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Geppy's Geppy Thread (GBP/JPY)

  • #17,961
  • Jul 21, 2016 6:40am Jul 21, 2016 6:40am
Quoting goldgirl
Small lot test on short 142.15 . TP1 140.61 . SL 142.5
Nice move
God, i love, how i'm trade!!!
  • #17,962
  • Jul 21, 2016 9:43am Jul 21, 2016 9:43am
Well, I got burned on retail sales last night. Sucks. But happens.

Really starting to look like this move higher has now failed at ~142

The daily chart is looking increasingly stretched in its ability to go higher. Anyone else thinking the same or still thinking long?
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  • #17,963
  • Jul 21, 2016 9:54am Jul 21, 2016 9:54am
Definitely looking like a bear flag forming on the H1 chart running along the ascending trend line of the channel. Weak retail figures and Japan running out of ammo would suggest to me this is going down down down.
  • #17,964
  • Jul 21, 2016 9:59am Jul 21, 2016 9:59am
Quoting fxtrader18
Definitely looking like a bear flag forming on the H1 chart running along the ascending trend line of the channel. Weak retail figures and Japan running out of ammo would suggest to me this is going down down down.
Yeah I'm seeing that too. Selling a bit, but not getting too carried away on it.
check out my blog: forexmademillionaire dot com
  • #17,965
  • Jul 21, 2016 10:22am Jul 21, 2016 10:22am
Quoting Geppy
Well, I got burned on retail sales last night. Sucks. But happens. Really starting to look like this move higher has now failed at ~142 The daily chart is looking increasingly stretched in its ability to go higher. Anyone else thinking the same or still thinking long?
I think the action is finished on this week. Real action will start on next week and it will be a bearish trand. I think in the end it well form "head and shoulders" on daily timeframe.
God, i love, how i'm trade!!!
  • #17,966
  • Jul 21, 2016 10:23am Jul 21, 2016 10:23am
Quoting Geppy
Well, I got burned on retail sales last night. Sucks. But happens. Really starting to look like this move higher has now failed at ~142 The daily chart is looking increasingly stretched in its ability to go higher. Anyone else thinking the same or still thinking long?
I agree, my key area of support was broken, 140.50/80 therefore I'm now looking to sell provided 140.75 holds as resistance.
I'm also selling a small a little and see where it decides to go
Just my 2 cents worth
  • #17,967
  • Jul 21, 2016 10:38am Jul 21, 2016 10:38am
Quoting FxBreath
{quote} Nice move
Yeah, out of my expectation for a 200 pips run in just 1 hr
  • #17,968
  • Jul 21, 2016 10:42am Jul 21, 2016 10:42am
Quoting FxBreath
closed my position at 142.12, only 29 pips under my target. In the end I made 291 pips and finished my trading on this week.
Great! Your long target TP were quite close. It was 142.39, just 1 pip different from 142.40.
  • #17,969
  • Jul 21, 2016 10:44am Jul 21, 2016 10:44am
Quoting Geppy
Well, I got burned on retail sales last night. Sucks. But happens. Really starting to look like this move higher has now failed at ~142 The daily chart is looking increasingly stretched in its ability to go higher. Anyone else thinking the same or still thinking long?
Hi pal, guess another leg down before it goes higher. I am looking at 136-133.
  • #17,970
  • Jul 21, 2016 10:47am Jul 21, 2016 10:47am
Quoting Guy Mann
{quote} Nice
Price was too swingy. At last, we see a clear direction on this Thursday.
  • #17,971
  • Jul 21, 2016 11:23am Jul 21, 2016 11:23am
I am thinking long term GJ is on a slow push up for some time.
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  • #17,972
  • Jul 21, 2016 11:28am Jul 21, 2016 11:28am
Quoting musabdalla
I am thinking long term GJ is on a slow push up for some time. {image}
Yes, there are definitely some trendlines to get through if we're to really go lower. The best thing to do in this market is to simply look for smaller targets (100-200 pips) until we see a sustainable breakout.
check out my blog: forexmademillionaire dot com
  • #17,973
  • Edited 1:00pm Jul 21, 2016 11:37am | Edited 1:00pm
Attached Image (click to enlarge)
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Distribution
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  • #17,974
  • Jul 21, 2016 11:48am Jul 21, 2016 11:48am
Quoting Geppy
{quote} Yes, there are definitely some trendlines to get through if we're to really go lower. The best thing to do in this market is to simply look for smaller targets (100-200 pips) until we see a sustainable breakout.
Definitely take it step by step now but I have noticed one thing with GJ it will have a week where its bouncing like this in short its just setting up then the next 2 or 3 weeks it will just fly up or just drop massively
  • #17,975
  • Jul 21, 2016 12:19pm Jul 21, 2016 12:19pm
Quoting goldgirl
{quote} Great! Your long target TP were quite close. It was 142.39, just 1 pip different from 142.40.
Yeah, it was very close. This always happen to me. Anyway next week will be better.
God, i love, how i'm trade!!!
  • #17,976
  • Jul 21, 2016 12:22pm Jul 21, 2016 12:22pm
Quoting goldgirl
{quote} Hi pal, guess another leg down before it goes higher. I am looking at 136-133.
I would probably say 134.50-135
God, i love, how i'm trade!!!
  • #17,977
  • Edited 1:37pm Jul 21, 2016 1:26pm | Edited 1:37pm
Hey all. Long time follower and big fan of you Geppy.

Purely off structure, I see a symmetrical triangle on the 4h. For a breakout long, it would need to break the weekly atr(20) and the 200 sma. Also, traditionally hasn't QE with the jpy often led to more jpy long?
  • #17,978
  • Jul 21, 2016 3:53pm Jul 21, 2016 3:53pm
Quoting JMichael
Hey all. Long time follower and big fan of you Geppy. Purely off structure, I see a symmetrical triangle on the 4h. For a breakout long, it would need to break the weekly atr(20) and the 200 sma. Also, traditionally hasn't QE with the jpy often led to more jpy long?
Thanks for the shoutout, JMichael.

Here are my thoughts on our six pairs for the day: http://www.forexmademillionaire.com/...undup-7212016/

Slight change in my view on GBP/JPY
check out my blog: forexmademillionaire dot com
  • #17,979
  • Jul 21, 2016 4:53pm Jul 21, 2016 4:53pm
Just saw this via ForexLive:

http://news.forexlive.com/!/nikkei-r...n-yen-20160721

Seems to me a bit like grasping at straws now. Almost like they're setting themselves up to disappoint the market if it comes in at anything less.

Regardless, that's why we're seeing the sudden rally in USD/JPY
check out my blog: forexmademillionaire dot com
  • #17,980
  • Jul 21, 2016 4:55pm Jul 21, 2016 4:55pm
10, 20 and now 30.... I can see this not going to plan for them.
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