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Geppy's Geppy Thread (GBP/JPY)

  • #14,721
  • Oct 2, 2014 4:32am Oct 2, 2014 4:32am
Quoting Mpt
{quote} UJ holds, but cable look s ready to break. If it drops, next pause is at 175.0
gu hit the 15 m trendline, and bounced up
  • #14,722
  • Oct 2, 2014 4:35am Oct 2, 2014 4:35am
Quoting IndigoPingvi
{quote} gu hit the 15 m trendline, and bounced up
Just. But 175.3 is getting more attention on the way down than it got on the way up.
  • #14,723
  • Oct 2, 2014 4:36am Oct 2, 2014 4:36am
Quoting IveGotQuads
{quote} Yep it sure is but except if you aggressive.. {image}
gj is getting intraday oversold to fuck. Retrace is a must. That's just my view.
  • #14,724
  • Oct 2, 2014 4:37am Oct 2, 2014 4:37am
But that was a sick move down wish I could have taken it but then it would have been a bad trade with my system albeit a good result. Breakout traders would have bagged that though. It is good that this pair is chewing through support and resistance all day but I know we all would like a little predictability. Gbp/Jpy seems to have caught up to the other pairs finally (nice 3 bar reversal, although the pin bar is my favorite)... the market isn't always perfect so will be placing an order albeit a small position size. Done for the day, already extended session by 30 mins. green pips to all and GL !!!
  • #14,725
  • Oct 2, 2014 4:45am Oct 2, 2014 4:45am
Quoting IveGotQuads
although the pin bar is my favorite
Maybe you will get a daily bullish pin, maybe
  • #14,726
  • Oct 2, 2014 5:41am Oct 2, 2014 5:41am
Quoting IndigoPingvi
{quote} Maybe you will get a daily bullish pin, maybe
now that will be something else ....anyway looks like my buy order has been triggered @ 175.43 and stop loss is @ 175.22 Quite a sharp down move but then again our buy at these levels did entail much more risk than we intended which we were aware off in the previous post since we hadn't touched main support. Might be taking a loss here, lets see how the market moves.
  • #14,727
  • Oct 2, 2014 5:51am Oct 2, 2014 5:51am
Quoting IveGotQuads
{quote} now that will be something else ....anyway looks like my buy order has been triggered @ 175.43 and stop loss is @ 175.22 Quite a sharp down move but then again our buy at these levels did entail much more risk than we intended which we were aware off in the previous post since we hadn't touched main support. Might be taking a loss here, lets see how the market moves.
I would say its a nice point to be long as long as we don't break below 175. Long from 175.30, no stop atm, will see how it goes.
  • #14,728
  • Edited 11:09am Oct 2, 2014 9:01am | Edited 11:09am
Now the third test of the 175.30/35 level, will see if that is the new floor or a further ride down is on hand.
Edit: Strong bear push across all JPY pairs. Closed out my shorts from the Scottish referendum week.
  • #14,729
  • Oct 2, 2014 11:10am Oct 2, 2014 11:10am
Quoting mrhb30jr
{quote} Hi All, GJ now going up 1st before continue going down ...patience cheers
hi all,

Downward 173.xx ..... patience....

cheers
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  • #14,730
  • Oct 3, 2014 1:27am Oct 3, 2014 1:27am
Looks like it hit a false break on the 4h 200ema during yesterday's drop. I'm thinking bull, targeting near yesterday's high of 176.63. Already made one move up, good chance it'll make a second break upwards before the week's done.

Going to wait for a bit of PA, then I'll open my position.
  • #14,731
  • Edited 2:53am Oct 3, 2014 2:35am | Edited 2:53am
A zoom in on my chart of yesterday. A sustained break under might not be terribly cool. If 175 breaks, it goes back to the bottom (of yesterday)

Attached Image (click to enlarge)
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  • #14,732
  • Edited 3:34am Oct 3, 2014 3:00am | Edited 3:34am
Quoting Mpt
A zoom in on my chart of yesterday. A sustained break under might not be terribly cool. If 175 breaks, it goes back to the bottom (of yesterday) {image}
We'll see what happens over the next hour or two once things pick up.

