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Geppy's Geppy Thread (GBP/JPY)

  • #14,761
  • Oct 10, 2014 11:21am Oct 10, 2014 11:21am
Took a long @ 172.73, hoping price can stay above 173.10, been crazy the last 4 hours.
  • #14,762
  • Oct 10, 2014 5:47pm Oct 10, 2014 5:47pm
Quoting mrhb30jr
{quote} hi all, Downward 173.xx ..... patience.... cheers {image} {image} {image}
Target Hit 173.00 area
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  • #14,763
  • Oct 12, 2014 7:26am Oct 12, 2014 7:26am
when (YELLOW = MAGENTA) then open.BUY

target median line of BB.H4
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  • #14,764
  • Oct 13, 2014 2:32pm Oct 13, 2014 2:32pm
BOE data tonight and big time earnings announced in NY before and after the bell tomorrow. JPM, J&J, Ebay, Citi, Intel. If the BOE data is good and earnings are above expectations we can see a strong relief rally this week. Buyers I feel your pain. DOW at a 6 month low. Get ready to buy at some point this week and make a killing.
Be humble or be humbled.
  • #14,765
  • Oct 13, 2014 5:50pm Oct 13, 2014 5:50pm
It depends now on whether it can clear over 172.1/2 and in any case 172.3/4. If so, it's in retrace up to at least 173x.

Otherwise, upon clearing 171.6 it drops again.
  • #14,766
  • Oct 13, 2014 9:32pm Oct 13, 2014 9:32pm
Quoting Mpt
It depends now on whether it can clear over 172.1/2 and in any case 172.3/4. If so, it's in retrace up to at least 173x. Otherwise, upon clearing 171.6 it drops again.
I'm hoping that doesn't happen. If we get a buy signal there , this could net us 300 pips. With this in mind I did sell @ 172.32 with a tight SL @ 172.52 I will be watching out for 171.60/70 for price action and make a decision there whether to TP or let it run if you are right.
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  • #14,767
  • Oct 13, 2014 9:41pm Oct 13, 2014 9:41pm
In addition to the reasons , If we look at the trend on the 30 mins and 4hrly charts it is clearly bearish with a pull back continuation on the 30 mins. Of course with any trade there are risks, what we are looking for are high probability trades. In preparation for a failed trade here I will dump my position and go long as this is clearly a buy signal. With all the stars aligned as bearish and this manages to fail there's no other signal or indicator needed to long this.
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  • #14,768
  • Oct 14, 2014 1:45am Oct 14, 2014 1:45am
Final TP @ 171.05 and I must thank MPT for alerting me of a potential downward spiral. I really wanted Gbp/Jpy to get into its predictive cycle so bad , but ill take a 120 + pip for a 6:1 risk to reward gain. Its 5 am and my session is over. Hope you guys made some greens as well ... cheers !!
  • #14,769
  • Edited 2:05am Oct 14, 2014 1:48am | Edited 2:05am
Quoting IveGotQuads
Final TP @ 171.05 and I must thank MPT for alerting me of a potential downward spiral. I really wanted Gbp/Jpy to get into its predictive cycle so bad , but ill take a 120 + pip for a 6:1 risk to reward gain. Its 5 am and my session is over. Hope you guys made some greens as well ... cheers !!
No worries. Pleasure.

Under 170.5, it finds SOME resistance at the double bottom. After that, should it happen, we move to the top of the weekly ichimoku cloud at 168.2.
  • #14,770
  • Oct 14, 2014 2:16am Oct 14, 2014 2:16am
And that news hit it like a brick to the face. Looked like it was going to start going bull since it found itself back in the range it was in pre-scottish-vote, but the news had other plans. Good thing I played it right and made some quick money. Once this big bear push is done, it's likely going to be flat for the day. Maybe see some life breathed back into it in 24 hrs or so. A lot of signs are showing bull now in the near future, since it's been dropping like a rock lately.

