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Geppy's Geppy Thread (GBP/JPY)

  • #13,781
  • Jun 5, 2014 10:41am Jun 5, 2014 10:41am
Just entered 172.26, going for 40 pips as 1st target, but kinda hoping its high of the week..
  • #13,782
  • Edited 7:44pm Jun 5, 2014 7:28pm | Edited 7:44pm
Another one of THOSE moments that always seem to happen on a Friday - particularly at NFP time. At this time, I reckon it's at a major point.

To the upside, a move back over 172.2/3 and then through 172.4 has the very real ability to become an extremely bullish event to at least 173 but probably breaking to 174 in the first instance.

To the downside, a failure here could have it in a downside correction only towards 170.6 ish (61.8 or so correction), but a break down out of there would suggest a further move down to complete the third leg of a bullish triangle into the 167/168 area.
  • #13,783
  • Jun 6, 2014 2:41am Jun 6, 2014 2:41am
Quoting Mpt
Another one of THOSE moments that always seem to happen on a Friday - particularly at NFP time. At this time, I reckon it's at a major point. To the upside, a move back over 172.2/3 and then through 172.4 has the very real ability to become an extremely bullish event to at least 173 but probably breaking to 174 in the first instance. To the downside, a failure here could have it in a downside correction only towards 170.6 ish (61.8 or so correction), but a break down out of there would suggest a further move down to complete the third leg of a bullish...
I think just now it is happening..
Focus only on what truly matters!
  • #13,784
  • Jun 6, 2014 2:42am Jun 6, 2014 2:42am
Quoting Ata-Turkoglu
{quote} I think just now it is happening..
Actually 172.16 might just be a nice entry for short imho at least i added a bit more on
  • #13,785
  • Jun 6, 2014 2:45am Jun 6, 2014 2:45am
Quoting BlueGas
{quote} Actually 172.16 might just be a nice entry for short imho at least i added a bit more on
In a situation like that I always open a short and leave it there.. if you have that doubt of an opportunity then lower your risk, leverage, volume... and jump in.. but attention: I said "only if you have the doubt of an opportunity"..

And: I think it can retest 171.93 level ( I see that level on ichimoku cloud on my 30 min. chart, also equal to fib 61.8 level)
Focus only on what truly matters!
  • #13,786
  • Jun 6, 2014 3:03am Jun 6, 2014 3:03am
Quoting Ata-Turkoglu
{quote} In a situation like that I always open a short and leave it there.. if you have that doubt of an opportunity then lower your risk, leverage, volume... and jump in.. but attention: I said "only if you have the doubt of an opportunity".. And: I think it can retest 171.93 level ( I see that level on ichimoku cloud on my 30 min. chart, also equal to fib 61.8 level)
171,80 will very likely go, watching bit larger timeframe,daily, goin back to 166,70 would be very nice, loads of orders triggers around 169,30 or bigger 167,70... But if bulls come back, they will be damn quick i guess, probably to new highs
  • #13,787
  • Edited 3:42am Jun 6, 2014 3:22am | Edited 3:42am
Seeing that (a) 171.8 and (b) the cloud is being referenced, note that in two hours time the 1 hr cloud sits at 171.8.
  • #13,788
  • Jun 6, 2014 3:50am Jun 6, 2014 3:50am
Quoting Mpt
Seeing that (a) 171.8 and (b) the cloud is being referenced, note that in two hours time the 1 hr cloud sits at 171.8.
Could you be more specific? Right now its pushing towards north at 172.10 and it will break or is broken as I write.. what are you trying to say? Will it go back to 171.8?

Happy Trades
Focus only on what truly matters!
  • #13,789
  • Jun 6, 2014 3:59am Jun 6, 2014 3:59am
Quoting Ata-Turkoglu
{quote} Could you be more specific? Right now its pushing towards north at 172.10 and it will break or is broken as I write.. what are you trying to say? Will it go back to 171.8? Happy Trades
I am simply saying that support will still be good at 171.8 in two hours time on the 1 hr cloud. Daily cloud support is at 171.5/6 today. Resistance is at 172.25 ish.

At NFP time, sometimes none of this matters.
  • #13,790
  • Jun 6, 2014 4:32am Jun 6, 2014 4:32am
Quoting Mpt
{quote} I am simply saying that support will still be good at 171.8 in two hours time on the 1 hr cloud. Daily cloud support is at 171.5/6 today. Resistance is at 172.25 ish. At NFP time, sometimes none of this matters.
Okay buddy, now its clear.. yes I agree.. checked the levels you mentioned.. well speaking for me personal: on the weekly chart there is a continuation bullish flag pattern building itself.. I am still hoping for a test at 173-ish levels.. but the flag is close to its narrow area.. if that breaks we will watch a nice long shoot to 174.. but this could happen next week or maybe even later.. so thumbs up for "long"..

