Geppy's Geppy Thread (GBP/JPY) | Page 843 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

Geppy - Pick the bottom 18 replies

Lets Talk GBP/JPY "the geppy" 156 replies

geppy is "ugly" when ? 14 replies

Geppy outlook 0 replies

Attachments: Geppy's Geppy Thread (GBP/JPY)
Exit Attachments

Geppy's Geppy Thread (GBP/JPY)

  • #16,841
  • Edited 7:01pm Dec 14, 2014 6:18pm | Edited 7:01pm
Whilst I still suspect a shallow correction, the GJ level of 185.2 represents a 23.6 retracement of the move 171 ~ 189.5.

I guess if 184/183.3 does not hold up, the 38.2 retrace sits at 182.6/7.

ediited some numbers
  • #16,842
  • Dec 14, 2014 8:38pm Dec 14, 2014 8:38pm
Quoting Mpt
Whilst I still suspect a shallow correction, the GJ level of 185.2 represents a 23.6 retracement of the move 171 ~ 189.5. I guess if 184/183.3 does not hold up, the 38.2 retrace sits at 182.6/7. ediited some numbers
Yeah, she's feelin' a bit heavy... but honestly, it could go either way. Probably best not to commit to any positions by New York open tomorrow.
check out my blog: forexmademillionaire dot com
  • #16,843
  • Edited 4:18am Dec 15, 2014 3:25am | Edited 4:18am
Quoting Mpt
{quote} Resistance, apart from being futile, is eventually to be broken. Now, this thing could go down a fair amount, but just looking at the mess it's creating suggests (to me) that it's in a shallow correction that may take the form of a semi rounded bottom - something vaguely like this on a 4hr chart ............ {image}
A small addendum. Whilst it's kind of following the outline (within 20 pips to the upside thus far), and while it's natural to say " if it breaks xyz, then it goes up", these can also break down furiously.

It is, after all, just a form of price compression that can go either way.

I like to pretend that 184 will pick it up.
​
  • #16,844
  • Dec 15, 2014 9:31am Dec 15, 2014 9:31am
Good move to the downside. I've been scalping both ways this morning. I'd be really surprised to see any real follow through lower. It just doesn't feel ready to run yet. Never know though!
check out my blog: forexmademillionaire dot com
  • #16,845
  • Dec 15, 2014 10:49am Dec 15, 2014 10:49am
I'm really liking this 15min chart. Ideally, we'd run up to test the blue support line we broke through in the mid 185s and initiate shorts there.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2014-12-15 08.48.35.png Size: 218 KB
check out my blog: forexmademillionaire dot com
  • #16,846
  • Dec 15, 2014 12:16pm Dec 15, 2014 12:16pm
Quoting Geppy
I'm really liking this 15min chart. Ideally, we'd run up to test the blue support line we broke through in the mid 185s and initiate shorts there. {image}
Nice idea, thought so as well.
Fix up, trade sharp ...
  • #16,847
  • Dec 15, 2014 1:20pm Dec 15, 2014 1:20pm
Quoting Geppy
Good move to the downside. I've been scalping both ways this morning. I'd be really surprised to see any real follow through lower. It just doesn't feel ready to run yet. Never know though!
Well, I was super wrong there. No harm though, just caught on the sidelines today.
check out my blog: forexmademillionaire dot com
  • #16,848
  • Dec 15, 2014 1:33pm Dec 15, 2014 1:33pm
Looks like Geppy does not care about this retest thing ...
Fix up, trade sharp ...
  • #16,849
  • Dec 15, 2014 1:42pm Dec 15, 2014 1:42pm
Quoting Hickson
Looks like Geppy does not care about this retest thing ...
Nothing works 100% of the time
check out my blog: forexmademillionaire dot com
  • #16,850
  • Dec 15, 2014 2:15pm Dec 15, 2014 2:15pm
Attached Image (click to enlarge)
Click to Enlarge Name: nm.png Size: 66 KB
  • #16,851
  • Dec 15, 2014 2:29pm Dec 15, 2014 2:29pm
Quoting Petr.K
{image}
Hey Petr, thanks for chiming in with the chart!