Time to call it a night for trading. Good to see some life up in this thread again. Have a good one everybody!
  • #14,771
  • Edited 6:54pm Oct 14, 2014 6:40pm | Edited 6:54pm
GBPJPY, Long @ 170.20 near weekly's EMA50 retracement with half of normal order risk seems worth for me to trade the expected ongoing uptrend just now.
(Monthly could go further down - e.g. 168.50)
FXcube

GBPJPY, Weekly, 2014 October 15
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  • #14,772
  • Oct 14, 2014 9:02pm Oct 14, 2014 9:02pm
Quoting Forexcube
GBPJPY, Long @ 170.20 near weekly's EMA50 retracement with half of normal order risk seems worth for me to trade the expected ongoing uptrend just now. (Monthly could go further down - e.g. 168.50) FXcube GBPJPY, Weekly, 2014 October 15 {image}
I agree with you. I am long at 170.50, based on the 50 EMA on the 15 min Chart. What's your Target Price?
  • #14,773
  • Oct 14, 2014 10:23pm Oct 14, 2014 10:23pm
I have been open to a long for the past 2 trading days, right now I do admit I have no main bias for today. Going long seems like the obvious play now with Long term support @ 170.00 but the market doesn't care about what we want it to do. To go long it is either I wait for the break out or wait for price to get pushed down to support and grabbing those sell orders before taking off to the upside. Either way it is either sitting on my hands for now or scalping by selling a tiny position to 170.xx support level. Gl guys and kudos to other posters for contributing !!!
  • #14,774
  • Oct 14, 2014 10:38pm Oct 14, 2014 10:38pm
Quoting Tony1
{quote} I agree with you. I am long at 170.50, based on the 50 EMA on the 15 min Chart. What's your Target Price?
Look like still on hard down
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  • #14,775
  • Oct 14, 2014 11:21pm Oct 14, 2014 11:21pm
Hey guys, what do you guys think about putting about 3.6% on this trade .... Gbp/Jpy Eur/Jpy And Usd/Jpy all singing the same song ?
  • #14,776
  • Oct 14, 2014 11:50pm Oct 14, 2014 11:50pm
Not all break outs are the same , and this one is a little special with a high probability as the range is on the "Edge" of the last 2 trading sessions. Buy order triggered @ 170.90 SL 170.69 TP open for now GL people
  • #14,777
  • Oct 15, 2014 12:12am Oct 15, 2014 12:12am
I'm seeing long for it right now. Saw a nice big W forming since the NY session, sure enough, once it completed, it jumped up a bit. The big boys were basically cleaning out the retail traders during that period. Shows it's moving down, suckers some traders in, moves back up. At the top, suckers some traders into buying, moves back down. Suckers more traders into selling, follows the intended plan all along of moving back up. They lost big bucks on the pound news, so they want to recoup some losses before going ahead with their plan. Happens every time a lot of big news comes out, and it moves strong (in this case, REALLY strong) in one direction. Just closed one of my longs, waiting for it to dip back down and see some PA happen, then opening another position.

Still have positions at 170.595, and 170.810. Not too sure where to place my target, maybe somewhere in the area of 171.350
  • #14,778
  • Oct 15, 2014 12:14am Oct 15, 2014 12:14am
Breakout from a corrective and bullish triangle with max height 95 pips. Normally, target would be at least break out plus 95 = 171.5.

Bare minimum breakout plus 95 X 0.618 = 59 pips = breakout plus 59 = 171.1.
  • #14,779
  • Oct 15, 2014 12:28am Oct 15, 2014 12:28am
Quoting IveGotQuads
Not all break outs are the same , and this one is a little special with a high probability as the range is on the "Edge" of the last 2 trading sessions. Buy order triggered @ 170.90 SL 170.69 TP open for now GL people
GL man. Just closed my other two positions. Not sure if it's ready to move yet, London might be pulling a fake-out instead of a breakout. If they drop it this session, NY might be inclined to reverse it and move the other way. Now it's just the waiting game, and seeing what patterns and PA comes around.
  • #14,780
  • Oct 15, 2014 12:37am Oct 15, 2014 12:37am
Quoting Mpt
Breakout from a corrective and bullish triangle with max height 95 pips. Normally, target would be at least break out plus 95 = 171.5. Bare minimum breakout plus 95 X 0.618 = 59 pips = breakout plus 59 = 171.1.
Thanks for the info man. Sure enough 171.1 is where it hit. Still think it's going to move higher than that. Just waiting to see what forms up over the next few hours.
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