UJ will have a temporary bounce downwards, but it will move up. We've tested major supports for both the UJ and GJ on the 4hr chart, and the thing's not going south of that support prior to D-day (Friday). So we'll probably see EU go down, since UJ ...

EURUSD

Nice SL. You won't hurt yourself much if you end up catching a falling knife. Still, I don't think you can get much out of that given that bullish movement have been re-established with the successful defense of 117, so best of luck to you on ...

USD/JPY Discussion

Closing longs that early? I'm guessing you're going to scalp the yen pairs, then? I'm personally aiming for 178.60 before any significant corrections occur, especially since there doesn't seem to be enough time for the pair to fall through 175.70 ...

Dragon Riders GBP/JPY

News is from Markit. Markit news often get priced in before the official announcement (it's done by a private organization, not gov.). Also, Other gbp pairs like gbp/jpy are testing resistances, so it holds the pound sterling overall at bay.

Cable Update (GBPUSD)

Nothing really worth seeing here. Just range trading in a tight zone. I'll be back when we actually go somewhere (1.13 or 1.136) Planned shorts at 1.14.

EURUSD

U.K. construction PMI did better than expected, but we haven't seen much of a spike. 3 things I suppose. It could be that 176.20 is a much stronger resistance than expected, and since we were dancing on 176.30/20 right before the news, we might need ...

Dragon Riders GBP/JPY

We briefly hit 175.50. I wonder what that means..

Geppy's Geppy Thread (GBP/JPY)

Given that it's the geppy we're talking about (one of the most volatile pairs in forex), I can't imagine that a single pip below previous price would invalidate the entire wave altogether. I'm sorry, but since market volatility often causes price to ...

Geppy's Geppy Thread (GBP/JPY)

Well, it was a bit later than optimal, but still within my prediction. Right on the 11th hour-literally. We hit 175.70 one hour before Tuesday began (11:03pm EST). Still Technically Monday, though. Took a long at 175.780. TP at 178.60 Now let's see ...

Dragon Riders GBP/JPY

Not at all; thanks for taking the time to explain. But in your own words, the next move down ONLY "is not allowed to move past the previous low." As long as it hits the exact same area and pops back up, doesn't that mean it's still valid? *not: I ...

Geppy's Geppy Thread (GBP/JPY)

Why shouldn't 175.70 be touched? I don't see a fundamental reason for merely touching it to be a death sentence for short term bullish movement also, the Aussies cut the cash rate. USD will strengthen, so wem ight see a rise in gbp/jpy and usd/jpy. ...

Geppy's Geppy Thread (GBP/JPY)

175.70 keeps getting cockblocked by the fib support just above it (176.20/00). We're going to test 175.70; market movements have shown that while we're stalling at 176.20, there isn't enough momentum to push back to the top of the daily range. So ...

Dragon Riders GBP/JPY

I have a more immediate question: When ARE we going to test 175.70? It's been pounding 176.20/00 for the third time in the past 4 trading days. And it's not as though it wants to go up; if it was a bouncing back to the top of the trading range, I'd ...

Geppy's Geppy Thread (GBP/JPY)

This....is the closest thing to the holy grail that I've ever seen or heard. Beautiful. And to all viewers: yes, this system works 99.9% of the time. The only instance it wouldn't work is if we suddenly have a moment of absurd levels of volatility ...

AMAZING Strategy!!!

Ah, the yearly chart. If only I had a few ten thousand dollars more in my account. I'd just buy one lot right here, keep adding on the lowers, and leave it for the next 3 months. Guaranteed profit in the thousands if not tens of thousands. Sadly, I ...

Geppy's Geppy Thread (GBP/JPY)

Join the group, my friend. I also TPed on my shorts too early (Price jumped past 177.48) and lost nearly half my potential profits.

Dragon Riders GBP/JPY

Agreed, but you should be wary about potential bounces from 175/174.70, and definitely from 173. I don't know how big they'll bounce though, but I wouldn't but a retest of 175.70 out of the question.

Dragon Riders GBP/JPY

I'd be careful about all longs. The price seems interesting in bringing bull traps, just like the previous 176.20 bounce. I don't expect to reach beyond 177.70/50 if the price is planning on breaching 175.70 at last. I'll also take a long, but I ...

Geppy's Geppy Thread (GBP/JPY)

You misunderstood me. I meant that BOTH the usd/jpy and gbp/jpy tend to be inversely related to the uer/usd. More often than not, usd/jpy and gbp/jpy move hand in hand, with the gbp/jpy being more exaggerated in total price movements.

EURUSD

Agreed. the western yen pairs (gbp/jpy, usd/jpy) also look erratic, and given that their prices are inversely related, I'm opting on the sidelines right now. But seriously, why is the price so hesitant? We don't have the major news for USD until ...

EURUSD