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Geppy's Geppy Thread (GBP/JPY)

  • #18,141
  • Jul 29, 2016 6:56am Jul 29, 2016 6:56am
Quoting Guy Mann
{quote} Awesome, now it just needs to get to my TP {image}
hellu GM, what do u think of GJ, is it goin to the 134.xx ?
  • #18,142
  • Jul 29, 2016 7:30am Jul 29, 2016 7:30am
GBP JPY has to firstly pass channel resistance at 135,5 on actual h4, if this will happen then we may continue even lower
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  • #18,143
  • Jul 29, 2016 7:55am Jul 29, 2016 7:55am
Quoting RomanBubenik
GBP JPY has to firstly pass channel resistance at 135,5 on actual h4, if this will happen then we may continue even lower {image}
and yes it will pass, how i know? its classified
  • #18,144
  • Jul 29, 2016 9:19am Jul 29, 2016 9:19am
Just woke up. Downside is looking good, gang. Hope everyone is making green pips!
check out my blog: forexmademillionaire dot com
  • #18,145
  • Jul 29, 2016 9:35am Jul 29, 2016 9:35am
Quoting Geppy
Just woke up. Downside is looking good, gang. Hope everyone is making green pips!
Hey, I see you are holding usdcad long's, what is your plan?

Green pips!
  • #18,146
  • Jul 29, 2016 9:41am Jul 29, 2016 9:41am
Quoting Raa
{quote} Hey, I see you are holding usdcad long's, what is your plan? Green pips!
Plan is to continue holding. It's setting up for a swing trade. Been blogging about it all week.
check out my blog: forexmademillionaire dot com
  • #18,147
  • Jul 29, 2016 11:27am Jul 29, 2016 11:27am
Quoting goldgirl
{quote} Cool move! I missed it. I was sleeping at that time. Well, last night din't manage to exit my short as it spiked up in NY time. Right now 200 pips in profit already.
Exit my short at 135.3. May go lower but need to catch some sleep. Good night all..
  • #18,148
  • Jul 29, 2016 11:29am Jul 29, 2016 11:29am
Quoting Geppy
{quote} Plan is to continue holding. It's setting up for a swing trade. Been blogging about it all week.
Me too since 1.28++ . Target 1.3350
  • #18,149
  • Jul 29, 2016 11:31am Jul 29, 2016 11:31am
Quoting RomanBubenik
GBP JPY has to firstly pass channel resistance at 135,5 on actual h4, if this will happen then we may continue even lower {image}
Great. Expect more low to go.
  • #18,150
  • Jul 29, 2016 11:34am Jul 29, 2016 11:34am
Quoting goldgirl
{quote} Me too since 1.28++ . Target 1.3350
Nice entry on that. I'm underwater on mine, but I'm ok with it.

You have to take moves today with a grain of salt. It's month-end, so flows are crazy.

There's also a 15% tax going into affect in Vancouver for foreign buyers of real estate on Monday. So there's a rush to buy houses before then... which adds to the demand for Canadian dollars.
check out my blog: forexmademillionaire dot com
  • #18,151
  • Jul 29, 2016 11:37am Jul 29, 2016 11:37am
Quoting goldgirl
{quote} Great. Expect more low to go.
I saw you closed at 135,3, congratz ..But i let my trades open with tp at 133,8 and put SL now at 136,3 (320 pips already)
  • #18,152
  • Jul 29, 2016 12:12pm Jul 29, 2016 12:12pm
Quoting yuddy
{quote} hellu GM, what do u think of GJ, is it goin to the 134.xx ?
Hi yuddy, I have my target set at 134.50, that's good enough for me. I'll then look for more entry levels
Just my 2 cents worth
  • #18,153
  • Jul 29, 2016 12:45pm Jul 29, 2016 12:45pm
Out of my shorts. I think we'll head lower, but the move today is feeling tired. I'll look to re-enter next week.

Hope everyone has a great weekend!
check out my blog: forexmademillionaire dot com
  • #18,154
  • Jul 29, 2016 1:48pm Jul 29, 2016 1:48pm
Quoting Guy Mann
{quote} Hi yuddy, I have my target set at 134.50, that's good enough for me. I'll then look for more entry levels
I have decided to move my sl right down to 135.20 so either it closes me out or I get my tp with a late drop but I prefer not to hold over the weekend.