The 4hour is definitely something I've been watching too. Sadly, I had the perfect trade plan in place last week but I failed to execute it well... I jumped the gun on my shorts and didn't anticipate the retracement we saw that took us a bit higher:

http://www.forexmademillionaire.com/...-find-support/

If the 4-hour breaks the 200-ema we could see price quite a bit lower!
check out my blog: forexmademillionaire dot com
  • #16,852
  • Edited 10:10pm Dec 15, 2014 9:18pm | Edited 10:10pm
Quoting Mpt
{quote} A small addendum. Whilst it's kind of following the outline (within 20 pips to the upside thus far), and while it's natural to say " if it breaks xyz, then it goes up", these can also break down furiously. It is, after all, just a form of price compression that can go either way. I like to pretend that 184 will pick it up. ​
The idea worked until the last 20~30 pips where it failed to jump aggressively. Am expecting about 183 to pick it up now for at least a modest bounce back into 184x. Doubt that the 183.7 area monthly pivot will have much effect but we will see. If it passes straight through 183, it's probably heading for 181 real soon.
  • #16,853
  • Dec 16, 2014 2:33am Dec 16, 2014 2:33am
Quoting Geppy
{quote} Hey Petr, thanks for chiming in with the chart! The 4hour is definitely something I've been watching too. Sadly, I had the perfect trade plan in place last week but I failed to execute it well... I jumped the gun on my shorts and didn't anticipate the retracement we saw that took us a bit higher: http://www.forexmademillionaire.com/...-find-support/ If the 4-hour breaks the 200-ema we could see price quite a bit lower!
Yep shame that your shorts failed :-) But this was a great opportunity to sell at h4 TImeframe
Im loking to 181,80 Chikou span strong support And if we break it the move back to Kumo :-))
Attached Image (click to enlarge)
Click to Enlarge Name: 987.png Size: 65 KB
  • #16,854
  • Dec 16, 2014 8:12am Dec 16, 2014 8:12am
In the event it fails to bounce heavily at about 180.50/181 ...


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYMonthly.png Size: 42 KB
  • #16,855
  • Dec 16, 2014 8:35am Dec 16, 2014 8:35am
hi to all, what is the situation now? are this pair in a downward trend now?at this point it is below the 200 ma line....
  • #16,856
  • Dec 16, 2014 10:22am Dec 16, 2014 10:22am
Better dont turning on pc right ? EurJpy same situation as NzdJpy
Attached Image (click to enlarge)
Click to Enlarge Name: 888.png Size: 67 KB
  • #16,857
  • Dec 16, 2014 10:34am Dec 16, 2014 10:34am
Quoting Petr.K
Better dont turning on pc right ? EurJpy same situation as NzdJpy {image}

How funn is this market really When u wake up u are in about500 pips in profit after couple of hours u -200
  • #16,858
  • Edited 8:16pm Dec 18, 2014 6:00pm | Edited 8:16pm
Went short some hours ago at 186.58.

Reasons were that wave lengths appeared to match up to within 10 pips - but could extend. Was expecting a breakout move but no idea where it stops. Met resistance at 186.72. Also met 61.8 retracement. GU may only be testing underside of breakout. UJ failing thus far to break over channel resistance and particularly 119.6. Previous recent attempts to hold above this area have been unsuccessful. Maybe it's different this time??

6 pip stop.

If taken out will look at 187.1 and 187.7 ish. Otherwise, looking for a break back under 185.

Edit : it may yet be in a continuation triangle to make a new high, but price nearly always does that even when it's not extending. In any case, a fall out of about 185.5 negates that extension (to some extent) and out of 185.2 confirms it. Any drop out of 185/184.8 ish would be rapid.

2nd edit - closed. Got bored
  • #16,859
  • Dec 18, 2014 10:53pm Dec 18, 2014 10:53pm
Quoting Mpt
2nd edit - closed. Got bored
Lol, weekly will obviously paint bullish pin, price will probably close on entry. But first i am looking into 185.5-6 area
  • #16,860
  • Dec 18, 2014 11:39pm Dec 18, 2014 11:39pm
Quoting IndigoPingvi
{quote} Lol, weekly will obviously paint bullish pin, price will probably close on entry. But first i am looking into 185.5-6 area
Hello old buddy. No emphasis on the word "old". I acknowledge that the 184/5 pivot will be revisited - but I'm still of the view that it will break down again. Pin or no pin, I still think this thing has yet to complete further down with one final run down below 181.5. How and when I have no idea. A 6 day 800 pip correction doesn't seem enough when it was 2200 pips and 38 days in the climb.

As well you know, I have been very wrong many times.
2 traders viewing now