HamzaLeith
Long

GBPJPY Long setup

FX:GBPJPY   British Pound/Japanese Yen
Idea is based on Elliott wave theory and the use fibonacci extensions. The stochastics are used for wave count confirmation. The rationale behind this set-up is shown on the chart along with specific target/stop loss. Good luck
Yahia.Awes
2 years ago
Hamza, we have a similair view. Only thing is I'm seeing a retrace moment here.
Potential GBPJPY outlook for the coming months
+1 Reply
HamzaLeith Yahia.Awes
2 years ago
I honestly don't believe there is a strong retracement any more, but then that is solely based on my stochastics and the way I use them to identify corrections. Maybe something to challenge your approach: the trend line you have drawn between waves 1 and 3: it is just based on 2 points. To me that is not enough validation,why do you believe price will adhere to that "slope", there isn't enough data sort to speak. Also RSI is yielding overbought..that doesn't always mean a strong retracement is to follow. as for the MACD cross-over, even when the MACD is below the signal line, price can still go higher, it just means the momentum is slowing down. Wishing you many pips
Reply
Yahia.Awes HamzaLeith
2 years ago
I believe it will go up, but first a retrace is likely.
+1 Reply
HamzaLeith Yahia.Awes
2 years ago
snapshot
Reply
Yahia.Awes HamzaLeith
2 years ago
This is GBPNZD you reply with?
Reply
HamzaLeith Yahia.Awes
2 years ago
sorry wrong idea
Reply
Yahia.Awes HamzaLeith
2 years ago
No problem :)
Reply
amoldeokar75
2 years ago
What r these boxes in price chart?
Reply
shevectorie
a year ago
Very good analysis.
Reply
HamzaLeith shevectorie
a year ago
thank you
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out