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Geppy's Geppy Thread (GBP/JPY)

  • #14,141
  • Jul 11, 2014 2:30am Jul 11, 2014 2:30am
Very Interesting set up building up now , I usually don't trade on Fridays but this text book trade is hard to resist with a known major resistant/support zone (173.60) assuming the 15 min TF. We can assume a break out is in the works for the bulls, as usual everybody knows this and could be susceptible to manipulation whether you believe it or not ill wait for the 1-2-3 confirmation before buying. Good luck guys
  • #14,142
  • Jul 11, 2014 2:43am Jul 11, 2014 2:43am
Quoting cat
I've taken a long from 17,346. SL 36, TP 17,400. Can't see it going higher today.( loads of resistance there - trend line, H1 200ema, 76.4% fib)
Here your trade looks more like a range quick scalp trade for 26+ pips or so. You may get lucky and it breaks out but it entails a risk as your trade is quite aggressive for me. All in all trading is unpredictable and unfortunately this is Friday, everybody is going to be trying not to take a loss into the weekend.
  • #14,143
  • Jul 11, 2014 3:03am Jul 11, 2014 3:03am
Quoting IveGotQuads
{quote} Here your trade looks more like a range quick scalp trade for 26+ pips or so. You may get lucky and it breaks out but it entails a risk as your trade is quite aggressive for me. All in all trading is unpredictable and unfortunately this is Friday, everybody is going to be trying not to take a loss into the weekend.
Sorry for the delayed response, but it's pouring and had to run the nipper to school. I have no probs with trading on a Friday, I saw a clear long opportunity and took it. Very good chance that this will run up to or close to my TP. We shall see
  • #14,144
  • Jul 11, 2014 3:25am Jul 11, 2014 3:25am
Quoting cat
{quote} Sorry for the delayed response, but it's pouring and had to run the nipper to school. I have no probs with trading on a Friday, I saw a clear long opportunity and took it. Very good chance that this will run up to or close to my TP. We shall see
oh nothing wrong in being aggressive, I have placed an order @ 173.83 with a tight SL and TP 174.30 2.5 :1 RR. Im more on the conservative side and moreover in this instance a failed breakout usually happens and ill go short but occasionally breakouts do happen and its very rewarding and stress free. Right now we are getting the pull back ...
  • #14,145
  • Jul 11, 2014 3:44am Jul 11, 2014 3:44am
Quoting IveGotQuads
{quote} oh nothing wrong in being aggressive, I have placed an order @ 173.83 with a tight SL and TP 174.30 2.5 :1 RR. Im more on the conservative side and moreover in this instance a failed breakout usually happens and ill go short but occasionally breakouts do happen and its very rewarding and stress free. Right now we are getting the pull back ...
Hope your order wasn't filled! As for my trade, I'm staring BE in the face. I was aware that the 15m 200ema would offer resistance but wasn't anticipating such a strong reaction off it. I'm still Bullish on the day though and I might yet reach my TP. If I'm stopped out, I'll look to go again if an opportunity presents itself.
  • #14,146
  • Jul 11, 2014 3:50am Jul 11, 2014 3:50am
SMH, cancelled the buy order for 173.83, clearly a failed break out. Times like this make me feel glad I waited for confirmation, all the aggressive breakout buyers will definitely take a loss as their SL will be triggered. This is a prime example of the big traders using regular money flow orders to grab break out buyers and sell into them for liquidity. Anyway a buy signal that fails is a sell signal...good luck guys and have a happy weekend.
  • #14,147
  • Jul 11, 2014 3:54am Jul 11, 2014 3:54am
Quoting cat
{quote} Hope your order wasn't filled! As for my trade, I'm staring BE in the face. I was aware that the 15m 200ema would offer resistance but wasn't anticipating such a strong reaction off it. I'm still Bullish on the day though and I might yet reach my TP. If I'm stopped out, I'll look to go again if an opportunity presents itself.
oh no definitely it wasnt filled as I only place it after the pull back but I really wished it just did what it was supposed to do , but im aware that it could be manipulated. I know I know You dont believe in that but hey Ive seen it so many times and I know first hand from associates. Anyway Im done for the week and going to get ready for daily activities. Good luck once again
  • #14,148
  • Jul 11, 2014 4:00am Jul 11, 2014 4:00am
Quoting IveGotQuads
{quote} oh no definitely it wasnt filled as I only place it after the pull back but I really wished it just did what it was supposed to do , but im aware that it could be manipulated. I know I know You dont believe in that but hey Ive seen it so many times and I know first hand from associates. Anyway Im done for the week and going to get ready for daily activities. Good luck once again
Whether I believe it or not, I ignore it - couldn't trade otherwise. Have a good one!
  • #14,149
  • Jul 14, 2014 11:05am Jul 14, 2014 11:05am
Hello All,

