Welcome to our weekly trade setup ( GBPJPY )!
Waving market structure.
Prices at range low, hold long on this one!
Sideways market at its lows, high chance to rise now.
1ST ENTRY @ 140.160
2ND ENTRY @ 139.780
SL @ 139.120
TP @ 141.310
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all...
A higher proportion of retail traders are net long GBPJPY which is often a very good sign the market is going to crush them lower, however on the 1hr and 2hr chart there is a good technical buy setup.
Providing price keeps its head above water at the 136 level I will maintain a buy position.
Price is currently showing bearish potential. We saw price move bullish into what i would see as a pullback and we are currently at a point of resistance where we may see price break lower toward the our take profit level.
STOP LOSS - RED LINE
TAKE PROFIT - RED LINE
Risk exposure - 1%
RR - 1:2.5
Hit that follow button !
Hello everybody, I decided to go in deep with this pair, due to his high volatility in the 1000+ pips bear move so far.
Few signals that it will go up for 1200+ pips move - IT WILL TAKE TIME!
1. Using the GAN SQUARE, I was able to determine that around every period +-2 days there has always been a reversal - checked last 3 years. At the moment we are at the end...
GBPJPY is approaching our first support at 140.18 (horizontal swing low support, 78.6% fibonacci retracement, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 143.56 (horizontal overlap resistance, 38.2% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (34,5,3) is also...
GBPJPY is testing the trendline H4 and could trigger a bearish rallye from this point. The invalidation level of the scenario would be 143.75.
Above this point a bullish setup may take place.
A target would be 142.00.
GBPJPY is approaching our first resistance at 143.39 (horizontal pullback resistance, 23.6%, 38.2% fibonacci retracement, 61.8% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 139.30 (horizontal swing low support, 100% fibonacci extension, elliot wave structure).
Stochastic (89,5,3) is also...
Gbpjpy Trading around 153.2 level we Can see on Weekly
its Formed bearish Pin bar. if hold below 155 we can see a big
drop toward 150-147. Advice to sell in range of 153.2-154.5 sl
above 155.5 TP1 150 TP2 147
1. GBPJPY is looking to either break-out the trendline or continue bounce back downwards.
Either could be in play.
2. We see the inner trendline broke out and re-testing the 150.6
3. Downwards bias for now. Till Further notice.
4. Risk Management Always. Trade with Care.