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Geppy's Geppy Thread (GBP/JPY)

  • #14,441
  • Edited 6:15pm Sep 11, 2014 5:18pm | Edited 6:15pm
There was a lot of resistance once the london/ny cross happened. I closed what I had at 174 then, since I saw a huge amount of trades being loaded up at that point.

Seems the market has recovered since then, but I agree, it's meeting a lot of resistance. It's moved up a bit, from 174.08, to 174.14. Might see another breakout when the london session comes back into play. Until then, I'm thinking it'll just dance between 173.800 and 174.140. Maybe a break will happen sooner. I'm fairly confident there's still a bit more to be made going bull on this. It might be setting itself up like it did around 173.350.

In the meantime, I'm just going to set up a few small scalps on this movement, then keep an eye on it when tokyo comes into play. If it hits that point I'm seeing around 173.8, I'll go long back up to 174.14. Tokyo basically started this whole bull movement, now they can finish what they started!
  • #14,442
  • Sep 11, 2014 8:50pm Sep 11, 2014 8:50pm
a fun thing i noticed.. if we continue this path on the longterm.. im getting a price of 185-186..am i crazy??

as you can see on the picture.. both moves are identical..and if u take the ratio of short term to long term...we get 186..
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  • #14,443
  • Sep 11, 2014 11:51pm Sep 11, 2014 11:51pm
Here we are again

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  • #14,444
  • Sep 12, 2014 12:00am Sep 12, 2014 12:00am
Quoting Mpt
Here we are again {image}
Nice chart, well done trendlines.. you saw something i didnt..
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  • #14,445
  • Sep 12, 2014 12:01am Sep 12, 2014 12:01am
Quoting Wheathermakr
{quote} Nice chart, well done trendlines.. you saw something i didnt..
It's either to be defended, or broken
  • #14,446
  • Sep 12, 2014 12:04am Sep 12, 2014 12:04am
Quoting Mpt
{quote} It's either to be defended, or broken
08:00 high impact news.. JPY..we wait and see!
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  • #14,447
  • Sep 12, 2014 12:50am Sep 12, 2014 12:50am
This is really a tough buy for me at this time...I would prefer buying @ 173.15/30 zones. I also don't mind a stop run reversal at 174.50 IF this breaks through the support @ 173.96 and retests this successfully then Ill be inclined to short from there. Till then I am not risking my pips on a mediocre trade today. Friday is tough as it is already....gl guys
  • #14,448
  • Sep 12, 2014 12:57am Sep 12, 2014 12:57am
Here's what's basically been going on with the 15m for the past few days. It's still sticking with the support. So Kuroda's report will likely either make it or break it.
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  • #14,449
  • Sep 12, 2014 1:02am Sep 12, 2014 1:02am
I've seen this a thousand times.....Tokyo lunch reversal......
go long at 4 am New York time.....There's three layers to this trade, but for sure find a place to get long with small stops and just re-enter on the 30 minute marks....cool huh!!
  • #14,450
  • Sep 12, 2014 1:03am Sep 12, 2014 1:03am
Lets just hope the train doesn't move too fast...I need confirmation
  • #14,451
  • Sep 12, 2014 1:05am Sep 12, 2014 1:05am
Quoting Gbp/jpy
I've seen this a thousand times.....Tokyo lunch reversal...... go long at 4 am New York time.....
Hahaha Nice ... I have been trading that stop run reversals for maybe a year now. And I used to be aggressive but I have learnt to just cherry pick those. Its very lucrative strategy that should be in an intra-day traders arsenal
  • #14,452
  • Sep 12, 2014 1:10am Sep 12, 2014 1:10am
Stop run reversals eh? Do either of you have any links that get into detail about it? I'm going to check out a few youtube vids right now, but any kind of educational links anybody might now of would be greatly appreciated.
  • #14,453
  • Sep 12, 2014 1:11am Sep 12, 2014 1:11am
You guys realise Kuroda is just giving a speech to some students right.
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  • #14,454
  • Sep 12, 2014 1:13am Sep 12, 2014 1:13am
Quoting shellsnail
You guys realise Kuroda is just giving a speech to some students right.
maybe a student asks about inflation?
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  • #14,455
  • Sep 12, 2014 1:13am Sep 12, 2014 1:13am
Nice confluence with the 60 EMA here... I'm sure you all are salivating at the prospect of making a bountiful trade here. Patience is a weapon, I wonder how you guys trade plan is ?
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  • #14,456
  • Sep 12, 2014 1:19am Sep 12, 2014 1:19am
Im not a trend trader but I like to see what they are looking at... this is the 1 hr Gbp/jpy and daily Gbp/Aud. Very interesting trends going on
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  • #14,457
  • Sep 12, 2014 1:20am Sep 12, 2014 1:20am
Quoting IveGotQuads
Nice confluence with the 60 EMA here... I'm sure you all are salivating at the prospect of making a bountiful trade here. Patience is a weapon, I wonder how you guys trade plan is ? {image}
Personally... I'd wait for a bullish formation to appear, price to bounce and just when it seems buyers are getting enthusiastic about the bounce, short it.
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  • #14,458
  • Sep 12, 2014 1:49am Sep 12, 2014 1:49am
Quoting shellsnail
{quote} Personally... I'd wait for a bullish formation to appear, price to bounce and just when it seems buyers are getting enthusiastic about the bounce, short it.
I have placed a buy limit @ 174.07 with a SL @ 173.86 and an open TP ... this is a risk I am comfortable with. Gl in your trade
  • #14,459
  • Sep 12, 2014 1:58am Sep 12, 2014 1:58am
Quoting IveGotQuads
{quote} I have placed a buy limit @ 174.07 with a SL @ 173.86 and an open TP ... this is a risk I am comfortable with. Gl in your trade
I think we are both talking in hypotheticals here... haha, I didn't actually get to enter, since price didn't manage to break the high of the bullish formation..
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  • #14,460
  • Sep 12, 2014 2:07am Sep 12, 2014 2:07am
​​Any move back under 173.8 or so probably brings a retracement back to 173 / 172.7 .. Or a total reverse.
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