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Geppy's Geppy Thread (GBP/JPY)

  • #16,161
  • Nov 13, 2014 2:34am Nov 13, 2014 2:34am
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this was the week on tuesday
  • #16,162
  • Nov 13, 2014 2:34am Nov 13, 2014 2:34am
Quoting elbert3
{image} one of them funny feelings 1st trade out loss and now sl and long 182.800 bit messy but you know what this thing can do in a heartbeat ,, so no heart attacks please
you could be right and lose both trades as you are entering in the middle of a range... selling into support and buying into resistance. Patience my friend, risk to reward is the name of the game and over-trading kills equity.
  • #16,163
  • Nov 13, 2014 2:36am Nov 13, 2014 2:36am
short term, this pair just looks directionless. RR too low, IMO.
  • #16,164
  • Nov 13, 2014 2:37am Nov 13, 2014 2:37am
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week today 5720 is the fib 61%on this weekly, could see 5200 so hope is now i am short in gbj is that 179 could be seen but fx is not that easy,gl
  • #16,165
  • Nov 13, 2014 2:40am Nov 13, 2014 2:40am
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concern here at this time,so lets see
  • #16,166
  • Nov 13, 2014 2:44am Nov 13, 2014 2:44am
Quoting elbert3
{quote} {image} just for you,,,but i feel naked,,lol gl regards Billy
And this naked chart is very clean and easy on the eyes..trust me when I say I doubt anybody looks at a chart when you cant see the candle stick and all you see is moving averages that quite frankly are a distraction. Less is more in everything
  • #16,167
  • Nov 13, 2014 2:46am Nov 13, 2014 2:46am
Quoting IveGotQuads
{quote} And this naked chart is very clean and easy on the eyes..trust me when I say I doubt anybody looks at a chart when you cant see the candle stick and all you see is moving averages that quite frankly are a distraction. Less is more in everything
morning Q i no but as i said i feel naked ,,lol looks like were both short today gl,,
  • #16,168
  • Nov 13, 2014 2:50am Nov 13, 2014 2:50am
Quoting IveGotQuads
{quote} And this naked chart is very clean and easy on the eyes..trust me when I say I doubt anybody looks at a chart when you cant see the candle stick and all you see is moving averages that quite frankly are a distraction. Less is more in everything
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i have stripped it back a touch for you.small tl at the top is more interday line but i would like to see it broken the line above is old tl and hope is we can make it down to the tl i was showing Hickson.
  • #16,169
  • Nov 13, 2014 2:54am Nov 13, 2014 2:54am
Quoting elbert3
{quote} morning Q i no but as i said i feel naked ,,lol looks like were both short today gl,,
we are both short but I had a short position from yesterday. So what happened, you no longer trading your gbp/Usd ?
  • #16,170
  • Nov 13, 2014 3:00am Nov 13, 2014 3:00am
​Reckon this has/ might have the potential to be a 133.5 (consolidation top) type setup or a 140 ish setup.
  • #16,171
  • Nov 13, 2014 3:01am Nov 13, 2014 3:01am
Quoting IveGotQuads
{quote} we are both short but I had a short position from yesterday. So what happened, you no longer trading your gbp/Usd ?
yes i was in all of yesterday targeted 577 which was done and more and target adjusted if we can break the major weekly fib to 5603 , i came into this thread yesterday and seem to like it here ,
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  • #16,172
  • Nov 13, 2014 5:19am Nov 13, 2014 5:19am
closed both sell positions at this time....this is where I would usually enter a buy order because of the stop run @ 181.95 didn't get an early buy entry so settled on reducing my position size and giving a 40 pip SL ... sloppy entry but better late than never in joining the main trend
  • #16,173
  • Nov 13, 2014 5:21am Nov 13, 2014 5:21am
Quoting IveGotQuads
closed both sell positions at this time....this is where I would usually enter a buy order because of the stop run @ 181.95 didn't get an early buy entry so settled on reducing my position size and giving a 40 pip SL ... sloppy entry but better late than never in joining the main trend
What is the main trend?​ 26 hours ago , it had an opportunity to go long at precisely 183.8, but at that exact point it turned down, somewhat aggressively. So, I question what the main trend is at this time.
  • #16,174
  • Nov 13, 2014 5:24am Nov 13, 2014 5:24am
entry @ 182.24 15 min chart below ... done for the day good luck to all
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  • #16,175
  • Nov 13, 2014 5:32am Nov 13, 2014 5:32am
Quoting Mpt
{quote} What is the main trend?​
I consider the monthly the main trend but here is the weekly since October 2012, pretty consistent if you ask me
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  • #16,176
  • Nov 13, 2014 5:40am Nov 13, 2014 5:40am
Quoting Mpt
{quote} What is the main trend?​ 26 hours ago , it had an opportunity to go long at precisely 183.8, but at that exact point it turned down, somewhat aggressively. So, I question what the main trend is at this time.
you probably have way more experience than me but in my opinion I think just because you enter with the trend at a particular point in time doesn't mean it will go your way. It was going through a retracement or I know this may sound stupid but If I am a Bank Trader with money order flows and I want to buy this pair i wont just buy it @ 183.80 as I feel its too expensive. Why not use the regular orders I have that say companies need to do business ( eg: money to pay bills and workers and expenses,this is money they have to use anyway) to push the price down to where they can buy the currency with their own money cheaper. That's the way I see it...don't take my word, use your experience. But traders that buy or sell and see price immediately go against them this is what happens.
  • #16,177
  • Edited 6:03am Nov 13, 2014 5:45am | Edited 6:03am
Let's see. At 168 it hit weekly support. 168 was the weekly 50 ema as well as the the weekly ichimoku cloud - to the pip. At 184.6 it ran into monthly resistance. Should it turn down, where is MONTHLY support?
  • #16,178
  • Nov 13, 2014 5:45am Nov 13, 2014 5:45am
Quoting MudraGuru
one more thing, i dont think its going to post new high ( above 182.67) before going south ( 181.40 - 60 area)

