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Geppy's Geppy Thread (GBP/JPY)

  • #17,681
  • Jul 14, 2016 10:00am Jul 14, 2016 10:00am
Quoting Shoezgal
for the time being i think 1) no more good news for the GBP, only thing moving it is technicals 2) BOJ is not until 19 july, and hearing Abe is going on vacation next week 3) previously towards 105 japanese exporters were very active selling the pair down 4) it's friday tomorrow people will want to book profits thus....though it pains me, i have to cut my longs. hopefully we can get another signal next week to ride another wave up or down. Geppy's analysis had helped me a lot, thanks
Hey Shoezgal, I think you've got a pretty spot on assessment here. I'd also invite you to read this:

"It's Prohibited By Law" - A Problem Emerges For Japan's "Helicopter Money" Plans

The article is here at ZeroHedge: http://www.zerohedge.com/news/2016-0...er-money-plans
check out my blog: forexmademillionaire dot com
  • #17,682
  • Jul 14, 2016 10:05am Jul 14, 2016 10:05am
Quoting zackgallardo
{quote} it will go to 144. but it retrace. Target retrace 139.4
Me too
  • #17,683
  • Jul 14, 2016 10:05am Jul 14, 2016 10:05am
thanks geppy, still hurting from IB giving me a stuck long gbpjpy position at 142. erased all the profits i've made in the past week or so. will be awaiting your analysis to help make it back
  • #17,684
  • Jul 14, 2016 10:11am Jul 14, 2016 10:11am
Quoting Shoezgal
thanks geppy, still hurting from IB giving me a stuck long gbpjpy position at 142. erased all the profits i've made in the past week or so. will be awaiting your analysis to help make it back
I hate to tell you this, but it is not IB's fault. They are an extremely reputable broker.

The only reason you got a position you're unhappy with is because you chose to trade during a high-risk event with extremely thin liquidity. Your dealer did their job: giving you the best fill possible on your trade.

I used to play poker semi-professionally and I still play a fair amount for fun. There is no shortage of players that get pissed off and blame the dealer for their luck. The reality is these players made terrible plays and decisions; they are the ones that got themselves where they were. I loved playing against these types of players though because I know they'd never improve. Their inability to admit their own failures, learn from them, and improve as a player ensured they'd be stuck as a losing player forever.

And I'd be taking their money.
check out my blog: forexmademillionaire dot com
  • #17,685
  • Jul 14, 2016 10:21am Jul 14, 2016 10:21am
yes it was my mistake, and i'm already crying over it...now no choice but to make it back slowly
  • #17,686
  • Jul 14, 2016 10:48am Jul 14, 2016 10:48am
Quoting Shoezgal
yes it was my mistake, and i'm already crying over it...now no choice but to make it back slowly
trust me, you really needed this experience. i bet next time you know better to stay flat before a significant data....nfp, rates etc. Cut your losses and move on with the lesson and more importantly ensure you dont put yourself in this sort of situation again. Trust me all traders have gone through it. Trading around times like this is simply gambling. You also may need to watch your money management.

Cheers to better trading.
  • #17,687
  • Jul 14, 2016 10:54am Jul 14, 2016 10:54am
yes well said, lesson learnt!
  • #17,688
  • Jul 14, 2016 11:06am Jul 14, 2016 11:06am
Quoting mamalujo
{quote} trust me, you really needed this experience. i bet next time you know better to stay flat before a significant data....nfp, rates etc. Cut your losses and move on with the lesson and more importantly ensure you dont put yourself in this sort of situation again. Trust me all traders have gone through it. Trading around times like this is simply gambling. You also may need to watch your money management. Cheers to better trading.
yes. its true. dont bet when the market open or during News...
  • #17,689
  • Jul 14, 2016 11:59am Jul 14, 2016 11:59am
Quoting mamalujo
{quote} trust me, you really needed this experience. i bet next time you know better to stay flat before a significant data....nfp, rates etc. Cut your losses and move on with the lesson and more importantly ensure you dont put yourself in this sort of situation again. Trust me all traders have gone through it. Trading around times like this is simply gambling. You also may need to watch your money management. Cheers to better trading.
Yep, more good points. And yes, we've all do it.
check out my blog: forexmademillionaire dot com
  • #17,690
  • Jul 14, 2016 1:23pm Jul 14, 2016 1:23pm
Quoting Shoezgal
for the time being i think 1) no more good news for the GBP, only thing moving it is technicals 2) BOJ is not until 19 july, and hearing Abe is going on vacation next week 3) previously towards 105 japanese exporters were very active selling the pair down 4) it's friday tomorrow people will want to book profits thus....though it pains me, i have to cut my longs. hopefully we can get another signal next week to ride another wave up or down. Geppy's analysis had helped me a lot, thanks
Hello mate, what's going down on July 19th?
  • #17,691
  • Jul 14, 2016 4:40pm Jul 14, 2016 4:40pm
Hot of the presses, gang. I think my fingers are smoking after all that typing!

