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Geppy's Geppy Thread (GBP/JPY)

  • #14,541
  • Sep 17, 2014 12:19am Sep 17, 2014 12:19am
Trading plan for today is to be patient and wait for price to reach the 174.90/10 zone grabbing some buy orders and selling into that. Its tempting to just click sell but it comes with lot of pain if price decides to move against us 30+ pips. Might consider buying if this comes down to Asia's low @ 174.15/25 and gives a signal, a lot of opportunities today with most Gbp pairs moving in unison. GL
  • #14,542
  • Sep 17, 2014 1:41am Sep 17, 2014 1:41am
Quoting IveGotQuads
Trading plan for today is to be patient and wait for price to reach the 174.90/10 zone grabbing some buy orders and selling into that. Its tempting to just click sell but it comes with lot of pain if price decides to move against us 30+ pips. Might consider buying if this comes down to Asia's low @ 174.15/25 and gives a signal, a lot of opportunities today with most Gbp pairs moving in unison. GL
I'm waiting on the news mostly. It's currently trying to break 174.640 which it has tested several times over the past couple of hours. If news is bearish, I'll likely catch a short on the way down, then wait for the movement to bottom out before going long on it again (kind of like yesterday's news). I seem to have found the trend that started with the bull movement after yesterday's news on the 15m, so I'll stick with it if the news is either neutral or bullish.
  • #14,543
  • Sep 17, 2014 3:39am Sep 17, 2014 3:39am
Good news all around, and nothin' to show for it. Going to see if it drops to 174.690 territory, and possibly put in a long there in the next hour or so. Still not totally sold on this movement. Sometimes the market shows a delayed response in an overbought/oversold area.

Honestly, I can't wait for the scottish vote. Hopefully it will finally kick a bit of normalcy into this pairing.
  • #14,544
  • Sep 17, 2014 3:42am Sep 17, 2014 3:42am
Quoting 4xNewGuy
Good news all around, and nothin' to show for it. Going to see if it drops to 174.690 territory, and possibly put in a long there in the next hour or so. Still not totally sold on this movement. Sometimes the market shows a delayed response in an overbought/oversold area. Honestly, I can't wait for the scottish vote. Hopefully it will finally kick a bit of normalcy into this pairing.
News is only important when the market doesn't react in the direction of the news !!!
  • #14,545
  • Sep 17, 2014 3:47am Sep 17, 2014 3:47am
Quoting IveGotQuads
Trading plan for today is to be patient and wait for price to reach the 174.90/10 zone grabbing some buy orders and selling into that. Its tempting to just click sell but it comes with lot of pain if price decides to move against us 30+ pips. Might consider buying if this comes down to Asia's low @ 174.15/25 and gives a signal, a lot of opportunities today with most Gbp pairs moving in unison. GL
Trades in place and its 5 am...bout to go enjoy the day later guys and GL
  • #14,546
  • Sep 17, 2014 3:55am Sep 17, 2014 3:55am
Quoting mrhb30jr
hi all, Long set up tp 176.00 cheers {image}
hi all,

I Keeps my long GBPUSD TP 1.65xx and GBPJY - TP 176,xx, SL BE

cheers
Attached Image (click to enlarge)
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  • #14,547
  • Sep 17, 2014 4:42am Sep 17, 2014 4:42am
Quoting andoseg2
{quote} Regarding long term evolution, I expect upside activity . , It is possible that we are in a consolidation above Support, that building extraordinary huge energy for a upside breakout. {image}

My preview 12 days ago : http://www.forexfactory.com/showthre...69#post7719269
Money moves the market, not an indicator.
  • #14,548
  • Sep 17, 2014 6:33am Sep 17, 2014 6:33am
Quoting andoseg2
{quote} My preview 12 days ago : http://www.forexfactory.com/showthre...69#post7719269
That probably will happen, but like you said, it will take a while. The biggest catalyst for a bull jump will be the central bank's interest rate. Looking back at the history of the interest rates, and comparing daily/weekly/monthly charts to it, it's a near match. It would take a significant rate hike to work back up to 2006-2007 levels. But an increase of say 0.50% would likely be enough to push it towards 185-190 imo. It will still be a while, likely next year when Carney finally pulls the trigger on that. Until then, just sit back, relax, and enjoy the ride up and down in the range.
  • #14,549
  • Sep 17, 2014 7:26am Sep 17, 2014 7:26am
I have been 3 pips of getting stopped out for the last 30 mins... NY session at a high percentage goes the opposite of London. I hope this proves me right
  • #14,550
  • Sep 17, 2014 8:00am Sep 17, 2014 8:00am
If 175.2 continues to hold, expect a standard retracement in the order of 50~76 %. (But maybe much deeper)

If it breaks over 175.4, I would anticipate 176.8/9 or 177.4 next
  • #14,551
  • Sep 17, 2014 8:00am Sep 17, 2014 8:00am
Quoting IveGotQuads
I have been 3 pips of getting stopped out for the last 30 mins... NY session at a high percentage goes the opposite of London. I hope this proves me right
Hard to tell right now. Plenty of charts are teetering on overbought, but a very slow bull move could push could negate that. I opened a sell at 175.180, so I'm in a slightly better position. Logic would state that what goes up, must come down. But things haven't been very logical lately.
  • #14,552
  • Sep 17, 2014 8:07am Sep 17, 2014 8:07am
Quoting 4xNewGuy
{quote} Hard to tell right now. Plenty of charts are teetering on overbought, but a very slow bull move could push could negate that. I opened a sell at 175.180, so I'm in a slightly better position. Logic would state that what goes up, must come down. But things haven't been very logical lately.
Overbought? 4hr is only a little. Daily, weekly and monthly aren't. Besides, this pair can (and does) run 500 -1000 pips with ob on all time frames.

