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Geppy's Geppy Thread (GBP/JPY)

  • #13,981
  • Jun 24, 2014 10:50am Jun 24, 2014 10:50am
Quoting Temujin
{quote} Thanks LouiseZA, I hope we score on this one. I can see the shampoo now, head and shoulders pattern on the hourly chart. Very bearish indeed. {image}
Only problem with that theory is that when it looks like a H&S, smells like a H&S , it usually aint behaving as expected . These "established" formations that are taught in those books and seminars are in my view the best contrarian indicators available these days.
  • #13,982
  • Jun 24, 2014 10:50am Jun 24, 2014 10:50am
The ear........hmmm interesting. He who has ears let him hear. Daily shooting star candle identified by Ilya Spivak of Daily FX. With the DOW Jones hitting that record high and China PMI coming in weaker I think the top is in. The BOE big buzz of earlier rate hikes is old news now and I think it's already priced in. 48 EMA support on the daily is 171.94 followed by 170.67 at the 100 EMA.

http://www.dailyfx.com/forex/technic...s_gbp-jpy.html
Be humble or be humbled.
  • #13,983
  • Jun 24, 2014 3:09pm Jun 24, 2014 3:09pm
Quoting SirMcPip
{quote} Only problem with that theory is that when it looks like a H&S, smells like a H&S , it usually aint behaving as expected . These "established" formations that are taught in those books and seminars are in my view the best contrarian indicators available these days.
50 pips so far and steadily growing.
Be humble or be humbled.
  • #13,984
  • Jun 24, 2014 10:08pm Jun 24, 2014 10:08pm
The CSPI came in at a good %, Abe and Karudo seem to be on the same page now. Indicator are only to give me confirmation, contrarian or not, there are traders that I know who only use it and make good trades.
  • #13,985
  • Jun 25, 2014 12:18am Jun 25, 2014 12:18am
Hello,

I have move my Target to 172.50 and next will be 172.00 ^_^

And this is only my opinion, If she reach around 171.xx , I will wait to see how she will goes, since at this level, it a level that we should be buy or sell, wait and see her move...

It just my opinion...nothing more...^_^
Learning and Learing
  • #13,986
  • Jun 25, 2014 1:13am Jun 25, 2014 1:13am
Pladee, nobody knows......your opinion is as valid as the next person!! I just moved my TP down to 172.55 and watching. On 4h she is in tick Ichimoku cloud, if she can get through there, it's down.
  • #13,987
  • Jun 25, 2014 1:28am Jun 25, 2014 1:28am
Correction.......The MM knows and they won't tell.
  • #13,988
  • Jun 25, 2014 2:50am Jun 25, 2014 2:50am
If I had 3 options of trading this pair...buy , sell or stay away for now . Ill lean towards buying , then staying away before selling.
  • #13,989
  • Jun 25, 2014 3:48am Jun 25, 2014 3:48am
Closed the 173.50 trade at 172.86, but not buy...... stay away for now!!
  • #13,990
  • Edited 5:33am Jun 25, 2014 5:23am | Edited 5:33am
Assuming 172.7 breaks, next question mark tomorrow is 172.35. Should it leave there, then 172.

Conversely, over about 173.3 is probably long.
  • #13,991
  • Jun 25, 2014 5:32am Jun 25, 2014 5:32am
Quoting LouiseZA
Closed the 173.50 trade at 172.86, but not buy...... stay away for now!!
well done!
Elliott Wave for optimum entry, exit and risk management of trades
  • #13,992
  • Jun 25, 2014 5:47am Jun 25, 2014 5:47am
Quoting Mpt
Assuming 172.7 breaks, next question mark tomorrow is 172.35. Should it leave there, then 172. Conversely, over about 173.3 is probably long.
Seems unlikely to cross 173.30. However, strength above 173.30 seems to trigger accelerated up-move towards 2014 highs, 174.50-80 zone.

Immediate downside potential seen till to 172.50 and 172.30. Decisive break below 172.30 could infuse additional near-term weakness towards 171.00 mark.
  • #13,993
  • Edited 6:34am Jun 25, 2014 5:50am | Edited 6:34am
Quoting HareshBM
{quote} Seems unlikely to cross 173.30. However, strength above 173.30 seems to trigger accelerated up-move towards 2014 highs, 174.50-80 zone. Immediate downside potential seen till to 172.50 and 172.30. Decisive break below 172.30 could infuse additional near-term weakness towards 171.00 mark.
Agreed. On all counts. Refer my comment on the UJ thread.
  • #13,994
  • Jun 25, 2014 7:07am Jun 25, 2014 7:07am
Quoting IveGotQuads
If I had 3 options of trading this pair...buy , sell or stay away for now . Ill lean towards buying , then staying away before selling.
Next decision point would be 173.20/30, with about 75% of retail traders selling... it just looks even more plausible for smart money to take advantage of all the stops above this range.
  • #13,995
  • Jun 25, 2014 7:50am Jun 25, 2014 7:50am
Quoting albchr
{quote} Hey Working, I'd love to see more of Geppy too. I'm sure settling into his new life is taking a fair amount of his time these days. Just his recent appearances gives us hope though.
Hey alb (and all)... I'm still around, it's just that price action has been so lacking lately there's little reason for me to be in front of charts. I wish it were the other way around. Hopefully we break out of this range soonish.
check out my blog: forexmademillionaire dot com
  • #13,996
  • Jun 25, 2014 11:49am Jun 25, 2014 11:49am
85 pips so far and holding for the 100 EMA on the D1 at 171.97.
Be humble or be humbled.
  • #13,997
  • Edited 12:50am Jun 26, 2014 12:36am | Edited 12:50am
Should 172.75 break

from orderflowtrading.com

" 09:01 06/26GBPJPY – Under 172.75 bids are a large layer of sell stops, centered at 172.70 "

edit this is not a statement that it WILL break, but simply a copy/paste from a website
  • #13,998
  • Jun 26, 2014 1:36am Jun 26, 2014 1:36am
Entered a small sell lot last night at 172.900 SL 173.05 and TP 172.250 Let's see what Mr Carney has to say. I am not a news trader, but could not resist this one. So little going on.
  • #13,999
  • Jun 26, 2014 1:56am Jun 26, 2014 1:56am
On other hand if this 172.75 does hold, a 61.8% retracement would take us back up to 173.58-60 where there is significant structure. Thats 70 pips from where we stand at this moment with a risk of say 20 pips. Who knows if it will go to the 61.8 but again there is significant structure there
  • #14,000
  • Jun 26, 2014 2:55am Jun 26, 2014 2:55am
Quoting aktrader
On other hand if this 172.75 does hold, a 61.8% retracement would take us back up to 173.58-60 where there is significant structure. Thats 70 pips from where we stand at this moment with a risk of say 20 pips. Who knows if it will go to the 61.8 but again there is significant structure there
At 173.6 it has broken or is on the verge of breaking up
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