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Geppy's Geppy Thread (GBP/JPY)

  • #15,001
  • Oct 30, 2014 10:23am Oct 30, 2014 10:23am
Quoting workingforex
{quote} Surely I will increase my stop to 175.75 when 176 get printed. Keeping a close watch at the minute, seems like in a tight range since morning today. Thank you for the input, much appreciated.
Np

Im out for now. Catch ya 2morrow.
  • #15,002
  • Edited 9:10pm Oct 30, 2014 6:12pm | Edited 9:10pm
The price action mess over the last few days indicated a continuation north, indeed it even set up a small continuation pattern with a height of 76 pips. The breakout from that formation was tested, then price proceeded to its first destination of 174.98/175 which was easily met. Its next target was 76 x 1.236, being 175.15, which was met.

Any move soon over its next target at 174.25 would likely proceed to 76 x 2.618, being 176.15. (or the area 175.8/176) - but 175.4/175.6 could still possibly hold it.
  • #15,003
  • Oct 30, 2014 6:27pm Oct 30, 2014 6:27pm
Quoting Mpt
The price action mess over the last few days indicated a continuation north, indeed it even set up a small continuation pattern with a height of 76 pips. The breakout from that formation was tested, then price proceeded to its first destination of 174.98/175 which was easily met. Its next target was 76 x 1.236, being 175.15, which was met. Any move soon over its next target at 174.25 would likely proceed to 76 x 2.618, being 176.15. Any drop now below about 173.8 suggests completion ..... or a larger consolidation taking it back into the mid 173...
JPY got some news coming... do you think it's really going to move the pair?
  • #15,004
  • Oct 30, 2014 6:32pm Oct 30, 2014 6:32pm
Quoting poseikwame
{quote} JPY got some news coming... do you think it's really going to move the pair?
No idea. There's only been one BOJ release that's moved it significantly in the last three or four years. Usually they're good for either a spike up or a dump. Having said that, price sometimes moves higher in anticipation of some wondrous news .
  • #15,005
  • Oct 30, 2014 10:04pm Oct 30, 2014 10:04pm
Some commented @ INVESTING.COM GJ doing down to 169.50 by today. Any comments??
  • #15,006
  • Oct 30, 2014 10:27pm Oct 30, 2014 10:27pm
Attached Image (click to enlarge)
Click to Enlarge Name: GJ2014.png Size: 538 KB


Possible 169.50 as target? any comments?
  • #15,007
  • Oct 30, 2014 10:37pm Oct 30, 2014 10:37pm
Anything's possible, but there's little sense in idle speculation. I've presented possible resistances here - and they're almost the same as Fx-Ray's. Should it stop around here, then we'll find out where it goes. But should it run through 176, it isn't coming down today.

And no amount of red lines drawn on charts will make it fall down. Unless you haven't noticed, GJ either never gets the daily memos that say "down" or it chooses to ignore them
  • #15,008
  • Oct 30, 2014 11:00pm Oct 30, 2014 11:00pm
Quoting Mpt
Anything's possible, but there's little sense in idle speculation. I've presented possible resistances here - and they're almost the same as Fx-Ray's. Should it stop around here, then we'll find out where it goes. But should it run through 176, it isn't coming down today. And no amount of red lines drawn on charts will make it fall down. Unless, you haven't noticed, GJ either never gets the daily memos that say "down" or it chooses to ignore them
I concur, though anything is possible in forex and jpy pairs it doesn't mean its probable. 169.50 tomorrow?, I doubt it. One thing I have learned (or at least I think I have) trading xxx/jpy for several years is most of the time they will run a trend longer than the charts say so and retail traders have funds to throw at unproven reversals. Id stick long and be beaten by an actual trend change once before I give coin away trying to go short without a decent signal on a daily or longer chart.
  • #15,009
  • Oct 30, 2014 11:09pm Oct 30, 2014 11:09pm
well I am not exactly rolling on the floor, but that's exactly right...
Quoting Mpt
Anything's possible, but there's little sense in idle speculation. I've presented possible resistances here - and they're almost the same as Fx-Ray's. Should it stop around here, then we'll find out where it goes. But should it run through 176, it isn't coming down today. And no amount of red lines drawn on charts will make it fall down. Unless you haven't noticed, GJ either never gets the daily memos that say "down" or it chooses to ignore them
  • #15,010
  • Oct 31, 2014 12:04am Oct 31, 2014 12:04am
Quoting workingforex
{quote} Surely I will increase my stop to 175.75 when 176 get printed. Keeping a close watch at the minute, seems like in a tight range since morning today. Thank you for the input, much appreciated.
Adjust your SL mate. 176.20/00 printed

If 176.20/00 support next 179.80/60
If 176.20/00 resistance next 173.20/00
  • #15,011
  • Edited 12:30am Oct 31, 2014 12:19am | Edited 12:30am
Quoting FX-Ray
{quote} Adjust your SL mate. 176.20/00 printed If 176.20/00 support next 179.80/60 If 176.20/00 resistance next 173.20/00
It got straight through, maybe it wont get tested today + next week which should be a strong sign of strenght, leave your SL in place, 770Pips locked, no matter what. Dont touch it , follow gameplan as discussed.

