IvanLabrie
Short

GBPJPY: Waiting for the perfect short

FX:GBPJPY   British Pound/Japanese Yen
404 32 16
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.
HI jivan I think some have increas to 180 before decline
GBPJPY60
Reply
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
snapshot
Reply
For my buddy jangseohee:

snapshot


This one might actually work... :)
+1 Reply
jangseohee IvanLabrie
so price fooling around below neckline, another big red bar will seal the FATE :-)
Reply
IvanLabrie PRO jangseohee
I don't use H&S but this one's a serious one...
Reply
jangseohee IvanLabrie
if it is serious enough that you cant ignore it, it is death serious
+1 Reply
IvanLabrie PRO jangseohee
Heh, I use other methods, right now my bias is bear until proven wrong.
Waiting for a perfect entry.
Reply
For the record, 8 bearish weeks vs 4 and 4 bullish and neutral ones...sellers are in ontrol.
+2 Reply
i think 176 is the next stop for this train.
Short to grab some pips on CD leg of potential (ABCD n Gartley)
+1 Reply
Definitely!
Reply
Short term target:

snapshot


Need today's bar to be below the yellow line until the close to confirm the entry.
Reply
snapshot

Entry after the close today.
Reply
I will sell market now, stop above the 178.726 level. 1.25% risk, leaving 1.25% free in case price retraces a bit.
Reply
snapshot


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)
Reply
IvanLabrie PRO IvanLabrie
Currently working very well...let's see how it evolves.
Reply
IvanLabrie PRO IvanLabrie
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.
Reply
Covered 70%, moved stops to BE.
Reply
GcNaif MOD IvanLabrie
thats a good birthday present(pips) to you.
Reply
Indeed!

I'll let this run, I don't think the decline's complete.
Reply
Same as AUDJPY, monitor this one for a short after this week's action.
+1 Reply
Watching for an entry short.
+1 Reply
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.
Reply
IvanLabrie PRO IvanLabrie
1100*
Reply
IvanLabrie PRO IvanLabrie
snapshot
+1 Reply
GcNaif MOD IvanLabrie
lovely its moving as planned . great work Ivan
+1 Reply
snapshot


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.
+1 Reply
IvanLabrie PRO IvanLabrie
Whoops, wrong clipboard data...haha.

Was trying to post this:

snapshot
+1 Reply
IvanLabrie PRO IvanLabrie
0 rush to cover my short.
+1 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