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Geppy's Geppy Thread (GBP/JPY)

  • #14,661
  • Sep 25, 2014 12:54am Sep 25, 2014 12:54am
Quoting Mpt
Even if it looks to have broken out and gets past 178.7, be careful at about 179.1 because that could possibly send it straight back down again. Of course that even assumes it can get over 178.5/6 in the next few hours.
Still no action on it yet. Maybe London will finally make a move on it? This pair has just been dry lately.

The N/J on the other hand, wow, what a plummet straight from left field. Somebody didn't like the NZD today.
  • #14,662
  • Edited 2:31am Sep 25, 2014 1:37am | Edited 2:31am
Quoting 4xNewGuy
{quote} Still no action on it yet. Maybe London will finally make a move on it? This pair has just been dry lately. The N/J on the other hand, wow, what a plummet straight from left field. Somebody didn't like the NZD today.
Quoting Mpt
It sits at the 23.6 retracement level for the entire move up. A classic indecision level. But over about 178.7 it probably returns to the top
------------------

I wrote that 3 days ago. Still waiting. It MUST get back over there and make, or a least get close, to the top again to prove that it's still in a bullish configuration.

Maybe today's the day - he says sarcastically.

Part of the 'problem' is that, if it were in a rising wedge thing for the last few months, it should have capped at 169.2/5, but it overshot that mark. But then, it rushed quickly to get back under - you may recall a question about it being bullish at 179.6, after which it fell furiously. So the question arises - was it a false break out and has now finished ... if not, it should reclaim the top before another correction.

Maybe the Kiwis are just a little ahead of their time and the British and Japanese are a bit slow.
  • #14,663
  • Sep 25, 2014 2:30am Sep 25, 2014 2:30am
Meh, it hit all NZD pairings, but didn't reflect at all on any yen ones. So it seems it's a pure NZD move.

I'm have a long opened up, and aiming for small gains. Like 20ish pips area. Seems the safer bet considering how this pair has been moving all week.
  • #14,664
  • Edited 9:36am Sep 25, 2014 9:01am | Edited 9:36am
Quoting 4xNewGuy
Meh, it hit all NZD pairings, but didn't reflect at all on any yen ones. So it seems it's a pure NZD move. I'm have a long opened up, and aiming for small gains. Like 20ish pips area. Seems the safer bet considering how this pair has been moving all week.
Maybe, but NZJPY and EURJPY, although at different parts of their cycle, are also stuck under resistance. In fact, the templates I use for S/R for GJ transfers automatically into EJ and they both show each pair struggling at almost the same distances below first and second up resistance, which suggests that GJ may not be lying.
  • #14,665
  • Sep 25, 2014 10:00am Sep 25, 2014 10:00am
hi all,

lfxjpy, gbplfx and gbpjpy
..... at same direction ..time to going down ...

cheers
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  • #14,666
  • Sep 25, 2014 4:32pm Sep 25, 2014 4:32pm
False brake North of yesterday's inside bar, then true brake South and stop at the trendline. It doesn't get any more simple then this. I think 20 EMA on Daily is still not high enough for a price to touch it (test of 175.36 area). However, if price would go for a Daily Bullish pin this would be an option. I am thinking 177.6 for short entry with tight SL...
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  • #14,667
  • Sep 26, 2014 2:42am Sep 26, 2014 2:42am
This might be it gentlemen. The wedge we've been waiting for. I'm honestly not sure if I'll get any sleep tonight, but if it breaks 177.000 before the end of the week. It might finally signal the long awaited drop.
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  • #14,668
  • Sep 26, 2014 3:20am Sep 26, 2014 3:20am
Nice up move we've all be waiting for....now looking for short entry in the next hr according to price action on this nice intra-day zone.
  • #14,669
  • Sep 26, 2014 3:24am Sep 26, 2014 3:24am
I view it the other way. The exhaustive move that returns it to or near the top.

If so, all time frames will look totally over stretched as it slowly climbs.