Opened a long at 175, going to move sl to b/e in a minute or two.

edit: And it drops back down to break even. Right back to the start of the daily support. Hope there's going to be some strong PA happening, otherwise I'm done for the week.

edit part deux: Okay, markets have finally woken up. Opened a long yet again after the huge wick on the 15m at 4:15est. Hopefully this time it bears fruit. I hate playing the break even game.
  • #14,733
  • Oct 3, 2014 3:36am Oct 3, 2014 3:36am
Quoting 4xNewGuy
{quote} We'll see what happens over the next hour or two once things pick up. Opened a long at 175, going to move sl to b/e in a minute or two. edit: And it drops back down to break even. Right back to the start of the daily support. Hope there's going to be some strong PA happening, otherwise I'm done for the week.
Yes, we'll see. Cable is right on its bottom support and if it gives way, I'm not sure if GJ's previous low would hold up.
  • #14,734
  • Oct 3, 2014 4:09am Oct 3, 2014 4:09am
Quoting Mpt
{quote} Yes, we'll see. Cable is right on its bottom support and if it gives way, I'm not sure if GJ's previous low would hold up.
Who knows? Looks like a lot of indecision right now on the 15m. Tons of wicks, with no solid movement either way yet. Not sure if banks are just stop hunting for a big move, or if the market is really just moving sideways because it just feels like it.
  • #14,735
  • Edited 8:16pm Oct 3, 2014 6:53am | Edited 8:16pm
Seems to have drifted away from its correlation with the E/J, and now is more in harmony with the G/U.

Doesn't look like much else will happen before I hit the sack. Think I'm just going to close my position now and take the 20ish pips and call it a week.

GL to everyone else still in.

edit: Go figure. I close my trade, and not even 2 hours later, an insane 1 minute 60+ pip spike comes up. Probably would've taken another 20 pips or so when that came about. Ah well, better to have some money in the pocket, than leaving it all on the table.
  • #14,736
  • Oct 6, 2014 2:22am Oct 6, 2014 2:22am
Looks like geppy's dropping again. Got in on the first candle after breaking friday's low. Let's see how far London takes it down.
  • #14,737
  • Oct 9, 2014 11:40pm Oct 9, 2014 11:40pm
Wanted to return to the thread and check it for posts once a day and contribute also. Some of the best technical stuff I've seen is here. The BOE took a pass on raising rates as expected and Japan is not going to ease further yet because of yen weakness being pretty sufficient for now. I use the DOW Jones as my correlation for GBP/JPY. The tone is very risk off right now so I see the next level to be 173.24. Peace out.
Be humble or be humbled.
  • #14,738
  • Oct 10, 2014 2:30am Oct 10, 2014 2:30am
Interesting Insight, I would prefer the market made its 3rd wave down today as you said but it is not perfect. I did have a buy order triggered @ 173.68 with a SL @ 173.47 and TP @ 174.50 or timed TP @ 12pm today.

i will admit this is not one of my cleanest trade, Would have preferred a much cleaner dip down (the highlighted candle)and the candle closed a little higher on the ends. It is one of the price action candles that I look for with 2 qualities. Price seems to be going against the trade so quick....
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  • #14,739
  • Oct 10, 2014 2:43am Oct 10, 2014 2:43am
We are hitting 20 EMA on Weekly, this could be a Weekly oportunity for Long. If it doesn't hold then next support is 172 area.
  • #14,740
  • Oct 10, 2014 2:49am Oct 10, 2014 2:49am
Quoting IndigoPingvi
We are hitting 20 EMA on Weekly, this could be a Weekly oportunity for Long. If it doesn't hold then next support is 172 area.
Oh yes if this decides to move up it will be a very sweet opportunity for the week, although I do believe a lot of finance ministers and spokesmen will be speaking all weekend long so holding a trade over the weekend my be a little riskier than anticipated. Right now there's selling pressure on the gbp/usd which might be slowing our pair down. If I get stopped out due to noise and another buying opportunity presents itself I will be getting in again.
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