Dani0
Long

GBP/JPY 4HR VIEW HUGE INCOMING BREAKOUT 4K+ PIPS

FX:GBPJPY   British Pound / Japanese Yen
As you can see in this 4 hour view, market is forming a pennant / falling wedge , this happens to be a breakout to the upside so i expect market to breakout on top.

Not mentioned in the video is the fact that market is currently forming a rectangle channel within the pattern formation and this is a sign of breakout soon to occur, highly expect a breakout this week.

Using support and resistance areas you should be able to work out a good buy in/exit spots buy simply looking at market history. I have worked out that this market should give atleast 4000 pips (a potential 5000 pips) if bought at the bottom/ support area before breakout.

This way you learn while you trade and know how to spot patterns and how to outline them and workout your entry and exit positions.

SPOTTING PATTERNS IN MARKET:

https://cdn-images-1.medium.com/max/1600...
https://pbs.twimg.com/media/DCwzkfyV0AA0...

HELPFUL VIDEO TO TEACH YOU HOW TO TRADE:

https://www.youtube.com/watch?v=rNI166nM...
https://www.youtube.com/watch?v=v-Cz_LUs...


DISCLAIMER;
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.

All comments and questions welcome, if curious about indicators I use then feel free to inquire. IF YOU SUPPORT MY IDEAS THEN DO LIKE, FOLLOW & SHARE. ~ THANKS! ~
Comment: Have a buy order at 142.800, has the potential to fall to 142.500 but this is not guaranteed and if it does happen i am able to wait out that downside negative before reaping the major upside that will follow. My take profit is currently at 148.000, though this is not fixed hence may change my take profit zone upon further developments :)

Comments

great post!
+1 Reply
Dani0 UBESTBEWARE
@UBESTBEWARE, Thanks! :)
Reply
i also analysed and i think it will rise to 147.70 level . and i took my position at 141.20 after the brexit news .
Reply
Dani0 arthurtanmoy
@arthurtanmoy, haha well lets wait and see. I despite risks i take, i also try to go in with enough sense to know i can last in market a looooooong move against me, even if i dont hedge lol, but i hedge this time when drop happened then exited the sell as it was going up.
Reply
Gbpjpy is trending up nicely. Nice post
Reply
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