But it has to clear .9 first, then 178.0, then 178.1
  • #14,670
  • Sep 26, 2014 3:32am Sep 26, 2014 3:32am
Quoting Mpt
I view it the other way. The exhaustive move that returns it to or near the top. If so, all time frames will look totally over stretched as it slowly climbs. But it has to clear .9 first
I like your analysis...I was actually talking with a friend about that and we had different opinions. Right now I would have preferred price reaching 178.05 at least, then I would be more comfortable. Its all about patience and confirmation before taking trades, with me i'm looking for a reason NOT to trade rather than taking one today at all so lets see.
  • #14,671
  • Sep 26, 2014 3:42am Sep 26, 2014 3:42am
Quoting Mpt
I view it the other way. The exhaustive move that returns it to or near the top. If so, all time frames will look totally over stretched as it slowly climbs. But it has to clear .9 first, then 178.0, then 178.1
That's also a good possibility. Screw it. Just going to close my small trades, and just wait for the PA on this one. It broke the long-term support I saw on the 4h since the start of the whole bull rush, but I'll just wait for something to actually happen. Don't feel like burning some money if the indecision decides to continue to be indecisive.
  • #14,672
  • Sep 26, 2014 3:50am Sep 26, 2014 3:50am
Should it do all these things, I THINK it may fall back again when/if it gets to 178.7
  • #14,673
  • Sep 26, 2014 4:03am Sep 26, 2014 4:03am
Quoting Mpt
Should it do all these things, I THINK it may fall back again when/if it gets to 178.7
yeah 178.70 is a very important zone in this pair. During that drop 2 hrs ago It would have been a perfect buying opportunity at 177.0 of course after confirmation. Unfortunately it didn't, well my session is over no trades taken hope you guys have a wonderful weekend. This was a tough week, at least for me...
  • #14,674
  • Sep 26, 2014 4:13am Sep 26, 2014 4:13am
Quoting IveGotQuads
{quote} yeah 178.70 is a very important zone in this pair. During that drop 2 hrs ago It would have been a perfect buying opportunity at 177.0 of course after confirmation. Unfortunately it didn't, well my session is over no trades taken hope you guys have a wonderful weekend. This was a tough week, at least for me...
Tough week? It was an absolute shit of a week!
  • #14,675
  • Sep 26, 2014 4:15am Sep 26, 2014 4:15am
Quoting IveGotQuads
{quote} yeah 178.70 is a very important zone in this pair. During that drop 2 hrs ago It would have been a perfect buying opportunity at 177.0 of course after confirmation. Unfortunately it didn't, well my session is over no trades taken hope you guys have a wonderful weekend. This was a tough week, at least for me...
You and me both man. I was making some decent cash off the N/J, then it got hit with a massive 200 pip bear drop. Needless to say, my profits didn't cover my losses there. Lost a bit of ground with my account, but fortunately not too much. I'm sure when I die god is going to have a little talk with me about this week's obscenities.

Have a good weekend man.
  • #14,676
  • Sep 26, 2014 4:20am Sep 26, 2014 4:20am
I always say ... because it's true ... when this pair is in trend you make good money. But in consolidation, it's easy to lose it.
  • #14,677
  • Sep 26, 2014 4:22am Sep 26, 2014 4:22am
Quoting IveGotQuads
{quote} I like your analysis...I was actually talking with a friend about that and we had different opinions. Right now I would have preferred price reaching 178.05 at least, then I would be more comfortable. Its all about patience and confirmation before taking trades, with me i'm looking for a reason NOT to trade rather than taking one today at all so lets see.

Oh shit I left the desk came back and see price got to my zone....now hope the candle closes bearish and the next one retraces slightly for a nice entry.
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  • #14,678
  • Sep 26, 2014 4:24am Sep 26, 2014 4:24am
If it can't get up from 178.1, it may well fall a little (177.6) or possibly all the way down to 176.9
  • #14,679
  • Sep 26, 2014 4:29am Sep 26, 2014 4:29am
Quoting Mpt
If it can't get up from 178.1, it may well fall a little (177.6) or possibly all the way down to 176.9
yeah if I happen to get into this trade 177.05 will be my TP....
  • #14,680
  • Sep 26, 2014 4:35am Sep 26, 2014 4:35am
Sell limit 177.95 Sl 178.14 TP 177.05 regardless of PA moving SL to BE 7AM to 7.30 AM Est Train better come back and pick me up. Gl later
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