Have a great weekend
Just my 2 cents worth
  • #18,155
  • Jul 29, 2016 2:37pm Jul 29, 2016 2:37pm
Quoting Geppy
Out of my shorts. I think we'll head lower, but the move today is feeling tired. I'll look to re-enter next week. Hope everyone has a great weekend!
I've been a silent observer on the Geppy vs GJScalper thread (which is dead now cos a player can't be a referee) for a while now, but I have to comment this time.

Why on God's green earth are you still holding onto the USDCAD?? Even the 4H says Nah. SL? It could take months to go back to that level now you know? I'm no pro so I need enlightenment.
  • #18,156
  • Jul 29, 2016 3:18pm Jul 29, 2016 3:18pm
Quoting sinqua
{quote} I've been a silent observer on the Geppy vs GJScalper thread (which is dead now cos a player can't be a referee) for a while now, but I have to comment this time. Why on God's green earth are you still holding onto the USDCAD?? Even the 4H says Nah. SL? It could take months to go back to that level now you know? I'm no pro so I need enlightenment.
hey sinqua, I'll have a lot more detail on Sunday when I write my weekly outlook. And I don't like mixing USD/CAD in here with a thread that's focused on GBP/JPY, but here are some quick bullets:

 

  1. The 4-hour is still in an uptrend. The 50/100/200 SMA's are all pointing higher and price was supported today by the 200 SMA
  2. Oil has been dropping, Saudi Arabia's crude oil production has actually started going UP again, rig counts are heading higher, and summer is ending which is notorious for falling demand since the "summer driving" season is over. All of this adds up to more production and less demand. We all remember econ 101, right? More supply and less demand means lower prices for crude. That's bullish for USD/CAD
  3. ForexLive had this interesting blurb about the demand for Canadian dollars today. Basically, it's likely temporary.

So those are the main reasons I'm staying long.

Months to go back to my entry level? I highly doubt it. My average entry is 1.3164 -- that's less than 120 pips away from current price.

I get it, to non-swing traders that seems crazy. But you need to realize I'm not targeting a handful of pips here. I'm looking at this trade going to 1.4000 or even 1.4500 or higher than that.

If oil starts falling again, and it likely will, the Canadian economy will be in trouble. That'd likely put a rate cut on the table.

In short, I'm looking big picture here... that's not something you see a lot of on FF so I understand why my trade would look concerning.

check out my blog: forexmademillionaire dot com
  • #18,157
  • Jul 29, 2016 4:06pm Jul 29, 2016 4:06pm
Quoting Geppy
{quote} hey sinqua, I'll have a lot more detail on Sunday when I write my weekly outlook. And I don't like mixing USD/CAD in here with a thread that's focused on GBP/JPY, but here are some quick bullets: The 4-hour is still in an uptrend. The 50/100/200 SMA's are all pointing... If oil starts falling again, and it likely will, the Canadian economy will be in trouble. That'd likely put a rate cut on the table. In short, I'm looking big picture here... that's not something you see a lot of on FF so I understand why my trade would look concerning.
Valid fundamental argument, not a fan of technical indicators anymore so I take the SMA's with a pinch of salt. Will be watching this and yours progress through the year. GBPJPY is a lady that has always danced fiercely, All the best.
  • #18,158
  • Jul 29, 2016 6:13pm Jul 29, 2016 6:13pm
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anyone see this spike on GBP/????
Is this a glitch or real?
  • #18,159
  • Jul 30, 2016 12:21pm Jul 30, 2016 12:21pm
Quoting aarontdang
{image}{image}{image}{image}{image}{image}{image}{image}anyone see this spike on GBP/???? Is this a glitch or real?
Glitch. I wouldn't put too much stock in xe.com's quotes until about an hour before the week's open.
check out my blog: forexmademillionaire dot com
  • #18,160
  • Jul 30, 2016 10:03pm Jul 30, 2016 10:03pm
Quoting Geppy
{quote} Nice entry on that. I'm underwater on mine, but I'm ok with it. You have to take moves today with a grain of salt. It's month-end, so flows are crazy. There's also a 15% tax going into affect in Vancouver for foreign buyers of real estate on Monday. So there's a rush to buy houses before then... which adds to the demand for Canadian dollars.
Noted for that. Erm.. maybe I take 50% profit out and shall add more if USDCAD dive upon retracement. Anyway, oil price is going to fall more. Canada debt is big. Eventually it will get to 1.3350 .
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