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Geppy's Geppy Thread (GBP/JPY)

  • #14,961
  • Oct 29, 2014 1:14am Oct 29, 2014 1:14am
No one knows where price will be after all the blood is in the streets but I know I will be placing a buy order 70/80 pips down below price action this morning with a wider range of stop loss/smaller size to get into a position. I am guessing 173.67 but 173.37 zone will be fine as well. This news will definitely whipsaw and shake a lot of traders out of their positions, not to mention some players taking advantage of the liquidity to bank profits and re-enter at a cheaper price. As long as the risk is controlled. we will be alright. GL
  • #14,962
  • Oct 29, 2014 2:25am Oct 29, 2014 2:25am
The asian session has been really tight today. Only a range of 20 pips. If the big boys are accumulating their positions, then they're likely to move it sometime in the next 2-3 hours. It's already had a good move up once so far this week, so I think there's room for another jump up today.

Going to keep a close eye on it, and set up some pending orders on some levels that look appealing.
  • #14,963
  • Oct 29, 2014 2:49am Oct 29, 2014 2:49am
Quoting IveGotQuads
No one knows where price will be after all the blood is in the streets but I know I will be placing a buy order 70/80 pips down below price action this morning with a wider range of stop loss/smaller size to get into a position. I am guessing 173.67 but 173.37 zone will be fine as well. This news will definitely whipsaw and shake a lot of traders out of their positions, not to mention some players taking advantage of the liquidity to bank profits and re-enter at a cheaper price. As long as the risk is controlled. we will be alright. GL
The numbers I posted, added to yours probably wouldn't involve much in the way of buying.​
  • #14,964
  • Oct 29, 2014 3:04am Oct 29, 2014 3:04am
Quoting Mpt
{quote} The numbers I posted, added to yours probably wouldn't involve much in the way of buying.​
Tell me about it ...Looks like another day of not trading this pair as I am already exposed to the Gbp/Usd and Eur/Jpy. To some extent you are right but In any event I will still look out for potential buys, slight problem is if the opportunity comes to sell I may not be on my desk at that time. In a way preparing myself mentally to buy at the opportune time makes it easy when it arrives . ( I've missed this boat 3 times the past 3 weeks) Looks like i'm done for the day and thanks for your input, it gives confidence.
  • #14,965
  • Oct 29, 2014 3:20am Oct 29, 2014 3:20am
GJ testing trendline for the 2nd time, great timing to catch it at daily pivot at 174.3, it should go further up north.
  • #14,966
  • Oct 29, 2014 3:43am Oct 29, 2014 3:43am
GBPJPY breaking lower on a wave v down?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily 18.png Size: 55 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 19.png Size: 46 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #14,967
  • Oct 29, 2014 3:53am Oct 29, 2014 3:53am
173.25 is in play
  • #14,968
  • Oct 29, 2014 4:02am Oct 29, 2014 4:02am
Quoting PoundTrader
173.25 is in play
What abt 172.95???
  • #14,969
  • Edited 4:18am Oct 29, 2014 4:02am | Edited 4:18am
Quoting skyhok
GBPJPY breaking lower on a wave v down? {image} {image}
If you want to talk waves, either a d wave in the up trend (stopping at about 174.1 ish), the start of a b wave to 168x (with the c wave to begin at 168x and run up to about 178) (a x1.618) or a wave 2 back to about 170.5 (wherein the move to 168 was major wave 2).

Right now the d wave has it.

