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Geppy's Geppy Thread (GBP/JPY)

  • #14,881
  • Oct 23, 2014 8:25am Oct 23, 2014 8:25am
Quoting FX-Ray
{quote} I didnt pay attention to a head and shoulder formation but you should be careful with your sell limit order, did you consider it might get straight through (Risk Mangement?), if it does I aim 176.40/20. Anyway, it might reverse there but 8.00 Lots in front of a runaway train?
*shrugs* That's why I'm only considering at the moment. It's the ideal price to short around there, but I'll probably wait for signs of a major breakout/breakdown.

But honestly, by intraday standards, I'm expecting a correction. It's not just the geppy, however-even the USD is overbought against the yen. Can anyone explain why, though? I expected the pair to go up, but not THIS quickly.
  • #14,882
  • Oct 23, 2014 8:28am Oct 23, 2014 8:28am
Quoting FX-Ray
{quote} I didnt pay attention to a head and shoulder formation but you should be careful with your sell limit order, did you consider it might get straight through (Risk Mangement?), if it does I aim 176.40/20. Anyway, it might reverse there but 8.00 Lots in front of a runaway train?
Im asking because there still sitting sellers who holds their positions, look at the daily low of 2014.10.08;
Just ask yourself, what is going to happen if those sellers bail, this is scenario 1.
Scenario 2 is seller are convicted to the downside.
Most likely scenario 1 is probably true. So no offence here, just a call for caution. Good luck anyway.
  • #14,883
  • Oct 23, 2014 8:35am Oct 23, 2014 8:35am
Quoting Vermillion
{quote} *shrugs* That's why I'm only considering at the moment. It's the ideal price to short around there, but I'll probably wait for signs of a major breakout/breakdown. But honestly, by intraday standards, I'm expecting a correction. It's not just the geppy, however-even the USD is overbought against the yen. Can anyone explain why, though? I expected the pair to go up, but not THIS quickly.
Fundamentals are up, so any X/JPY pair should go up in the intermediate- and longterm. Its just sentiment pushed down the pairs.
The only question is:
When will it resume? Thats it, no more no less, imho.
  • #14,884
  • Oct 23, 2014 8:45am Oct 23, 2014 8:45am
Quoting FX-Ray
{quote} Are you still long from decision point 168.00? Add: We are close to DP 173.40/20; as soon as it gets printed you should adjust your stops aggressively, lock as many pips as possible, risk is increasing there. We might get a reversal or a continuation and thats probably gonna happen fast. So be careful. Add(2): Consider this post (http://www.forexfactory.com/showthre...21#post7811721), good luck
Thanks for the input, much obliged. Yes I am still holding longs from 168.05 area, but as you advised me once, always take partials and never leave everything on the table, even before the optimal targets, So I already locked in some 172.70 area but will keep a close eye as of now. It looks very strong at the minute but as you said will watch it carefully.

Once again thank you!
  • #14,885
  • Oct 23, 2014 8:46am Oct 23, 2014 8:46am
Quoting workingforex
{quote} Thanks for the input, much obliged. Yes I am still holding longs from 168.05 area, but as you advised me once, always take partials and never leave everything on the table, even before the optimal targets, So I already locked in some 172.70 area but will keep a close eye as of now. It looks very strong at the minute but as you said will watch it carefully. Once again thank you!
You´re welcome
  • #14,886
  • Oct 23, 2014 8:52am Oct 23, 2014 8:52am
Quoting FX-Ray
{quote} You´re welcome
Your inputs are priceless, hope there are other people who can benefit from it as well.
  • #14,887
  • Edited 9:02am Oct 23, 2014 8:58am | Edited 9:02am
Quoting workingforex
{quote} Your inputs are priceless, hope there are other people who can benefit from it as well.
Yes I hope that too, I really would love to see some traders in here would get profitable because of me. e.g. I see big potential in IveGotQuads, Im glad I could push him a bit, maybe he gonna make it big time, well time will tell
Attached Image
  • #14,888
  • Oct 23, 2014 9:10am Oct 23, 2014 9:10am
Quoting FX-Ray
{quote} Yes I hope that too, I really would love to see some traders in here would get profitable because of me. e.g. I see big potential in IveGotQuads, Im glad I could push him a bit, maybe he gonna make it big time, well time will tell {image}
Hi FX Ray nice philosophy, I also still have a lot to learn in the markets. I also love trading Geppy because you can trade with low leverage and still some action will happen. I had a target at 170.82 for another try for short, but I think I will be s/o, will watch 170.20 area for further decisions ... I think that 183 is still a valid target on large timeframes.
Fix up, trade sharp ...
  • #14,889
  • Oct 23, 2014 9:17am Oct 23, 2014 9:17am
Quoting Hickson
{quote} Hi FX Ray nice philosophy, I also still have a lot to learn in the markets. I also love trading Geppy because you can trade with low leverage and still some action will happen. I had a target at 170.82 for another try for short, but I think I will be s/o, will watch 170.20 area for further decisions ... I think that 183 is still a valid target on large timeframes.
Well im still learning too, its not gonna end anyway, this is true for every trader.

