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Geppy's Geppy Thread (GBP/JPY)

  • #17,521
  • Jul 12, 2016 11:16am Jul 12, 2016 11:16am
Quoting PipMaxzz
I expect a big drop here...every Yen pair hit a resistance, big or small resistance. Dow Jones hit the all time high mark.
Maybe. I never expect anything though. I just go with the flow.

I almost expected us to hit a wall at 133.20 -- I would have been very wrong.

I almost expected us to hit a wall at 135.65 -- I would have been very wrong again.
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  • #17,522
  • Jul 12, 2016 11:24am Jul 12, 2016 11:24am
WOW! There goes 139.00... amazing.

That means we just poked above the post-Brexit highs put in on June 29th. This could still run, gang!
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  • #17,523
  • Jul 12, 2016 11:24am Jul 12, 2016 11:24am
Out my TP2 139... Good night everyone~~ Time for a good sleep. It's 12.30am in the morning now
  • #17,524
  • Jul 12, 2016 11:26am Jul 12, 2016 11:26am
Quoting goldgirl
Out my TP2 139... Good night everyone~~ Time for a good sleep. It's 12.30am in the morning now
Nice work, GG. You will sleep like a baby tonight!
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  • #17,525
  • Jul 12, 2016 11:27am Jul 12, 2016 11:27am
Quoting Geppy
{quote} Maybe. I never expect anything though. I just go with the flow. I almost expected us to hit a wall at 133.20 -- I would have been very wrong. I almost expected us to hit a wall at 135.65 -- I would have been very wrong again.
You are right....that was another 70 pips and still going strong for GJ
  • #17,526
  • Jul 12, 2016 11:29am Jul 12, 2016 11:29am
Quoting PipMaxzz
{quote} You are right....that was another 70 pips and still going strong for GJ
That's the thing... I was not right. I simply wasn't expecting anything. So impossible to be "right". Just hanging out with my position is all.
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  • #17,527
  • Jul 12, 2016 11:36am Jul 12, 2016 11:36am
Let's see if we can get through the 100MA on H4.
next intraday targets would be 140.10 & 140.90
big targets: 144 & 147
gbpusd seems to resist at 1.33 but let's see
  • #17,528
  • Jul 12, 2016 11:36am Jul 12, 2016 11:36am
Quoting Geppy
{quote} Nice work, GG. You will sleep like a baby tonight!
Yeah... Geppy... Lot's of good news for England is on the way. However, watch out for Thursday BOE annoucement.
  • #17,529
  • Jul 12, 2016 11:47am Jul 12, 2016 11:47am
Quoting goldgirl
{quote} Yeah... Geppy... Lot's of good news for England is on the way. However, watch out for Thursday BOE annoucement.
Yep, it's in the back of my mind. But if I'm still holding by then, I'll keep my same plan... moving SL up and up and up, locking in gains. That way, if GBP runs higher if the UK doesn't cut, I'll be making more pips
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  • #17,530
  • Jul 12, 2016 11:50am Jul 12, 2016 11:50am
Quoting Geppy
WOW! There goes 139.00... amazing. That means we just poked above the post-Brexit highs put in on June 29th. This could still run, gang!
Amazing stuff....geppy would you still advocate for long positions...what does your fibonacci say oh great trader !
  • #17,531
  • Jul 12, 2016 12:04pm Jul 12, 2016 12:04pm
Quoting Geppy
{quote} Yep, it's in the back of my mind. But if I'm still holding by then, I'll keep my same plan... moving SL up and up and up, locking in gains. That way, if GBP runs higher if the UK doesn't cut, I'll be making more pips
your account must be pretty awesome right now after the last time
  • #17,532
  • Jul 12, 2016 12:06pm Jul 12, 2016 12:06pm
Quoting perebeks
{quote} Amazing stuff....geppy would you still advocate for long positions...what does your fibonacci say oh great trader !
Hey bud, it's hard to advocate for longs after we've gone so far so quickly. That's not to say we won't go further, I just don't know.

If you're looking to get in, just try to find a close place for a stop lose and take a stab at it. If you connect, you'll get a good run. Then just start locking in gains. But sometimes it's best to just take a step back and wait. Don't chase the trade if you've missed it. There's always another.

I'm starting to accumulate USD/CAD at current levels. That's a trade I've been stalking and talking about on the blog for awhile. So maybe best to shift your focus to other opportunities. Ultimately, you need to make the decision.
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  • #17,533
  • Jul 12, 2016 12:08pm Jul 12, 2016 12:08pm
Quoting mamalujo
{quote} your account must be pretty awesome right now after the last time
I try not to look at it too much. I actually hide my account value on my mobile app so I never know what the high watermark was. It's a little mental trick I've found to be beneficial. It never feels good seeing your account value lower than what you remember it being when it was at it's highest. And having that in the back of your mind can make you do foolish things.

