FX:GBPJPY   British Pound/Japanese Yen
10536 37 254
Hi Guys, this is a consolidation after the break of the down trend. Breaking this consolidation looks like a nice buy setup.

Trade with care
Thank you for your support.
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snapshot
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It's crazy how you made this call and the shot up like hell. Amazing
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Nvm I'm thinking of the wrong pair
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i think its a false break out
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Archaicsiman DanielMesa
@DanielMesa, agree
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Fereydoon DanielMesa
@DanielMesa, There is no false on the charts...
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Archaicsiman Fereydoon
@Fereydoon, there is a term false breakout..learn more
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Fereydoon Archaicsiman
@Archaicsiman, I know that but that is a term that the people made up, the chart is made of information how can be a "Fake thing" in there, Every thing in a chart is real and we have to stop giving names to the things that we dont understan but i respect your opinion @Archaicsiman
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Paul_K Fereydoon
@Fereydoon, It doesn't matter how you name it. But false breakout is very important information many traders use every day in successful trading. It just a try to break out of range which hasn't continued. And as you said, it is one of information which creates the chart...
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anilmangal TOP Archaicsiman
@Archaicsiman, and i guess you also believe the bank is out to get your stops ?
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TimStuyts anilmangal
@anilmangal, wave theory, false break-outs etc. are terms existing for decades but who cares. It is like a language, many different languages in this world, existing for so many years but some of them we only understand or hear about in a later stage of our life. As long as we understand each other we are fine. I posted a while ago about the fractal system and how it is so clear for GBPJPY. So far all pullbacks gave me great risk/reward trades. I'm with you on this analysis but I also see a very possible scenario that we test that previous low once again (or the next fractal) as a more complex corrective combination. In terms of banks taking stops, I don't know that term but as a former market maker I can tell that when you got stopped out,you read structure wrong. Because once a trade gets stopped out it simply means structure is invalidated and therefore another structure is the correct structure. if you trade levels without context and place stops accordingly without context, yes stops can be taken out because making a market is based on supply and demand and big orders are hard to fill on a specific level so you trade might be taken out before the market moves in your direction. Anyway thanks for sharing the Yen pairs, they are phenomenal pairs to trade if you ask me. Have a great weekend and safe trades to all of you.
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@TimStuyts, There are many terms out there and I am surprise you never heard of "stops hunting" . What I am saying is we have to question everyone we hear. Just don't repeat something because you heard it ,understands what it means then question if it's valid? I do not look at the stats on the chart as something false (unless it's wick created by your broker). When traders say the market is in a range what they mean is it's making a corrective structure. If you know the different types of corrective structure that exist then you will know that breaking tops or bottoms of the range is actually part of the correction and not false breakout. The saying false breakout is used by trader who have no knowledge of wave patterns.
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TimStuyts anilmangal
@anilmangal, I know what you mean (it was kind of a joke about 'banks' taking stops or false break-outs) because like you say it has nothing to do with structure. I think I made that very clear otherwise I hope I do that now. Don't worry about me, I'm probably the last person fighting you or anyone else about being right or wrong, I'm a trader and in the end the only recognition that's relevant to me is my track-record. I trade structure for 12 years and am glad that thanks to your posts on Tradingview more traders study it and are actually making money instead of giving it to the brokers. Have a nice weekend!
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@Fereydoon, go to eurusd chart and you will find planny !
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alr14uk DanielMesa
@DanielMesa, It hasn't broken out yet
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Let see what do
Thanks ANIL
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it will be a very good trade if it breaks (y) (y)
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@ABDELKARIM, do you mean after the breaks to buy the high?
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ABDELKARIM halimbashery235
@halimbashery235, like i will go for a buy at 140.80
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Mr. Anil what book do you recommend to learn more about wave analysis
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TheWaveTrader KarolPalac
@KarolPalac, the wave principle
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KarolPalac TheWaveTrader
@TheWaveTrader, Thanks
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halimbashery235 TheWaveTrader
@TheWaveTrader, thanks mr anil, what happen to your face? A day without sunlight?
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TheWaveTrader halimbashery235
@halimbashery235, simply just helping someone out because i have asked anil myself , dont be disrespectful
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halimbashery235 TheWaveTrader
@TheWaveTrader, hey dude, are you on period? I don't see how i disrespect you, i wanted to say thanks to mr anil, nothing to do with you, thats all, i think mr anil should increase the contrast of his picture, i only recommend him to do good things, not mean to disrespect him
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Cettex KarolPalac
@KarolPalac, Watch his youtube videos! He explains a lot in his weekly videos and in his youtube videos :)
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Are you not afraid of the consolidation continuing and having a false breakout?
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Hi, GBPJPY has come back to its support area 138.50~139.00. Waiting for a confirmation signal and ready to long it. Thank you and have a great day ahead!
Will GBPJPY form a Reversal Signal at 138.5~139.0 support area?


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lzy2011 jianan.khaw
@jianan.khaw, take your analysis, friend.
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I'm Long @139.004 after the spike to the -27% fib.
Tight SL 138.54/138.394
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RobyTrade RobyTrade
@RobyTrade, very nice trade +100 pips.
Now, for the LONG, we have to look the price action near the 139.5/139.6 zone1 & 139.3 if we want to play 1-2-3 correction & then up.
My pov.
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now what ?
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Thank you Anil, i got in earlier today and it jumped up right after. Take it to the moon boss :)
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lzy2011 RafaelBlanco
@RafaelBlanco, same with me:)
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Possibly more downside?

snapshot

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@JFXtrader, possible or it's deeper pullback before the next up impulse , we will see next week .
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Still has a little dancing to do before the breakout..
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