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Geppy's Geppy Thread (GBP/JPY)

  • #14,321
  • Aug 27, 2014 12:09am Aug 27, 2014 12:09am
You never asked how I got the 600%. I have a spotty equities background but my forex mentor when I was a first year freshman lives in Finland. I live on the west coast of the U.S. His waking hours were London's. I would trade NY, nap and trade Tokyo and the early part of London too. To put up my kind of percentage gains you must imprint these foreign exchange quotes on your brain. The exchange rates make sense until global event risk, central bank monetary policy and risk sentiment causes them to no longer make sense.
Be humble or be humbled.
  • #14,322
  • Aug 27, 2014 2:45pm Aug 27, 2014 2:45pm
short at 172.187
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  • #14,323
  • Aug 27, 2014 8:29pm Aug 27, 2014 8:29pm
Lets see if GJ can cling onto the 172/172.1 area until the next month opens on Monday.

OK, if it falls significantly before the end of this week, it possibly heads down a fair way ... maybe a long way. But if it can hold, then jump/gap whatever over 172.6/8 then I reckon it would have cleared large medium and long term resistance and start the move up to take out 175 etc.

Either way, I suspect the next day or two might be somewhat important as to its direction.
  • #14,324
  • Aug 27, 2014 10:44pm Aug 27, 2014 10:44pm
Here's where we reverse a spike in either direction......specially at the famous LONDON OPEN....
  • #14,325
  • Aug 28, 2014 1:26am Aug 28, 2014 1:26am
long
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  • #14,326
  • Aug 28, 2014 5:04am Aug 28, 2014 5:04am
Happy pipping on Geppy:

https://charts.mql5.com/5/553/gbpjpy...fx-fx-cfds.png
Fix up, trade sharp ...
  • #14,327
  • Aug 28, 2014 1:24pm Aug 28, 2014 1:24pm
Either the market will get more jitters on those NATO photos of the Russians digging in or us sellers will be punished on the wheel of dragon justice. 172.18
Be humble or be humbled.
  • #14,328
  • Aug 28, 2014 8:18pm Aug 28, 2014 8:18pm
Quoting Mpt
Lets see if GJ can cling onto the 172/172.1 area until the next month opens on Monday. OK, if it falls significantly before the end of this week, it possibly heads down a fair way ... maybe a long way. But if it can hold, then jump/gap whatever over 172.6/8 then I reckon it would have cleared large medium and long term resistance and start the move up to take out 175 etc. Either way, I suspect the next day or two might be somewhat important as to its direction.
I'm going to leave my short on for 90 days. I've made that painful transition to longer term trades on spot forex. 167.61 is my target on the weekly chart near the 50 EMA level. Taken to the NADEX for scalping sessions.
Be humble or be humbled.
  • #14,329
  • Aug 28, 2014 9:07pm Aug 28, 2014 9:07pm
Quoting Temujin
{quote} I'm going to leave my short on for 90 days. I've made that painful transition to longer term trades on spot forex. 167.61 is my target on the weekly chart near the 50 EMA level. Taken to the NADEX for scalping sessions.
It would be great if you were right - to get some decent momentum back again. But I'll only sell it if it holds under 171.4. Otherwise, right here it only takes a rise back over about 172.08 to take it back to 171.1 and 172.2.
  • #14,330
  • Aug 28, 2014 9:42pm Aug 28, 2014 9:42pm
Quoting Mpt
{quote}... Otherwise, right here it only takes a rise back over about 172.08 to take it back to 171.1 and 172.2.
You probably wanted to say 172.1 (not 171.1)
  • #14,331
  • Aug 28, 2014 9:54pm Aug 28, 2014 9:54pm
Quoting IndigoPingvi
{quote} You probably wanted to say 172.1 (not 171.1)
Ah, yes. A typo.
  • #14,332
  • Aug 28, 2014 10:29pm Aug 28, 2014 10:29pm
Good eye there, Indigo
time to pull the trigger tonite....at Tokyo lunchtime or the lovely London Open....
  • #14,333
  • Aug 28, 2014 10:51pm Aug 28, 2014 10:51pm
Quoting Gbp/jpy
Good eye there, Indigo time to pull the trigger tonite....at Tokyo lunchtime or the lovely London Open....
It looks like it might not take so much time for some action. JPY weakness across the board?? What is UP?
  • #14,334
  • Aug 28, 2014 10:58pm Aug 28, 2014 10:58pm
If it can maintain 172.15, then it tries to break 172.2 and 172.24.

All its done so far is return to the formation apex, or centre. It's gone back to 50/50 - I don't know land.
  • #14,335
  • Aug 28, 2014 10:59pm Aug 28, 2014 10:59pm
After Tokyo......it should get really lively for European Bank movin' round.....
  • #14,336
  • Aug 29, 2014 4:07pm Aug 29, 2014 4:07pm
Quoting IndigoPingvi
{quote} ... Except (and this is more probable scenario) if this month finishes as a Bullish pin, then price might climb easily toward 177.3-4 area.

Well, speaking strictly technically, Monthly ended up as a Bullish Pin, so I am looking forward of continuation of the trend. 177.5 area in the next month is possible. 177.5 is a Pivot zone on my chart, so 2 things can happen, bounce back or heavy cross over this zone - in 3 months 186 might be possible. If we take a look at price behavior on 153 EMA Daily I would say heavy bulls will be in place for next 3 months. Of course, another war etc can turn things in a blink of the eye.
  • #14,337
  • Aug 30, 2014 1:53am Aug 30, 2014 1:53am
Quoting IndigoPingvi
{quote} Well, speaking strictly technically, Monthly ended up as a Bullish Pin, so I am looking forward of continuation of the trend. 177.5 area in the next month is possible. 177.5 is a Pivot zone on my chart, so 2 things can happen, bounce back or heavy cross over this zone - in 3 months 186 might be possible. If we take a look at price behavior on 153 EMA Daily I would say heavy bulls will be in place for next 3 months. Of course, another war etc can turn things in a blink of the eye.
Let's see if it breaks 172.9 or 173
  • #14,338
  • Aug 30, 2014 4:08am Aug 30, 2014 4:08am
Quoting Mpt
{quote} Let's see if it breaks 172.9 or 173
Correct. By Price action rules Pin is only valid and we enter the trade after Pin is broken by several pips. That would mean after 174.1 area (if we take it as one month or 5 months together-pin) but this then would be long term and that includes huge SL. Or if you are Long already from the recent low
  • #14,339
  • Edited 9:52pm Aug 31, 2014 9:32pm | Edited 9:52pm
Quoting Mpt
{quote} Let's see if it breaks 172.9 or 173
The 172.9/173 idea is based on the POSSIBILITY that GJ has completed already at 175.3 in the form of a bearish wedge. Now, should it go much higher from here, the assumption may turn out to be totally wrong. BUT, predicated solely on this argument, and assuming it has already fallen out of its wedge, this move to the 50% retracement level could merely be a retest of the earlier BREAKOUT LEVEL (drawn in red).



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Edit - I know there are many other alternatives, but just thought I would explain why I questioned 173 late last week
  • #14,340
  • Sep 1, 2014 7:04pm Sep 1, 2014 7:04pm
Interesting formation up there on that chart.....a b c d continuation may be huh!
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