I've made a lot of changes to my positions today and have some new thoughts on what's to come for GBP/JPY.

Read all about it here: http://www.forexmademillionaire.com/...undup-7142016/
check out my blog: forexmademillionaire dot com
  • #17,692
  • Jul 14, 2016 6:48pm Jul 14, 2016 6:48pm
perebeks sorry typo meant 29 July boj meeting
  • #17,693
  • Jul 14, 2016 9:12pm Jul 14, 2016 9:12pm
Hey gang, she's ripping!

I'm still not in a trade and don't plan on making any more this week (if I can help it).

Here's an interesting scenario though:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-07-14 19.10.16.png Size: 155 KB


A fib extension on the hourly puts a 100% extension target at ~146.20

That level actually corresponds incredibly well with the 50% daily fib retracement (notice I redrew it from the high just before Brexit:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-07-14 19.11.47.png Size: 181 KB


With all the risk-on we're seeing, I really wouldn't be surprised to see us trade that high. It could even happen by end of day tomorrow.

Something to consider.
check out my blog: forexmademillionaire dot com
  • #17,694
  • Jul 14, 2016 9:33pm Jul 14, 2016 9:33pm
Quoting Geppy
Hey gang, she's ripping! I'm still not in a trade and don't plan on making any more this week (if I can help it). Here's an interesting scenario though: {image} A fib extension on the hourly puts a 100% extension target at ~146.20 That level actually corresponds incredibly well with the 50% daily fib retracement (notice I redrew it from the high just before Brexit: {image} With all the risk-on we're seeing, I really wouldn't be surprised to see us trade that high. It could even happen by end of day tomorrow. Something to consider.
Got about 160 pips over the last hour plus... TP set at 143.0 right below R1. You think it can get above that before a retrace?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY m1 (07-14-2016 2126).png Size: 29 KB
  • #17,695
  • Jul 14, 2016 9:37pm Jul 14, 2016 9:37pm
Saw flat price last night at 140ish. Reentered long at 140.27. Hopefully make it through to 144
  • #17,696
  • Jul 14, 2016 9:47pm Jul 14, 2016 9:47pm
Quoting Geppy
Hot of the presses, gang. I think my fingers are smoking after all that typing! I've made a lot of changes to my positions today and have some new thoughts on what's to come for GBP/JPY. Read all about it here: http://www.forexmademillionaire.com/...undup-7142016/
Hey Geppy!

I've been following your blog for some time now and just wanted to say publically that I enjoy reading your posts. Your simple, yet concise rationale / style is refreshing.

I'm going to support your operation @ Patreon.

Cheers!
Follow me at andrewfx2020 (dot) com
  • #17,697
  • Jul 14, 2016 10:10pm Jul 14, 2016 10:10pm
Quoting goldgirl
{quote} Surely do. I am just analyzing base on simple S/R . I am not well-verse with complicated indicators like pivot points and fibo though I have some knowledge on them.
thanks goldgirl!.. hmms.. just couldn't see a S/R on that... will see what i'm missing..hehe
  • #17,698
  • Jul 14, 2016 10:12pm Jul 14, 2016 10:12pm
Quoting goldgirl
Saw flat price last night at 140ish. Reentered long at 140.27. Hopefully make it through to 144
was hoping that 143 will turn the tide though..... tried to find the top a few times today and got burnt through
  • #17,699
  • Jul 14, 2016 10:22pm Jul 14, 2016 10:22pm
Quoting ins0mnia
{quote} Got about 160 pips over the last hour plus... TP set at 143.0 right below R1. You think it can get above that before a retrace? {image}
Wouldn't be at all surprising, man. Any retraces seem to be bought like crazy. Baby is ripping!
check out my blog: forexmademillionaire dot com
  • #17,700
  • Jul 14, 2016 10:22pm Jul 14, 2016 10:22pm
Quoting AussieForexM
{quote} Hey Geppy! I've been following your blog for some time now and just wanted to say publically that I enjoy reading your posts. Your simple, yet concise rationale / style is refreshing. I'm going to support your operation @ Patreon. Cheers!
Thanks for the kind words, man. Glad to know you find the daily roundups useful.
check out my blog: forexmademillionaire dot com
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