Geppy's Geppy Thread (GBP/JPY)

when gj opens below day open 99% chance is it will slide down, the fake candle on gu h4 played out n gu dropped

slow but sure market

profit trailing of 3.5 pips or tp of 10 pips which will be 3x10=30 pips from a slow market, not expecting much coz of the strong h4 support below and the coming gbp news

the day open rule prevails and gj is all slides, the gbp spike gave an excellent short entry

My long got stopped out.I'm staying out for now.

Maybe i am only looking for A long position since 172.70 zone had test a fewtime. If she happen for a real break , will follow her till 172.30 zone

boyz daily is in strong downflip, longs r not going to work, unless the day open rule applies.

From reading posts here and on other forums, I must be one of the very few people who aren't convinced that GJ is heading for a huge drop.

While it may fall more, I still expect it to soon rise to significant new highs. Only a drop out of about 171.5/8 would change my view.

Neural Network has two components, one is the standard rsi 14 and the other is mysql based predictive feature which tells what to expect next.

with daily rsi below 50 and nn pointing down i see little hope for gj, the trend changing factors for gj here are either a break of 173.5 and a daily close above or a firm close below 173

GBPJPY seems unlikely to hold the trend-line support and move back above immediate strong resistance near 173.30-50 zone.

A decisive drop below this trend-line support, near 172.50 has the potential to drag the pair initially towards an intermediate support near 171.00. Further in near-term, the pair could be vulnerable to test 169.50 support area.

How you made a decision to draw that ridiculuous trendline????

If you're going to quote directly from Action Forex, you really should at least reference them.

can't it be just a coincidence that my views match with that mentioned on some other website...???

If you would have observed, the pair has managed to hold this trend-line support until now.
Moreover, I was looking for levels below which the fall could accelerate.
If you have something better to show, I would be glad to see that and possibly change my views too...

cheers...

Action Forex wrote

The pair continues to find support at a short-term trend-line, near 172.50 level. Hence, a break below this immediate support could possibly confirm the upcoming weakness for the pair. A decisive drop below 172.50 has the potential to drag the pair initially towards an intermediate support near 171.00 and in the near-term the pair could be vulnerable to test 200-day SMA support, currently near 169.50 region, also coinciding with a horizontal line support. Alternatively, a bounce back from this support area is likely to face immediate strong resistance near 173.30-50 zone and a decisive strength above this strong resistance could immediately lift the pair towards another horizontal resistance near 174.40-50 zone.

HareshBM wrote

GBPJPY seems unlikely to hold the trend-line support and move back above immediate strong resistance near 173.30-50 zone. A decisive drop below this trend-line support, near 172.50 has the potential to drag the pair initially towards an intermediate support near 171.00. Further in near-term, the pair could be vulnerable to test 169.50 support area.

LoL plagiarism spotted ! And denial & defensive so called co-incidence

[quote=Mpt;7628113]{quote} Action Forex .../quote]


Hi All I generally lurk in this thread now and again and your post Mpt put a smile on my face. You got him real good

Olu

Winner's effect--That winning simply causes more winning until that proud animal wanders too far out of it's territory and due to overconfidence leaves itself unguarded to be killed soon after. It has blown more than a few of my accounts. My brain bathed in super testosterone from the previous trades only to experience acute depression following the next round that sucks all the profit and working capital right back out again. 6 weeks at 334% profit and looking to quadrupling the account.

Sold near 174 but now trying out GBP/CHF at 153.80 on another sell and will let this one run. The patterns once familiar soon lay a corkscrew or suddenly fundamentals change, global event risk, sentiment, it's always something where fundamentals, technicals and sentiment hit an extreme imbalance that throws me for a loop. Will tread carefully now on the simple premise the more trades you win the probability that the winning streak continues diminishes greatly.

GBP/JPY is range-bound on an extremely short term basis between 173.45 and 172.70-ish, with the floor providing more tidy resistance than the ceiling. It is bearish (below the 200 SMA) on the 1H through 4H, but transitions to bullish on 6H + time frames.

Using traditional Fib retracements on on an 8H chart, along with a 200 SMA and the Alligator indicator:

Attached Image (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1406242311


Directly below the current range of price action is a confluence of levels at 172.44, which may provide a bit of solid, short-term resistance. Directly above is resistance at the .618 Fib level formed from the 5/29 low to the 7/3 high, but S/R around this level has not been clean. Above that is the .764 Fib formed from the 3/18 low to the 7/2 high, around which there are plenty of wick-throughs and false break-outs.

The 8H Alligator for this pair is clearly bearish, but as you go lower in time frame (and particularly below 4H), the "lips," "teeth," and "mouth" of this indicator have intertwined, indicating there may be indecision as to direction or, alternatively, that the movement of price is constricted to a narrower than usual range. It is also possible that a downward sloping trendline may be forming from the 7/3 high, but two swings high isn't much of a test of that proposition.

I'm going to take a short from the .764 Daily Fib Retracement Pivot Point should price hit that level, with the target being the .236 which is a modest 18 or so pips away as an extremely short-term proposition. Naturally a break through that confluence of levels at 172.44 may pave the way for deeper, bearish movement, but I'll cross that bridge when I come to it.

Not to be picky, even if there was a trendline to be drawn from the 6/11 or 12 swing low (not sure why it's in the middle of the candle on your chart) to the 6/30 swing low, that trendline has been broken. While it could provide resistance going forward, to me it looks like between 6/30 and now, a wedge is forming ... :



I may be wrong, but this signals to me that the pair is likely to undergo a short period of consolidation between the floor of this wedge at 171.5 and the downward trendline before ultimately breaking out below 171.50 or bouncing higher. I don't think this lack of committing solidly to a direction short-term is surprising given the equivocality of recent GBP economic data.

Wow! Everyone are great with analyzed. I was enjoy reading it. Right now i believe she drive us work more to see where she will go since she hold the zome for a few days.

In my view , she can flip euther side but iam still looking for a long position since the first pullback at 174.30-50 zone. My target still the same at 174.30-50 zone.

I am not that good to analyze but from what i knew (still a newbies) , I am seeing she may has more chance to go up again.

thx