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Geppy's Geppy Thread (GBP/JPY)

  • #17,381
  • Jul 6, 2016 1:15am Jul 6, 2016 1:15am
Quoting Danielant
this was my 1 of January GJ outlook, drop to 125-130 {image}

Valid argument, but to get up now it would have to clear 131.5 and then 133 (amongst others)

Conversely, under 128.8 opens 124.4/125, then 122, followed by 117/118 ish. In that case, it's open for 110/105// 96 ish, leading possibly to conclusion as low as 86.

Nov 2012 saw it launch up from 128.6, so it's just completed a full circle.
  • #17,382
  • Jul 6, 2016 6:47am Jul 6, 2016 6:47am
Quoting Cm7
{quote} Yes, probably 125.00 for today and 117.00 for tomorrow
How many pips you made today?
  • #17,383
  • Jul 6, 2016 8:36am Jul 6, 2016 8:36am
Quoting goldgirl
{quote} How many pips you made today?
Still floating 170 pips, I will close it tomorrow 1 hour before Tokyo open and then open another position.
  • #17,384
  • Jul 6, 2016 8:44am Jul 6, 2016 8:44am
Hey gang, our puppy got spayed yesterday so I spent the night sleeping downstairs on the floor with her. Poor girl!

The good news is I was able to wake up every couple hours and sell more GBP/JPY (amongst other pairs)

So I'm still short and holding. I see no reason to cover yet.
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  • #17,385
  • Jul 6, 2016 8:48am Jul 6, 2016 8:48am
Quoting Cm7
{quote} Still floating 170 pips, I will close it tomorrow 1 hour before Tokyo open and then open another position.
Consolidating is the hour of generating energy for a big move. Anyway, Tokyo open might again seeing dancing babes.
  • #17,386
  • Jul 6, 2016 8:52am Jul 6, 2016 8:52am
Quoting goldgirl
{quote} Consolidating is the hour of generating energy for a big move. Anyway, Tokyo open might again seeing dancing babes.
Absolutely, and we're just seeing some consolidation here. Staying patient.
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  • #17,387
  • Jul 6, 2016 9:16am Jul 6, 2016 9:16am
Keep your eye on this trend line support, gang. If/when it breaks... look out below!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-07-06 07.15.41.png Size: 128 KB
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  • #17,388
  • Jul 6, 2016 10:06am Jul 6, 2016 10:06am
geppy - hope your puppy feels better soon! this gbpjpy swings so much but i just keep selling on rallies and so far it has worked
  • #17,389
  • Jul 6, 2016 10:07am Jul 6, 2016 10:07am
Quoting Shoezgal
geppy - hope your puppy feels better soon! this gbpjpy swings so much but i just keep selling on rallies and so far it has worked
Thanks, Shoezgal!

And yes, that's what I'm doing too. No need to get too attached to unrealized gains. Heck, if I'd done that and closed at say 133.20, I'd really be kicking myself.

Let her ride, baby!
check out my blog: forexmademillionaire dot com
  • #17,390
  • Jul 6, 2016 4:04pm Jul 6, 2016 4:04pm
hey gang, just finished and published the daily roundup: http://www.forexmademillionaire.com/...oundup-762016/
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  • #17,391
  • Jul 6, 2016 4:52pm Jul 6, 2016 4:52pm
Thanks for the guidance Geppy. Any thoughts on how the BOJ statement tonight might affect the yen?
  • #17,392
  • Jul 6, 2016 5:43pm Jul 6, 2016 5:43pm
Well well, she has woken up and going down
  • #17,393
  • Jul 6, 2016 6:05pm Jul 6, 2016 6:05pm
Quoting Mulegrinder
Thanks for the guidance Geppy. Any thoughts on how the BOJ statement tonight might affect the yen?
Honestly, no. I'm not letting it factor into my trade plan at all.

I remember the other month everyone was so scared of potential BoJ intervention they wouldn't short GBP/JPY. I kept selling and made a bundle.

Good times
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  • #17,394
  • Jul 6, 2016 6:07pm Jul 6, 2016 6:07pm
Quoting Pip-Miner
Well well, she has woken up and going down
Yeah, buddy!

Keeping my eye on the 5-minute trend line. I'd like to see a little more of a thrust down to really get this train started:
Attached Image (click to enlarge)
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  • #17,395
  • Jul 6, 2016 6:11pm Jul 6, 2016 6:11pm
Quoting Geppy
{quote} Honestly, no. I'm not letting it factor into my trade plan at all. I remember the other month everyone was so scared of potential BoJ intervention they wouldn't short GBP/JPY. I kept selling and made a bundle. Good times
A little more thought on this...

There's always the possibility we completely dump on any further BoJ "expectations". The thinking here is what more can the BoJ really do at this point. I'm not a fundamental expert, but I do know that the BoJ is relatively "out of bullets", so to speak.

So if the market is expecting something and they get squadoosh... well, buh bye Yen pairs. I've seen this before, so it's definitely a possibility.
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  • #17,396
  • Jul 6, 2016 6:16pm Jul 6, 2016 6:16pm
Yes, that was similar to what I was thinking. If they keep everything status-quo it's my view that we'll head further down.
  • #17,397
  • Jul 6, 2016 6:36pm Jul 6, 2016 6:36pm
Quoting Geppy
{quote} A little more thought on this... There's always the possibility we completely dump on any further BoJ "expectations". The thinking here is what more can the BoJ really do at this point. I'm not a fundamental expert, but I do know that the BoJ is relatively "out of bullets", so to speak. So if the market is expecting something and they get squadoosh... well, buh bye Yen pairs. I've seen this before, so it's definitely a possibility.
BoJ , been watching usdjpy at 100 in mirror but if you keep tight stop loss who cares , more down side if they don't do anything.
  • #17,398
  • Jul 6, 2016 6:51pm Jul 6, 2016 6:51pm
Fib zones and the SMA's on the 5-minute coming into play. If you haven't sold yet, now is as good a time as any.
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  • #17,399
  • Jul 6, 2016 6:56pm Jul 6, 2016 6:56pm
Hey Geppy, I'm always learning... any chance you could give us quick bullet points as to what we should be looking for on your chart. I know your time is valuable, but I figure it can't hurt to ask.

Thank you,
Mule
  • #17,400
  • Jul 6, 2016 7:20pm Jul 6, 2016 7:20pm
Open gas after corner, buy now full LOT with TP 132
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