This is probably the second time I have posted here, I have not posted for a while. This is my 15 min chart following Ichimoku. Last week's candle was bearish and this week has "almost" gone bearish

I am expecting a drop to 173 sometime today
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  • #14,150
  • Jul 14, 2014 1:39pm Jul 14, 2014 1:39pm
Adding one short at GBP-JPY till 50% fibbo.
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  • #14,151
  • Jul 14, 2014 4:48pm Jul 14, 2014 4:48pm
Decending Triangle on 15 Min.. I know there is some news pending but could be a good signal to the downside.

http://gyazo.com/e15d423d0b06dabd5615ec12eef7e321
  • #14,152
  • Jul 14, 2014 10:39pm Jul 14, 2014 10:39pm
I am only waiting for long position. She is maintain the range 173-174 for couple day now.
So i decide to wait till the buy signal is clearly.
Learning and Learing
  • #14,153
  • Jul 15, 2014 2:59am Jul 15, 2014 2:59am
Quoting pladee
I am only waiting for long position. She is maintain the range 173-174 for couple day now. So i decide to wait till the buy signal is clearly.
Hmm I am also looking at buying although with the news coming out and Carney speaking there's a chance for a whipsaw but Its worth it as we are in the beginning of a short intra week bull run. In @ 173.36 with a tight SL and open TP target, goodluck to everyone
  • #14,154
  • Jul 15, 2014 3:47am Jul 15, 2014 3:47am
TP reached @ 174.05 for 70+ pips Unfortunately we have reached the ADR of this pair. would have held on to the trade as it reached Target so quick but Carney is going to speak and who knows what comes out of his mouth. Just going to call it a day, hope you guys caught it as well, good day !!!
  • #14,155
  • Jul 15, 2014 12:13pm Jul 15, 2014 12:13pm
Just go long...........
Any dips are good entry opportunity.
Face both Win and Lose bravely
  • #14,156
  • Jul 15, 2014 12:15pm Jul 15, 2014 12:15pm
Its buy on dips on this one.... Looking for a new high over the next week.
  • #14,157
  • Jul 15, 2014 12:47pm Jul 15, 2014 12:47pm
Quoting wolve
Its buy on dips on this one.... Looking for a new high over the next week.
Agreed, maybe even see it this week.
check out my blog: forexmademillionaire dot com
  • #14,158
  • Jul 15, 2014 12:51pm Jul 15, 2014 12:51pm
Quoting Geppy
{quote} Agreed, maybe even see it this week.
Geppy, I have my eyes on 174.82 (2nd January resistance) and 175.33 (3rd July top).... 176.30 would be the new Higher High (Bullish channel top)
  • #14,159
  • Jul 15, 2014 12:58pm Jul 15, 2014 12:58pm
I think as long as GJ keeps breaking new highs, keep buying on dips intraday. But also check out where we are on the weekly.

GU is in similar shape, just hitting its weekly supply. So, also keeping an eye out for reaction/trend change.
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  • #14,160
  • Jul 15, 2014 2:01pm Jul 15, 2014 2:01pm
The beast respecting the H4 channel.... Looking for a new high. Employment number could be the catalyst.
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