Technician
Long

#GBPJPY: Long on Triple Bottom Breakout | #forex

FX:GBPJPY   British Pound/Japanese Yen
2741 44 24
Update: Trade is active
Update(25 Feb): I moved stop loss to break-even
Update: Stopped at break-even :|

---------------------------------------------------------------------------------------------------------------------------------------------------------
Today's selloff was re-bought quickly, indicating renewed demand at lower levels, and that comes after the completion of a triple bottom bullish formation at the 200 days SMA , and a breakout above the 50-days SMA .

The main near term resistance is at the falling trend line now, we might see some intraday downside pressures where i will be looking to long a bit lower due to money management reasons.

You might noticed that this is not typical trade for me, as it has a wider target and stop loss compared to my usual trade. I am trying to be bolder and more aggressive here ;)

Be one of the first members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you

Good luck, keep your stops tight..
https://twitter.com/thefxchannel
https://www.facebook.com/thefxchannel
https://plus.google.com/%2BThefxchannel0
My best regards
Technician
My trading ideas channel https://telegram.me/technician_forex_trades

Get your gift : https://thefxchannel.com

Skype: Technician - The forex channel
You beat me to this. Was about to post this similar idea. :)
+1 Reply
hehe, sorry for that :)
-1 Reply
Casey_Yeo Technician
just curious...won't you take into consideration BOJ's view yesterday?
Reply
I think everything is already reflected in price.
-1 Reply
What the rule on inside pin bars, don't they usually get filled ?
Reply
am not sure if i get you, where is the inside bar?
-1 Reply
vdubus PRO Technician
Not sure the correct name - upside down hammer
Reply
Yep this is a hanging man my friend
-1 Reply
Technician TOP Technician
In my view, it has a bearish implication if the price takes the low of the candle, otherwise the uptrend remains favored
-1 Reply
vdubus PRO Technician
looking at the 4 hr price has broke its up trend but your suggested entry look spot on
snapshot
+1 Reply
Would love a close above 184.20
+1 Reply
AristotelCostel carlos.sanchezbueno.3
That's the only safe long entry. If 184,2 is not reach, Short Entry 182,57, TP: 173,22-173,85.
Reply
I think its bearish...I see hidden divergence in RSI,STOC and ROC and on MACD continuation of main near resistance as you noticed...Also the combination of a hanging man at top of resistance makes me more bearish...i might be wrong though..:)
+1 Reply
Bearish Trend line is holding, price at an interesting level.
Reply
Nice rejection today, lets see if its maintained
-1 Reply
Trade remains active
-1 Reply
i am in now, thanks Technician for sharing the idea.
Reply
anytime, and good luck
-1 Reply
vila Technician
Hello all traders, I'm new here, please comment. There's my idea, I see 1) Mother bar + IB and break of MB IB, 2 ) several Pull back to first MB high + Trend line and then again MB IB and PB but not normal PB, it's a major fakey. This kind of pattern is very powerful, I will be long after 183.30 and my target 187.40 (138 Fibo). Have a nice WE. https://charts.mql5.com/7/69/gbpjpy-d1-axicorp-financial-services.png
Reply
Agree, you could use tradingview charts for easier posting.. good luck
-1 Reply
vila Technician
Thanks for reply, but I don't know how to use it
Reply
Oh, just try, its the simplest yet most powerful
-1 Reply
vila Technician
Thanks
Reply
vila vila
Correction : I will be long after 184.30 and non 183.30


Reply
and now we have a clear key range
snapshot
Reply
Common mate, break the hell out of that resistance ;)
-1 Reply
vila Technician
Very soon
Reply
vila vila
I'm long, first target 187, lets see
Reply
welcome mate
-1 Reply
vila Technician
Didn't wait 184.30, I'm long from the PB fakey nose at 183.81, good Luck
Reply
Looking good at last :)
Reply
No doubt Trade is going so well so far :)
Reply
Mates I moved stop loss to break-even
-1 Reply
vila Technician
We are just below the gap from 2 January
Reply
vila vila
There is my idea for G/J
https://www.tradingview.com/e/wSJpGBhr/
Reply
I need a closing above the shooting star candle now
-1 Reply
vila Technician
In 4h we have 184.90, 4 pips above, I know isn't enough
Reply
Daily close above that tail is important.
-1 Reply
vila Casey_Yeo
I'm still in this trade. When I trade with the trend, I usually have a wide SL (180.49 in this case). I have added another position this morning at 183.52, Target 1 : 187, target 2 : 189

Good luck
Reply
Lucky you.
-1 Reply
Good for you mate.
-1 Reply
vila Casey_Yeo
We will see if I'm Lucky, for moment we have to pass 185, If not......
Reply
:), wish you luck mate.
-1 Reply
vila Technician
Thanks I need!!
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out