Price has 80% probability to reach the median line of a Pitchfork and overally I am still long term Bullish with reasonably still valid bullish targets on this pair (see my previous chart and analysis on GBP/JPY), so if this bearish scenario does not play out it may re-validate my bullish scenario chart posted on 4th May..for a "bulls goes to market outlook".
But if the tiny trend on chart is broken for a bearish interval then this analysis is activated and I will follow the Hagopian theory and analysis posted on this chart. The markets remains the King so will wait and will see ..
Have a nice weekend and Happy trading to all!
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Watching ..interestingly!
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Zoom into chart! looking some patterns are coming into play here..
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remember we are watching activities below support and trend line
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still optimistic for TP1
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TP1 or nothing :)
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taken what was on offer, closed this trade, too much uncertainties due to election
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There are some indications that this pair could likely blast upwards, updates to follow soon with new charts etc..
NB see the bullish gbpjpy charts posted on 4 May, also you can fnd the link below
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The minimum target as stated and shaded on chart has been nicely met re Hagopian rule, i did warn of likely upsurge from that area and which has now become evident , in light of all this a bullish move towards 144.xx is likely but first maybe a move toward the aforementioned shaded area, and it holds this time we go bullish, failing that is the second Hagopian target of 135.xx.
NB In my own experience, the 1st Hagopian target is always achieved, and sometimes second target, so always wise to follow the lead and not move to quickly
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Predicted bounce from on top of the shaded area, (as seen, as predicted) well into the move move, are we?
NB see last comment before this
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well on its way..i'd say.
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target of 144.xx exceeded accordingly re comment of jun 17, cheers.