Now Im in short from 140.52 SL 140.77 Pending buy on 133.56 Lets see Your coment and like welcome! :-)
ON THE WEEKLY CHART PRICE HAS TESTED THE 130.008 PRICE LEVEL (PURPLE), TWICE. PLACE A BUY JUST BEFORE 130.000 LEVEL WITH A STOP LOSS JUST BELOW THAT. NO PROFIT TARGET. LET YOUR WINNERS RUN.
382 and 618 targets 2 trades SL on both 134.662 when 382 target hit on trade 1 will move stop to break even on Trade 2
The Pound has exploded higher on Friday and in my experience after such strong movements comes a decent pullback. I am bullish on the GBP as we are now trading well above the most important moving averages, aswell as having convincingly broken through the Daily 21 EMA. I am expecting a retest of the D21 and previous structure found at the 133.200 level before...
Sell the rally, but where to sell? The big blue 504 period EMA represents the Daily 21 EMA on this hourly chart, and as you can see we had 2 nice bounces off of it. I have marked up the 618 fib of the double top so if you were a bear you could short from 132.937 as a 2618 trade with an initial target of 132.477 or roughly 45 pips. The rest is up to your trade...
It a long term Trade with high Reward 1:3.5 Risk Reward let's see
Gbpjpy seems Strong support around 131.2-130.9 level We advice to buy in range 131.9-131.4 with sl below 130.8 and TP1 133 TP2 134
I think we see nice retest, buy more lots SL 129.84 (see related ideas)
GBPJPY Hard buy breakout expected for long! Dont miss that! As always, Buy GREEN Sell RED breakout!
The price finding support area at 139.50. Bullish as long as support area remains intact. As intraday trading strategy. we must get bullish signal confirmed by trading above 140.50 with potential target at 144.30- 145.70.
One can either Trade C to D or The Dpoint of this pattern. we see a respect of red trendiness so be patient and wait on it!
If we see this candel close above the trend line coudl see more upside