What you said is right:

You can trade small and participate from volatility/range and even add up in small paces to maximize profits.
Watch inbetween 173.40/20; if you wanna short, do it above 40ish; just dont jump the gun and be willed for a trade off.

Longterm this is still my plan (posted Feb. 9th '14) - first picture:
http://www.forexfactory.com/showthre...16#post7269916

- 184.50
  • #14,890
  • Edited 9:48am Oct 23, 2014 9:43am | Edited 9:48am
We are inbetween DP 173.40/20; showtime

Add: Im just curious how shorties at 40ish behaving..
  • #14,891
  • Oct 23, 2014 9:47am Oct 23, 2014 9:47am
Quoting FX-Ray
{quote} Well im still learning too, its not gonna end anyway, this is true for every trader. What you said is right: You can trade small and participate from volatility/range and even add up in small paces to maximize profits. Watch inbetween 173.40/20; if you wanna short, do it above 40ish; just dont jump the gun and be willed for a trade off. Longterm this is still my plan (posted Feb. 9th '14) - first picture: http://www.forexfactory.com/showthre...16#post7269916 - 184.50
Yes, I have always noticed that the best will never stop learning and never will push their ego. If you give me two people I can probably tell you who does good and who does not by the way they sell it to me: The best seller is usually not the brightest bulb.

Geppy in interesting area now, maybe even a push to 173.60 area now ...
Fix up, trade sharp ...
  • #14,892
  • Oct 23, 2014 9:51am Oct 23, 2014 9:51am
Quoting Hickson
{quote} Yes, I have always noticed that the best will never stop learning and never will push their ego. If you give me two people I can probably tell you who does good and who does not by the way they sell it to me: The best seller is usually not the brightest bulb. Geppy in interesting area now, maybe even a push to 173.60 area now ...
Ego? Screw it! Wanna curse now, that thing called 'ego' only caused pain and dissapointment in my life, I prefer not to have one
  • #14,893
  • Oct 23, 2014 9:54am Oct 23, 2014 9:54am
@Workingforex

Adjust your stop now, lock dat 490 Pips
  • #14,894
  • Oct 23, 2014 9:55am Oct 23, 2014 9:55am
Quoting FX-Ray
{quote} Ego? Screw it! Wanna curse now, that thing called 'ego' only caused pain and dissapointment in my life, I prefer not to have one
True ... it is a burden for everyone, especially the people who have to deal with ego of other's ...

Geppy is on a hard flat now ... just cleared the 40's ... 20-30 pips more up should be easy from here I think.
Fix up, trade sharp ...
  • #14,895
  • Oct 23, 2014 10:00am Oct 23, 2014 10:00am
Think it terms of short sellers if you watch the tickchart now. Set it in context.
  • #14,896
  • Oct 23, 2014 10:02am Oct 23, 2014 10:02am
Took partials here.
  • #14,897
  • Oct 23, 2014 10:04am Oct 23, 2014 10:04am
Quoting FX-Ray
@Workingforex Adjust your stop now, lock dat 490 Pips
I am on it Sir! Watching very closely, either 172.90 or 176+
  • #14,898
  • Oct 23, 2014 10:05am Oct 23, 2014 10:05am
Quoting workingforex
{quote} I am on it Sir! Watching very closely, either 172.90 or 176+
Even if you get stopped out and trend resumes, doesnt matter you will defenitely get your chance to enter again. Dont be afraid you could miss something. Lock it and dont give it away, noone knows what is going to happen next.
  • #14,899
  • Oct 23, 2014 10:12am Oct 23, 2014 10:12am
Quoting FX-Ray
{quote} Even if you get stopped out and trend resumes, doesnt matter you will defenitely get your chance to enter again. Dont be afraid you could miss something. Lock it and dont give it away, noone knows what is going to happen next.
These are GOLDEN words, I will remember them!
  • #14,900
  • Oct 23, 2014 10:14am Oct 23, 2014 10:14am
way to go @ray bro .

i salute your patience on these trades

Quoting FX-Ray
Took partials here.
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