So I've found it's best not to ever see the highest value. Keep it hidden and you never have to go through that psychological trauma.
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  • #17,534
  • Jul 12, 2016 12:15pm Jul 12, 2016 12:15pm
missed half the gbpjpy move decided to ratchet down my stop to lock in profits last night. Wake to see I got stopped by a measly 5pips Oh well, on to the next one.. Also is anyone thinking about shorting this pair now that its moved so far so fast?
  • #17,535
  • Jul 12, 2016 12:20pm Jul 12, 2016 12:20pm
Quoting FSUtrader
missed half the gbpjpy move decided to ratchet down my stop to lock in profits last night. Wake to see I got stopped by a measly 5pips Oh well, on to the next one.. Also is anyone thinking about shorting this pair now that its moved so far so fast?
That's rough man... 5 pips. But hey, half this move is still very significant. Lots of people got their clocks cleaned trying to short it. So you're a winner still, big time.

Shorts aren't even crossing my mind at this point. The environment right now is super risk-on. There's chatter about BoJ stimulus. And the trend is currently beast-mode higher. That's a recipe for disaster if you're trying to fight it.

I say wait. Yes, the overall trend is still down. But it will be clear when the tide is changing and there will be plenty of pips for the taking.
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  • #17,536
  • Jul 12, 2016 12:23pm Jul 12, 2016 12:23pm
Quoting piphunter7
Let's see if we can get through the 100MA on H4. next intraday targets would be 140.10 & 140.90 big targets: 144 & 147 gbpusd seems to resist at 1.33 but let's see
100MA & 133 on cable seem to be the end of this long bulldozer
could go short now but I think I'm staying out because I don't like how the BoJ intervenes so quietly sometimes
  • #17,537
  • Jul 12, 2016 12:40pm Jul 12, 2016 12:40pm
Quoting piphunter7
{quote} 100MA & 133 on cable seem to be the end of this long bulldozer could go short now but I think I'm staying out because I don't like how the BoJ intervenes so quietly sometimes
Feel like I've heard people say something similar every time we move up 50 or so pips. Glad I don't listen.
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  • #17,538
  • Jul 12, 2016 12:50pm Jul 12, 2016 12:50pm
@Geppy, You are a sound analyst, but your views like most of the others here are short-term. What is playing out at the moment is indicated in the monthly chart below. Price is currently in the lower range of 4000 pips. We can be in this range for the next few months or even a few years (who knows). I entered about 2 days ago at 130, the profit is currently locked at 135. If the weekly candle close above 140, the price can run all the way to 150-155 or even 160. This is the big picture, I thought I should share my thoughts occasionally for those who might be interested.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYH4 JULY 12, 2016.png Size: 21 KB
Click to Enlarge Name: GBPJPYMonthly ONE.png Size: 31 KB
Click to Enlarge Name: GBPJPYWeekly.png Size: 31 KB
Click to Enlarge Name: GBPJPYH4 locked.png Size: 22 KB
  • #17,539
  • Jul 12, 2016 1:04pm Jul 12, 2016 1:04pm
Quoting Geppy
{quote} Feel like I've heard people say something similar every time we move up 50 or so pips. Glad I don't listen.
Haha yeah you're right. But what I meant was more like: If you're not in the market right now, WAIT.
We had 11 bullish H4's now, I'm expecting a bit of a retracement or range now because 1.33 @ gbpusd and 100MA H4 @ gbpjpy come together as a resistance.
I sadly missed the move today but if I would be long from 130 or so I'd probably stay in too, Asian session could bring some nice bullish movement again.
  • #17,540
  • Jul 12, 2016 1:10pm Jul 12, 2016 1:10pm
Quoting piphunter7
{quote} Haha yeah you're right. But what I meant was more like: If you're not in the market right now, WAIT. We had 11 bullish H4's now, I'm expecting a bit of a retracement or range now because 1.33 @ gbpusd and 100MA H4 @ gbpjpy come together as a resistance. I sadly missed the move today but if I would be long from 130 or so I'd probably stay in too, Asian session could bring some nice bullish movement again.
Yes, I think that's more rational. Staying out for now. Although a 138.40-ish stop loss on a long stab doesn't look too bad right now.


Dont blame me if it doesn't work out though
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