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Geppy's Geppy Thread (GBP/JPY)

  • #16,861
  • Dec 18, 2014 11:50pm Dec 18, 2014 11:50pm
Quoting Mpt
{quote}one final run down below 181.5.
I see this area as well, in a few weeks...
  • #16,862
  • Dec 18, 2014 11:57pm Dec 18, 2014 11:57pm
Quoting IndigoPingvi
{quote} I see this area as well, in a few weeks...

I see it in the next few hours.
  • #16,863
  • Dec 19, 2014 12:07am Dec 19, 2014 12:07am
Quoting Mpt
{quote} I see it in the next few hours.
550 pip drop in a few hours? This weeks move down almost confirmed a trendline beneth it, we bounced from it, I very much doubt price will visit it this or next week.
  • #16,864
  • Dec 19, 2014 12:22am Dec 19, 2014 12:22am
Quoting IndigoPingvi
{quote} 550 pip drop in a few hours? This weeks move down almost confirmed a trendline beneth it, we bounced from it, I very much doubt price will visit it this or next week.

No, 185 in a few hours
  • #16,865
  • Edited 6:47am Dec 19, 2014 6:35am | Edited 6:47am
May yet have one more move up into 187.5 or so. Depends on whether it clears the 186.1 ish area or not
  • #16,866
  • Dec 19, 2014 6:44am Dec 19, 2014 6:44am
please check out performance of this trader.. https://www.zulutrade.com/trader/243343
  • #16,867
  • Dec 19, 2014 6:47am Dec 19, 2014 6:47am
Quoting xetrader
please check out performance of this trader.. https://www.zulutrade.com/trader/243343
Maximum drawdown 431% (4.55K) !!!! LOL!!!!!
Fix up, trade sharp ...
  • #16,868
  • Dec 19, 2014 6:48am Dec 19, 2014 6:48am
Quoting xetrader
please check out performance of this trader.. https://www.zulutrade.com/trader/243343
Hopefully they took out their 'winnings' and walked away.
  • #16,869
  • Dec 19, 2014 6:57am Dec 19, 2014 6:57am
UJ failing to make 119.6+ would suggest the move up was corrective and will have more downside. GU may bounce back to its favourite resting place of 1.5710 ish one last time.

So GJ could follow up a bit more. Failing a GU bounce, the downside move may be under way.

Corrective UJ would return to the bottom or below. Confirmation of its being the first impulsive move up would only suggest a 50-61 % correction later.

GU to the bottom - at least the correction height (1.53 or so)- as long as it does eventually break to the bottom

GJ over about 187.7/9 - up. Holding below, would anticipate possibly as low as 178 or so
  • #16,870
  • Dec 21, 2014 9:17pm Dec 21, 2014 9:17pm
Any move now over about 186.9/187/187.2 suggests that the up-trend really has resumed and could go as high as about 187.9/188. A fallback in the the order of 50/61.8 would then complete a minor correction that would resume the up-trend with power.

Failure right around here at 187 suggests the top of a correction in a larger down trend.

It's right on the line.
  • #16,871
  • Dec 23, 2014 12:26am Dec 23, 2014 12:26am
It MIGHT be rolling over - at least for a retrace. Otherwise, 187.9 is next up

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 60 KB
  • #16,872
  • Dec 23, 2014 2:07am Dec 23, 2014 2:07am
Quoting Mpt
It MIGHT be rolling over - at least for a retrace. Otherwise, 187.9 is next up {image}
Interesting chart ... the underlying ideas make some sense!
Fix up, trade sharp ...
  • #16,873
  • Dec 23, 2014 4:00am Dec 23, 2014 4:00am
Quoting Hickson
{quote} Interesting chart ... the underlying ideas make some sense!
Yeah, well not exactly drawn correctly, but it did fail the high. Let's see where it gets to. It's held up by the 4hr and daily gann levels thus far. GU appears to have broken down from its consolidation mess, but has to break the lows. UJ is teetering.

So far nothing to write home about, but, by an old convention, a break of the daily and 4hr ganns is bearish. Fail to break remains bullish
  • #16,874
  • Dec 23, 2014 4:09am Dec 23, 2014 4:09am
Quoting Mpt
{quote} Yeah, well not exactly drawn correctly, but it did fail the high. Let's see where it gets to. It's held up by the 4hr and daily gann levels thus far. GU appears to have broken down from its consolidation mess. but has to break the lows. UJ is teetering.
Liquidity is very thin, so price can suddenly move on not very much at all. G/U got sold of in a spike right now, but might find support at 1.5550
Fix up, trade sharp ...
  • #16,875
  • Dec 23, 2014 4:36am Dec 23, 2014 4:36am
Quoting Hickson
{quote} Liquidity is very thin, so price can suddenly move on not very much at all. G/U got sold of in a spike right now, but might find support at 1.5550
I'm fairly sure that GU has, in fact, broken out. It's consolidation is of a similar circular shape to those I drew for GJ. I suspect it broke out at 1.5575 plus or minus.

If so, it should clear the double/triple bottom stuff but maybe pause (or bounce) at or about 1.551 ish
  • #16,876
  • Dec 23, 2014 4:39am Dec 23, 2014 4:39am
Quoting Mpt
{quote} I'm fairly sure that GU has, in fact, broken out. It's consolidation is of a similar circular shape to those I drew for GJ. I suspect it broke out at 1.5575 plus or minus.
Depends on your target ... I still can see intraday targets higher for GU.
Fix up, trade sharp ...
  • #16,877
  • Dec 23, 2014 10:29am Dec 23, 2014 10:29am
GJ and UJ in triangles??
  • #16,878
  • Dec 23, 2014 10:31am Dec 23, 2014 10:31am
Quoting Mpt
GJ and UJ in triangles??
What triangle?
  • #16,879
  • Dec 23, 2014 6:43pm Dec 23, 2014 6:43pm
Quoting Vermillion
{quote} What triangle?
The one we might be sitting in the middle of if price can't break 187.5 and happens to drop out of 185.

But any bounce from somewhere over 185 may well take it back to 189.5 over the next few days.

Both UJ's and GJ's rapid bounces from recent lows are also very much as one would expect upon completion of the first leg of a triangle. Maybe a triangle or just plain bullish????
  • #16,880
  • Edited 7:38pm Jan 6, 2015 6:28pm | Edited 7:38pm
Some 18/20 hours ago it entered the daily cloud at 181 ish with little resistance and retested it's entry some hours later. Today it may attempt to leave the cloud to the upside, either successfully, or as a correction towards 182.5 or 183.3/5. It is into the general area highlighted here some days ago as a possible target, but should it only correct sideways, or in any case fail to move over 181, more downside is likely towards the 177/177.2 area, where I would expect very good support that was untested on the move up from 176 earlier. Daily cloud bottom sits today at 177, but 178/178.5 has yet to be hit.

Only a move over 184.3 and certainly 185 would suggest the downside is over.
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