Happy Trades
Focus only on what truly matters!
  • #13,791
  • Jun 6, 2014 4:46am Jun 6, 2014 4:46am
Quoting Ata-Turkoglu
{quote} Okay buddy, now its clear.. yes I agree.. checked the levels you mentioned.. well speaking for me personal: on the weekly chart there is a continuation bullish flag pattern building itself.. I am still hoping for a test at 173-ish levels.. but the flag is close to its narrow area.. if that breaks we will watch a nice long shoot to 174.. but this could happen next week or maybe even later.. so thumbs up for "long".. Happy Trades
Who knows. As I suggested in a post earlier today, it's always a 50/50 thing with NFP. It might be totally bullish, it might head down for a correction, it might head further down for the next part of a triangle.
  • #13,792
  • Jun 6, 2014 5:01am Jun 6, 2014 5:01am
Quoting Mpt
{quote} Who knows. As I suggested in a post earlier today, it's always a 50/50 thing with NFP. It might be totally bullish, it might head down for a correction, it might head further down for the next part of a triangle.
I agree nobody can know what happens next.. therefore I count on the simpliest rule: as long as I see higher highs higher lows on my chart my mind is bullish..

Happy Trades
Focus only on what truly matters!
  • #13,793
  • Jun 6, 2014 6:17am Jun 6, 2014 6:17am
Time buy gbpjpy?
  • #13,794
  • Jun 6, 2014 6:19am Jun 6, 2014 6:19am
Quoting Siuwax88
Time buy gbpjpy?
IMO very risky at the moment.. without seeing higher highs on 5m or 15m charts no way to go long..
Focus only on what truly matters!
  • #13,795
  • Jun 6, 2014 6:20am Jun 6, 2014 6:20am
Quoting Siuwax88
Time buy gbpjpy?
Im stayin away from buyin till 170.40 which probably wont happen till next week, but hey, thats just my view
  • #13,796
  • Jun 6, 2014 6:27am Jun 6, 2014 6:27am
But USDJPY H1 and H4 can see that it starts to wave 4 Eliot, so it has come an increase in wave 5 Eliot .. That is my view, therefore, GBPJPY should still be in the top. It's a matter of time.
  • #13,797
  • Jun 7, 2014 1:06pm Jun 7, 2014 1:06pm
Quoting Siuwax88
But USDJPY H1 and H4 can see that it starts to wave 4 Eliot, so it has come an increase in wave 5 Eliot .. That is my view, therefore, GBPJPY should still be in the top. It's a matter of time.
yep, and we should see one more drop.....in usd....which means us/jpy and eur/jpy.....the one to monitor.
Ian has a thread here at ff.....he's Harmonic Elliott Wave.
  • #13,798
  • Jun 8, 2014 1:21pm Jun 8, 2014 1:21pm
I noticed that the candlestick chart GBPJPY D1 be reversed and the time to drop in for par. And D1 GBPUSD chart shows that already is 4 wave Eliot, and is still to complete the 5 wave .. So a week time to the weakening of the pound? Waiting for your opinions ...
  • #13,799
  • Edited 2:26pm Jun 8, 2014 2:00pm | Edited 2:26pm
Well it's been a while since I made noise in here. Right or wrong, here's what I'm looking at. I think we're still in the NFP shake out so a bit of confusion on the lower TF's as the big guns suck up orders and stops both ways. These charts are different than most will remember as I'm trying a little experiment. Using my tried and true "in the moment" SR+PA overlaid on a nice BB system (Davit's) with harmonics to look out ahead a bit further. Sort of a combination of swing trading with day trading to the swing zones thrown in. So far, it seems to work rather nicely but it's all very new yet so I'll see. I'll be setting sell limits in these boxed areas upon market open tonight. Best wishes and green pips this week folks.

Daily charts below for this week's views.

GU - For this week I'm expecting a bit of a fall off early and I'll long to the completion of this pattern. Then short for the unfinished business around 6700. This "could" be a carry to the 6660ish. We'll see.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmdaily.PNG Size: 78 KB


UJ - Expect a little push back up into this zone and then short to completion around the 101 handle. Might have missed the "best" short entries but will see early on this week.

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpymdaily.png Size: 93 KB


GJ- - If the above work out as I see it, this should give my beloved Dragon enough spunk to reach this area for a nice drop.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpymdaily.png Size: 90 KB
Ghost Rider - WWTBMD?
  • #13,800
  • Jun 9, 2014 12:50am Jun 9, 2014 12:50am
I would love to see a mirror of the last week's bar. But if price continues to rise it can go to 173.6 without much problem.
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