Only a drop below 173.85 AND 173.6 opens the other possibilities
  • #14,970
  • Oct 29, 2014 4:34am Oct 29, 2014 4:34am
Quoting Mpt
{quote} If you want to talk waves, either a d wave in the up trend (stopping at about 174.1 ish), the start of a b wave to 168x (with the c wave to begin at 168x and run up to about 178) (a x1.618) or a wave 2 back to about 170.5 (wherein the move to 168 was major wave 2). Right now the d wave has it. Only a drop below 173.85 AND 173.6 opens the other possibilities
Thank you for the waves suggestion, a chart would help.
Elliott Wave for optimum entry, exit and risk management of trades
  • #14,971
  • Oct 29, 2014 6:01am Oct 29, 2014 6:01am
Quoting Barca
{quote} What abt 172.95???
if she makes a new daily high i suggest closing shorts, but so far shorts are still in play http://www.easyfreesmileys.com/smileys/lol-046.gif
  • #14,972
  • Oct 29, 2014 6:16am Oct 29, 2014 6:16am
Quoting PoundTrader
{quote}if she makes a new daily high i suggest closing shorts, but so far shorts are still in play {image}
Looking at 30Mins TF..we could target 173.75/80
  • #14,973
  • Oct 29, 2014 7:21am Oct 29, 2014 7:21am
Quoting Barca
{quote} Looking at 30Mins TF..we could target 173.75/80
never heard of a 30min TF, just kidding i just dont get a feel for the market using lower TF
  • #14,974
  • Oct 29, 2014 7:43am Oct 29, 2014 7:43am
Quoting Mpt
{quote} To save it? Whilst it may be in a small rising wedge to complete at 174.15/25, or not-printed top at about 174.3/4, any move over 174.5/6 would suggest acceleration to 175 or above.
In the mean time consumer confidence in the US was a blowout number so up, but it's own UK data sucked with 3 out of 4 releases worse than expected. I believe much of the FED language is expected and already priced into GBP/JPY. London has clipped it's wings on this news and NY is wary to buy now.
Be humble or be humbled.
  • #14,975
  • Oct 29, 2014 9:17am Oct 29, 2014 9:17am
Quoting Temujin
{quote} In the mean time consumer confidence in the US was a blowout number so up, but it's own UK data sucked with 3 out of 4 releases worse than expected. I believe much of the FED language is expected and already priced into GBP/JPY. London has clipped it's wings on this news and NY is wary to buy now.
I did get lucky and manage to get in @ 174.17 and I entered on the premise of holding this to 176.xx and re-evaluating. Hope the trade survives, fingers crossed.
  • #14,976
  • Oct 29, 2014 10:15am Oct 29, 2014 10:15am
Quoting IveGotQuads
{quote} I did get lucky and manage to get in @ 174.17 and I entered on the premise of holding this to 176.xx and re-evaluating. Hope the trade survives, fingers crossed.
It's trembling and chomping at the bit for that 176 as MPT said. This is the best pair ever. Buy mode is buy mode and vice versa. No data can stop it, all buy the dips. Good trade sir. IMHO I'd get out with those profits before that lady starts talking. QE ends today, bad. Zero rates forever, good. Going to be a whipsaw soon.
Be humble or be humbled.
  • #14,977
  • Oct 29, 2014 10:33am Oct 29, 2014 10:33am
Quoting Temujin
{quote} It's trembling and chomping at the bit for that 176 as MPT said. This is the best pair ever. Buy mode is buy mode and vice versa. No data can stop it, all buy the dips. Good trade sir. IMHO I'd get out with those profits before that lady starts talking. QE ends today, bad. Zero rates forever, good. Going to be a whipsaw soon.
Thanks Temujin thats some good advice and Ive moved SL to break even. Probably prepared for a breakeven trade if that happens, I wonder what the traders with a 200 pip position will do ? now that will be some discussion.
  • #14,978
  • Edited 10:52am Oct 29, 2014 10:49am | Edited 10:52am
Quoting IveGotQuads
{quote} Thanks Temujin thats some good advice and Ive moved SL to break even. Probably prepared for a breakeven trade if that happens, I wonder what the traders with a 200 pip position will do ? now that will be some discussion.
http://www.forexfactory.com/showthre...30#post7819830

Missed by ~7 Pips and kept Mr.Workingforex in the trade for from 168.20/00 to 176.20/00
  • #14,979
  • Oct 29, 2014 10:52am Oct 29, 2014 10:52am
Quoting IveGotQuads
{quote} Thanks Temujin thats some good advice and Ive moved SL to break even. Probably prepared for a breakeven trade if that happens, I wonder what the traders with a 200 pip position will do ? now that will be some discussion.
I have a grid type 6 position trade still running from 169.00, up around 20% atm with all trades in the money,,,, Im watching occasionally but not concerned as there dosent seem to be any reversal signals as of yet that I see.
  • #14,980
  • Oct 29, 2014 10:57am Oct 29, 2014 10:57am
Quoting FX-Ray
{quote} http://www.forexfactory.com/showthre...30#post7819830 Missed by ~7 Pips and kept Mr.Workingforex in the trade for from 168.20/00 to 176.20/00
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