IvanLabrie
Short

GBPJPY: Waiting for the perfect short

FX:GBPJPY   British Pound/Japanese Yen
404 32 14
As the title describes, I'll publish a suggested short entry once my setup confirms.
For the time being observe the price action and how the selling is outweighing the buying on each swing.
This is inherently bearish , and to make things worse for the bulls, Tim West's proprietary indicator RgMov is plotting new lows and a strong downtrend on the daily chart , ahead of price which is currently ranging. The weekly chart shows intense coiling, which will eventually lead to an explosive move to the down side.
I'll update the chart with entry, exit and stop loss values once it confirms.
Cheers,
Ivan.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
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HI jivan I think some have increas to 180 before decline
GBPJPY60
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jangseohee
2 years ago
currently in triangle, but price has been pushed out of the daily channel support cliff
the next bar will determine whether there is follow through, by then the risk get higher..
if this evening star staying at day end, there is more chance of going down and up
potential target 175.613, followed by 171.xx
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For my buddy jangseohee:

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This one might actually work... :)
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jangseohee IvanLabrie
2 years ago
so price fooling around below neckline, another big red bar will seal the FATE :-)
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IvanLabrie PRO jangseohee
2 years ago
I don't use H&S but this one's a serious one...
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jangseohee IvanLabrie
2 years ago
if it is serious enough that you cant ignore it, it is death serious
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IvanLabrie PRO jangseohee
2 years ago
Heh, I use other methods, right now my bias is bear until proven wrong.
Waiting for a perfect entry.
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For the record, 8 bearish weeks vs 4 and 4 bullish and neutral ones...sellers are in ontrol.
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GcNaif MOD
2 years ago
i think 176 is the next stop for this train.
Short to grab some pips on CD leg of potential (ABCD n Gartley)
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IvanLabrie PRO GcNaif
2 years ago
Definitely!
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Short term target:

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Need today's bar to be below the yellow line until the close to confirm the entry.
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Entry after the close today.
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I will sell market now, stop above the 178.726 level. 1.25% risk, leaving 1.25% free in case price retraces a bit.
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EW analysis of the current leg down. Definitely impulsive, and looks to have a b wave in the 4th position, which overshoots wave 3's low, culminating in a triangle, so I expect a wave 5 decline. (this can be wave 1 of a larger degree naturally)
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IvanLabrie PRO IvanLabrie
2 years ago
Currently working very well...let's see how it evolves.
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IvanLabrie PRO IvanLabrie
2 years ago
After the 4th wave limiting triangle, price completed wave 5, and more or less when wave 5 reached the same size as wave 1 it reversed sharply.
I covered 70% at the lows, and left the rest to run with a break even stop.
Stopped out and waiting for a new opportunity on the short side next week.
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Covered 70%, moved stops to BE.
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GcNaif MOD IvanLabrie
2 years ago
thats a good birthday present(pips) to you.
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IvanLabrie PRO GcNaif
2 years ago
Indeed!

I'll let this run, I don't think the decline's complete.
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Same as AUDJPY, monitor this one for a short after this week's action.
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Watching for an entry short.
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Perfect short is here, if you look at the daily chart, you'll see how price moved away from the fair value area I've drawn in my charts.
I jumped the gun and market sold, and also have a retracement scale in order ready.
Can be a 500 to 11000 pip move.
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IvanLabrie PRO IvanLabrie
2 years ago
1100*
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IvanLabrie PRO IvanLabrie
2 years ago
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GcNaif MOD IvanLabrie
2 years ago
lovely its moving as planned . great work Ivan
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Potential top is in. Time expired after target exceeded in the last time at mode uptrend signal.
Looks like wave 1 extended, leaving us with smaller waves 3 and 5, with the 5th having to be smaller or equal to the 3rd as a requirement for this scenario to be valid.
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EURUSD still in a corrective structure
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IvanLabrie PRO IvanLabrie
2 years ago
Whoops, wrong clipboard data...haha.

Was trying to post this:

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IvanLabrie PRO IvanLabrie
2 years ago
0 rush to cover my short.
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