If it got tested today or next week same procedure as usuall.

Add:
Anyway your SL = 176.00(DP lower boundary) - 0.14(ATR(24h)) - 0.14(Uncertainty-Fraction) - 0.015(Average Spread) = 175.7185 ~175.72
  • #15,012
  • Edited 12:53am Oct 31, 2014 12:25am | Edited 12:53am
http://www.forexfactory.com/news.php?do=news&id=511147

Fundamentals confirmed

Add: 80 Trillion Yen
  • #15,013
  • Oct 31, 2014 12:38am Oct 31, 2014 12:38am
Reminder:

http://www.forexfactory.com/showthread.php?p=7269916#post7269916 (posted 9th Feb'14)

First Pic --> 184.50 is first target intermediate term. Good Luck everyone!

Map
Attached Image (click to enlarge)
Click to Enlarge Name: Map.png Size: 197 KB
  • #15,014
  • Oct 31, 2014 12:48am Oct 31, 2014 12:48am
Quoting FX-Ray
Reminder: http://www.forexfactory.com/showthread.php?p=7269916#post7269916 (posted 9th Feb'14) First Pic --> 184.50 is first target intermediate term. Good Luck everyone! Map {image}
Inserted Video


"If I give up now, IŽll regret it forever." - Monkey D. Ruffy

Enjoy
  • #15,015
  • Edited 1:28am Oct 31, 2014 1:05am | Edited 1:28am
closed most at 177.3 - not done due to KNOWN facts - a bit more of a long time hunch (suspicion). Can always re-enter if I'm wrong.
  • #15,016
  • Edited 2:36am Oct 31, 2014 1:15am | Edited 2:36am
And of course, I'm at work, and the big BOJ news hits and shoots for about 200 pips. If someone could kindly find my mom and brother some work, I'd gladly quit working weekdays so I can actually maintain a profitable account. :S

edit: Well, got in late. Better late than never I guess. Going to hold my position at 177.020 for a while. Let's see if our almighty seer FX-Ray has predicted the future once again.
  • #15,017
  • Oct 31, 2014 3:32am Oct 31, 2014 3:32am
Quoting FX-Ray
{quote} It got straight through, maybe it wont get tested today + next week which should be a strong sign of strenght, leave your SL in place, 770Pips locked, no matter what. Dont touch it , follow gameplan as discussed. If it got tested today or next week same procedure as usuall. Add: Anyway your SL = 176.00(DP lower boundary) - 0.14(ATR(24h)) - 0.14(Uncertainty-Fraction) - 0.015(Average Spread) = 175.7185 ~175.72
Wow, what a morning!

I am one happy bunny today! Yes I have adjusted my stop accordingly, locked in 768 pips to be precise!

With fundamentals confirmed it look very strong to go above 180+ soon. I would once again thank you for being there with me at every step, I would not have held it so long without your guidance. 770 pips locked-in one trade is amazing and still going strong, best one I have ever done!
  • #15,018
  • Oct 31, 2014 4:26am Oct 31, 2014 4:26am
WOW. 350 pips and still going. Took my profit at 100. Man oh man, next couple of weeks are going to be interesting. Have a feeling there's going to be a bunch of whip-sawing next week. There's obviously bound to be some retracing, but the banks will probably hold out for a week to whip traders around and make some money back.

Which is fine by me. A little system I've been working on is perfect for a situation like this.
  • #15,019
  • Oct 31, 2014 8:41am Oct 31, 2014 8:41am
Quoting workingforex
{quote} Wow, what a morning! I am one happy bunny today! Yes I have adjusted my stop accordingly, locked in 768 pips to be precise! With fundamentals confirmed it look very strong to go above 180+ soon. I would once again thank you for being there with me at every step, I would not have held it so long without your guidance. 770 pips locked-in one trade is amazing and still going strong, best one I have ever done!
Too much credit here mate, thanks anyway. I showed you the door but you walked in yourself, its your performance. Well done, keep going!
  • #15,020
  • Oct 31, 2014 9:27am Oct 31, 2014 9:27am
'Small' Update:

Decision point 179.80/60 is close
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