H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to move lower further in the short term.
D1 - Bearish divergence.
No opposite signs.
Expecting short term bearish moves to happen here.
H4 - Price has reached a key resistance zone.
Bearish divergence.
A valid breakout below the low at 184.545 would be the validation for this short term bearish view.
Prices are facing bearish pressure from its daily descending trend line and resistance zone at 166.20 where we could see further downside below this level. On the H1 time frame, a pullback to the resistance zone at 165.20, in line with the 38.2% Fibonacci retracement presents an opportunity to play the drop to the next support target at 163.60. Stochastic is...
currently GBPJPY is trying to form a bullish movement. But I see movement rather than bullish while GBPJPY is not so good from a price action point of view. Then I found that there are 2 Fibbonaci areas, namely 50.0 Internal Retrachment and 1.618 external retracement meeting a minor resistance at 155.414. My assumption is if the price is not able to penetrate the...
I'm looking for Long term bearish in GBPJPY, Now price inside H4 Breaker block, don't trade blindly in given POI, look for M15, M5 or M1 break of structure and change the POI accordingly and trade
As we can see
gbpjpy has reached the resistance weekly and also rejected
here we go
my forecast for gbpjpy for bearish
we can execute gbpjpy as well after he give us flag on lower timeframe
so the forecast would be like this
share your perspective below
thankyou !
The reason this play should play out because since the beginning of March the Pound has been in a downtrend creating lower high and low prices, And the trend has be verified.
On the daily we have a collection of variables that support the down move .
1st We have market structure creating lower swing points on the daily frame with price currently at a lower high...
This analysis shows an example of how Elliot Wave forecast used to line up with other technical indicators.
Here I'm anticipating a sell-off in GBPJPY to complete a regular Elliot Wave pattern. This pattern is most likely to complete within the blue box on the chart.
As you can see, the blue zone lined up with minor demand/support zone, the third bounce of...
NOTA: El análisis anterior de GBPJPY donde perseguiamos solo +60 pips, se dio con éxito hasta los +70 pips (actualmente). Éxitos a quienes tomaron la entrada!
Actualmente, nos encontramos en un retroceso ascendente de aproximadamente 30 pips. (No operaremos éste retroceso; Solo le mantendremos el seguimiento hasta que se cumpla.) 134.985/135.315.
Una vez...
On the weekly time frame GBPJPY finally managed to break out from its long time resistance. You can see that in the past years it bounced back 3 times but this week it has finally broken it. This means 160+ is next for GBPJPY.
Keep in mind that this is the weekly time frame providing a long term view. There will be plenty of retracements and small corrections to sell.
So in my previous Idea I though we had a double bottom form and the potential for a rise, we have now broken structure so Im now looking at the bigger picture and trend continuation
