7, 2014 5:22am
with a uj weekly chart like this, next week can be interesting

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  • #13,606
  • May 7, 2014 5:27am May 7, 2014 5:27am
It remains hard not to overlook (a) the multi year channel top that we hit during last NFP and (b) the massive loss of momentum/divergence for the last 600 or so hours.

It is still possible that it remains bullish in its own right, or has to fall down to complete the wedge or maybe triangle - at lower levels. Or there still remains the small possibility that we are looking at the end of the uptrend from 117.
  • #13,607
  • May 7, 2014 6:50am May 7, 2014 6:50am
Quoting PipsMaster23
Entered long from current levels with initial 1st target 173.15 and 174.00 in extension.

My entry was 172.25 - Nice move of price in my favor... stops now in place at BE+2 , will move them with every increment of +25 pips till i reach my TP target 173.15

Happy Trading
Cheers!!
  • #13,608
  • May 7, 2014 7:23am May 7, 2014 7:23am
Maybe today is the day. Sheesh.
There's always money in the banana stand.
  • #13,609
  • May 7, 2014 7:36am May 7, 2014 7:36am
Watch it fade
  • #13,610
  • May 7, 2014 7:56am May 7, 2014 7:56am
Quoting Mpt
Watch it fade
Above 172.64 it will most likely retest the 172.95 levels... with Yellen today and ECB tomorrow it could get the push it needs to break these levels... Also, in accordance to my analysis the trend is up.
Cheers!!
  • #13,611
  • May 7, 2014 8:00am May 7, 2014 8:00am
Agreed. Looks to me like the trend is up long term, medium term and short term. The last hour or two completely wiped out the downward drift from last night. Looks like quite a bit more bull power.
There's always money in the banana stand.
  • #13,612
  • May 7, 2014 8:25am May 7, 2014 8:25am
Under 172.6 just implies the final correction in a downwards reversal. A new and sustained high suggests bullish.
  • #13,613
  • May 7, 2014 8:55am May 7, 2014 8:55am
Quoting Mpt
Under 172.6 just implies the final correction in a downwards reversal. A new and sustained high suggests bullish.
I don't agree, only a valid break of 172.00 can negate bullish outlook, as this would open doors to 171.10 / 170.00 / 167.00
Cheers!!
  • #13,614
  • May 7, 2014 9:15am May 7, 2014 9:15am
Quoting PipsMaster23
{quote} I don't agree, only a valid break of 172.00 can negate bullish outlook, as this would open doors to 171.10 / 170.00 / 167.00
Correct.
  • #13,615
  • May 7, 2014 9:17am May 7, 2014 9:17am
Quoting LizardGizzard
Maybe today is the day. Sheesh.
Flushing gout the weak?
  • #13,616
  • May 7, 2014 9:37am May 7, 2014 9:37am
Quoting Compulsive
{quote} Flushing gout the weak?
Definitely SOME kind of flushing going on. Wish it would just pick a direction and get it over with.
There's always money in the banana stand.
  • #13,617
  • May 7, 2014 9:38am May 7, 2014 9:38am
And hopping this is the last damn flush.
There's always money in the banana stand.
  • #13,618
  • May 7, 2014 10:57am May 7, 2014 10:57am
If daily closes at 172.2 that would be a 2 day bearish pin and most probably bear continuation next day. ... However, bulls do look present. Price will burst in one direction one way or another.
  • #13,619
  • May 7, 2014 11:05am May 7, 2014 11:05am
Quoting IndigoPingvi
If daily closes at 172.2 that would be a 2 day bearish pin and most probably bear continuation next day. ... However, bulls do look present. Price will burst in one direction one way or another.
True, if it closes under 172.2, then I'm out and give up on the long for a while. Looks to me like it will likely end up over 172.50 though, based on the buoyancy exhibited on hourly and lower TFs.
There's always money in the banana stand.
  • #13,620
  • May 7, 2014 12:13pm May 7, 2014 12:13pm
UJ can still push lower, before support.
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