i was wrong( on short term) but as per my analysis the pair is still in correction... the move upto 182.77 was the end of B wave, currently it is in C wave of correction and now it should go to 181.40-70 area before it starts moving towards north...

as per trading is concern i m out of it for the time being...

and will take buy positions in the above mentioned range with SL @ 181.00 and TP above 185.00..

i would like to know other's view.... is there anyone who uses EW for trading
  • #16,179
  • Edited 5:57am Nov 13, 2014 5:49am | Edited 5:57am
Quoting Mpt
{quote} What is the main trend?​ 26 hours ago , it had an opportunity to go long at precisely 183.8, but at that exact point it turned down, somewhat aggressively. So, I question what the main trend is at this time.
Here's my look at the 4h chart.

It could be this, or it could be that point where you totally disregard what I'm showing. There's also the possibility of 183.94 being a flat top resistance.

Market also made a strong move at 182.000. It temporarily broke that level, so it also could be a sign of..... lol, I don't even want to speculate right now. I'm just going to get some more sleep.

I'm just waking up from having a bottle of wine, and a half bottle of vodka. So my opinion is a bit skewed right now.

My overall opinion, stay out of it for the rest of the week, until it starts making sense again sometime next week. Now if you'll excuse me, there's a bit of vodka I have to finish.

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  • #16,180
  • Nov 13, 2014 5:49am Nov 13, 2014 5:49am
At the end of the day it boils down to probability and this as high as it gets...will take losses sometimes but as long as we follow the bankers... the risk to reward is usually much more astronomical as for example presently I am sure we had some sellers sell at the break out and are trapped right now. Sellers stop losses will be hit and to close their positions they will have to buy (its a buy order after all) pushing the price even higher. Surprised at the moment there's no momentum...perhaps US session will carry it. Sorry for talking to much got to run and prepare for work, later and Good luck
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