lewglasgow
Short

GBP/JPY - Trend Reversal

FX:GBPJPY   British Pound/Japanese Yen
Today we have one for the trend traders on a Weekly chart with GBP/JPY             .

Straight away you can see price has broke the lows of 2015 and 2014, continuing down into the 155.000 area before retracing. We are now trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.

I'll be going into the lower time-frames for additional analysis, there is a lot of picture perfect setups already including a head and shoulders on the 4h chart.
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Lewis Glasgow, Creator of Six Figure Capital.
FXGOOGLE
8 months ago
Brilliant analysis.... By the way, I didn't notice the head and shoulder on the 4h chart. Good call! I had a trendline which confluence with the 61.8 fib level... Should be expecting a few pips rally then a dip to the downside.

This is my analysis.. Let me know what your thoughts are
snapshot
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lewglasgow PRO FXGOOGLE
8 months ago
Just noticed it earlier today but never posted as analysis, thanks for pointing out the trendline.. Touch that to complete the right shoulder then drop like a pin!
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FXGOOGLE lewglasgow
8 months ago
Yes that's what I'm expecting... Hopefully it plays out like that
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lewglasgow PRO FXGOOGLE
8 months ago
We'll see :) at least we are finally getting some good setups
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FXGOOGLE lewglasgow
8 months ago
This should be good for this week trading
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ShahidKhan
8 months ago
very nice trick to sell 100% satisfied
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lewglasgow PRO ShahidKhan
8 months ago
Thank you I appreciate that!
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sam.aziz
8 months ago
That is exactly how I am seeing it. Am I the only one who saw the gap down??!! I also see more traders looking to get long than short and that is another indicator that the price is going down. Thank you for sharing
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lewglasgow PRO sam.aziz
8 months ago
Sometimes you need to go into the longer time-frames to see where price is actually going, I never noticed until now lol. Thank you for commenting :)
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sam.aziz lewglasgow
8 months ago
Always nice to communicate with others. I have been short this thing from right under 161.00 and it has been holding for soooooo long. But I think this is just looking to drop like a rock. The gap has been covered too so it is time for this thing to move into the 150.00s.
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lewglasgow PRO sam.aziz
8 months ago
Good to see another view on a chart, sometimes you miss the small details. Well it certainly dropped this morning :)
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sam.aziz lewglasgow
8 months ago
Loving it and I was in the money, I took the money then I am looking for another opportunity to short again
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jangseohee
8 months ago
snapshot

it drop more than it did ^_^
time to go up
snapshot
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lewglasgow PRO jangseohee
8 months ago
Totally agree with you, once price hits our resistance we should see a massive move to the downside.
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devicemxl
8 months ago
an extreme, fast maked setup:
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lewglasgow PRO devicemxl
8 months ago
Exactly what I was thinking, got a head and shoulders on the 4h which links up perfectly with this analysis
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jangseohee
8 months ago
snapshot

snapshot
+1 Reply
lewglasgow PRO jangseohee
8 months ago
Never noticed this, thanks for the share!
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jangseohee jangseohee
8 months ago
apologize, broken post
you are welcome
i start from big forest pic
snapshot
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lewglasgow PRO jangseohee
8 months ago
Solid analysis, it's always good having multiple views of the same currency pair!
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