The thing that's confusing me is the minimal amount of lower tf divergence, which should be showing right here if this move was completing. It is there, but not as much as I would have expected. And that can be undone with one big jump.
  • #14,553
  • Sep 17, 2014 8:34am Sep 17, 2014 8:34am
Quoting 4xNewGuy
{quote} Hard to tell right now. Plenty of charts are teetering on overbought, but a very slow bull move could push could negate that. I opened a sell at 175.180, so I'm in a slightly better position. Logic would state that what goes up, must come down. But things haven't been very logical lately.
Nice !!! I got in @ 175.01 ...Nice trade men regardless of outcome . I'm stopped out already unfortunately, had like 23pip SL . I am definitely not trading tomorrow although I am exposed to Gbp/Nzd in my other account. I trade the daily Time frames of all pairs in 1 account and just Gbp/Jpy 15 min/1 hrly exclusively in another.
  • #14,554
  • Sep 17, 2014 8:34am Sep 17, 2014 8:34am
Quoting Mpt
{quote} Overbought? 4hr is only a little. Daily, weekly and monthly aren't. Besides, this pair can (and does) run 500 -1000 pips with ob on all time frames. The thing that's confusing me is the minimal amount of lower tf divergence, which should be showing right here if this move was completing
A lot of the moves that have happened on this pair since last week have been indicated by the 15m and 1h charts. The movements have been very consistent when the pair has hit overbought on the rsi on those timeframes. I'm talking more in the neighborhood of a 40 pip or so drop. Even the monthly is basically right on that line now. This pair has been in a bull trend for over a day now. It started out at a really good pace, but now its moving just slowly enough that no shorts are happening. I'm not expecting some epic drop or anything (although I wouldn't complain), but it is due for a slight bump in the road, unless banks really just want to sit this one out.
  • #14,555
  • Sep 17, 2014 10:50am Sep 17, 2014 10:50am
Quoting mrhb30jr
{quote} hi all, I Keeps my long GBPUSD TP 1.65xx and GBPJY - TP 176,xx, SL BE cheers {image}
That was a nice game plan keeping your longs till today... nice foresight. I do think your plan worked based on fundamentals much more than technical as from experience...even with good news at that extreme point this morning, sellers would always rush there including the big ones. There was a trader who kept trades like that - FX-Ray. He always used to make at least 500 pips or in that range... even leveraging more positions by pyramiding the gbp/Jpy and made it look easy. Wish he would come back to the thread. Nice trade again buddy
  • #14,556
  • Sep 17, 2014 10:52am Sep 17, 2014 10:52am
Quoting IveGotQuads
{quote} Nice !!! I got in @ 175.01 ...Nice trade men regardless of outcome . I'm stopped out already unfortunately, had like 23pip SL . I am definitely not trading tomorrow although I am exposed to Gbp/Nzd in my other account. I trade the daily Time frames of all pairs in 1 account and just Gbp/Jpy 15 min/1 hrly exclusively in another.
Yeah, got out of that short quick. Had a feeling it wasn't going to go that way. Sure enough, here we are. About 50 pips higher now. Looks like I'm just going to hold my long until the end of time at this rate.
  • #14,557
  • Sep 17, 2014 12:40pm Sep 17, 2014 12:40pm
Flat - waiting for a pullback if any

http://i.imgur.com/htKI2PQ.png
  • #14,558
  • Sep 17, 2014 1:47pm Sep 17, 2014 1:47pm
Quoting IveGotQuads
{quote} Nice !!! I got in @ 175.01 ...Nice trade men regardless of outcome . I'm stopped out already unfortunately, had like 23pip SL . I am definitely not trading tomorrow although I am exposed to Gbp/Nzd in my other account. I trade the daily Time frames of all pairs in 1 account and just Gbp/Jpy 15 min/1 hrly exclusively in another.
when the trade is a not brainer....i hit it with the nostoploss until in profit profitable pair if you are on the right side of the table
  • #14,559
  • Sep 17, 2014 1:50pm Sep 17, 2014 1:50pm
Quoting Compulsive
Flat - waiting for a pullback if any {image}
took profit at 175.45 on my long from last week..looking to get back in 175.47-50 if any pull back ...this is a pure break and she may wish to go heading to 185
  • #14,560
  • Sep 17, 2014 4:02pm Sep 17, 2014 4:02pm
GBPJPY at a 6 year high on the eve of the vote for Scottish independence. Speculation or is the outcome a given?
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