JosePips
Short

GBPJPY POTENTIAL SHORT (1D & 4H)

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY POTENTIAL SHORT

When I had done my pre-market analysis this weekend I wasn't seeing anything that had showed me it could be a high probable trading setup. After watching some liquidity come into the market GBPJPY had caught my attention. GBPJPY is at structure highs on the 1D timeframe and has been showing strong signs of buyer exhaustion and seller strength/control. If you look at the 4H timeframe you can see every push up by the buyer is followed by a very strong push down by the seller. This indicates that the buyers are dying out and the sellers are taking control. It is failing to make new highs and is being followed by strong seller momentum. By the market doing so it shows me that the sellers are interested in selling price and the buyers are dying out. REMEMBER TO ALWAYS LET TO MARKET TELL YOU WHAT IT WANTS TO DO, NEVER TELL THE MARKET. At the end of the day if you want to be trading profitable, and probable setups you have to flow with what the market is telling you. So lets dive into this.

1D Chart:
*price is sitting at very significant structure around the 148.00 handle
*buyers have attempted to re-test highs but sellers smack down price with strength (showing control)
*buyer is dying out ( bearish engulfing candle)

4H Chart:
*on this timeframe chart at the highs buyers are followed by stronger seller momentum (control)
*watch for a break and hold beneath the 4H ascending trend-line, so that all participants are on the same page (equating to larger move)
*watch for slight small weak reaction at trend line , break beneath, and a small re-test before dropping (if it does)

1H Chart:
*use this chart for precise entry based on momentum, structure, and good risk/reward

Keep an eye out! Cheers!

Please like and follow my page for more high probable trade setups!
Oct 09
Comment: We have been seeing some buyer momentum from the trend line. So far market isn't displaying enough seller momentum to look for a short at the moment. Keep an eye out.
Oct 09
Comment: GJ seems to be ranging on the 4H timeframe. The market has been showing me greater strength by the sellers in the range. BUT that does not necessarily mean it will drop. Keep an eye out, wait for a breakout or fakeout and lets only trade what the market shows us is a high probable setup. Cheers! Keep an eye out.
Oct 12
Comment: GBPJPY broke below the ascending trend line on the 4H. Look to short on weak pullback or seller strength of continuation. Cheers!
Oct 18
Comment: Short is active in 100 pips profit. 200 pips to go before Target 1 is hit! Cheers!
Oct 24
Trade closed: target reached: Target 1 was hit! Move 50% of positions to 50 pips profit and aim for target 2! Congrats! On to the next one. Please like and follow my page for more trade setups!
Oct 26
Trade closed: target reached: Target 2 was hit. Congrats for all who took the trade. On to the next one !
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out