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Geppy's Geppy Thread (GBP/JPY)

  • #14,081
  • Jul 3, 2014 1:24am Jul 3, 2014 1:24am
still bullish [ rsi ] level break needed to continue ; caution given be ma' as the coconut tree is bending under pressure and might break


Attached Image
do not follow me 99.9999999% of times, rest you can lol
  • #14,082
  • Jul 3, 2014 1:33am Jul 3, 2014 1:33am
Quoting PatienceFx
still bullish [ rsi ] level break needed to continue ; caution given be ma' as the coconut tree is bending under pressure and might break {image}

Nice chart! Yes it seems very bullish, we had a strong rejection near 175 in Jan this year, this time things are different, lets see if it can break 175 and break it with conviction. It has responded well since yesterday with UJ showing some movement toward the upside.

Big day on the data-front, let see how it pans out!

Wish you all luck and trade safe.
  • #14,083
  • Jul 3, 2014 2:52am Jul 3, 2014 2:52am
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if 174.83 would be broken up,
this guy may turn crazy.
no other killers to me but emotion
  • #14,084
  • Jul 3, 2014 4:39am Jul 3, 2014 4:39am
Just my observations:

  1. Ranging for the last 16 hours between 174.90 and 174.65 (reflection: indecision?)
  2. on the the channel support line of 4 hour and 30 minute charts (reflection: up?)
  3. there was a double top with 6 hours between them (reflection: down?)
  4. on 5th wave of 4 hour? Although not clear (reflection: down?)

My reflection:

  1. seems some indecision
  2. wait to see if breakout above 174.90 or breakout below 174.65
  3. so right now just sit tight

  • #14,085
  • Edited 9:49am Jul 3, 2014 6:12am | Edited 9:49am
just because of news chicky issue , very clear short.
ps :
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Neural Network Algorithm and Econophysics
  • #14,086
  • Jul 3, 2014 7:32am Jul 3, 2014 7:32am
Quoting SirMcPip
Time: 03:19 GMT Market: GBP/JPY BOUGHT AT 168.00 STOPS: NONE TARGET:180.00
Time: 12:30 GMT
Market: GBP/JPY
SOLD 50% AT 175.00
STOPS: 168.00
TARGET: 200.00 +

If we should ever pick up some more buyers in the 166-168 region we should do it from this vicinity. A decisive crash thru 176.50 means that we have enough fuel to rake us north enroute to 200+over the next year on the back of an improving British economy.
  • #14,087
  • Jul 3, 2014 8:04am Jul 3, 2014 8:04am
Quoting albchr
{image}
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpymdaily.png Size: 54 KB
Ghost Rider - WWTBMD?
  • #14,088
  • Jul 3, 2014 8:21am Jul 3, 2014 8:21am
Closed that GBP/JPY sell at 102 pips and it was a good thing that I did so, whoa.....58 pips so far selling the EUR/USD. GBP/JPY to 178? Idk anymore.
Be humble or be humbled.
  • #14,089
  • Jul 3, 2014 8:57am Jul 3, 2014 8:57am
gpyjpy next resistance?
  • #14,090
  • Jul 3, 2014 9:04am Jul 3, 2014 9:04am
Quoting jitfx
gpyjpy next resistance?
Difficult to say, 750-780, where it comes up against the monthly 200sma. This would give us divergence on the weekly chart with the MACD, and this could stop it. But it's strong, and it's broken clear of the Jan 1st high, so really, the sky's the limit with it at the moment.
  • #14,091
  • Jul 3, 2014 9:07am Jul 3, 2014 9:07am
Quoting cat
{quote} Difficult to say, 750-780, where it comes up against the monthly 200sma. This would give us divergence on the weekly chart with the MACD, and this could stop it. But it's strong, and it's broken clear of the Jan 1st high, so really, the sky's the limit with it at the moment.
exactly ,if i knew i would make 25 pips i will short it $200 a pip but this animal is out of control
  • #14,092
  • Jul 3, 2014 9:08am Jul 3, 2014 9:08am
except for weekly and monthly this thing is over bought at every time frame
  • #14,093
  • Jul 3, 2014 9:13am Jul 3, 2014 9:13am
Quoting Kmb Finance
{quote} exactly ,if i knew i would make 25 pips i will short it $200 a pip but this animal is out of control
Yup, she's a wild Mustang, few can ride it, but those who can reap the rewards.
  • #14,094
  • Jul 3, 2014 1:06pm Jul 3, 2014 1:06pm
I think the next target would be around 175.8x .
The sky is so clear , think that nothing would stop her to go 200-210.

but who knows??

I love her !!!
Learning and Learing
  • #14,095
  • Jul 4, 2014 2:44am Jul 4, 2014 2:44am
I'll look to buy at around 17,477 if pa responds.
  • #14,096
  • Edited 6:08am Jul 4, 2014 5:17am | Edited 6:08am
long 174,94 SL 174,87 TP open for now - though if this works for me and it finishes the day strongly to the upside, I may leave it open over the weekend targeting 17,800. That would be nice, but we shall see.
stopped out -6
  • #14,097
  • Jul 4, 2014 10:52am Jul 4, 2014 10:52am
Quoting cat
long 174,94 SL 174,87 TP open for now - though if this works for me and it finishes the day strongly to the upside, I may leave it open over the weekend targeting 17,800. That would be nice, but we shall see. stopped out -6
I picked up some fresh longs on that dip too. It's a US holiday today though, so don't expect much action from here on out. The fact we've been able to hold this week's gains though is quite encouraging.
check out my blog: forexmademillionaire dot com
  • #14,098
  • Jul 4, 2014 3:16pm Jul 4, 2014 3:16pm
Looks like we are going to get a hanging man candle on the Daily...
  • #14,099
  • Jul 6, 2014 7:37pm Jul 6, 2014 7:37pm
Anyone shorting for a retest at 174,00 or i'm the only one?
  • #14,100
  • Jul 6, 2014 8:24pm Jul 6, 2014 8:24pm
Quoting BogiFX
Anyone shorting for a retest at 174,00 or i'm the only one?
For what it is worth, I am, from close to the high.

I have a question. Today I listened to a long talk by a financial insider, as he was characterized; it was dated from January 2013. He made many good points but the one he began with was, the 'collapse' which will come, eventually, for the financial reset... as those who are creating it - far above the rest of us with our concerns about our own bottom line call it - will be presaged with the collapse of the Japanese economy. He gave many reasons why that I knew already. He was convinced of this as being a sign that would set things off in a sort of traveling around the world with the progress of the sun. Here is my question. I figure that failure for Abe would be that his easing program DOES NOT work - which would mean, a strengthening of the yen, massively.

What effect would this have on the carry trade for pairs like GBP/JPY? I think... the effects would be mitigated, in the current interest rate environment anyway, by the high interest rate for the pound.

Any comments? I'm not addressing this to you in particular.
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