We have two view on gbpjpy First Gbpjpy make head and shoulder pattern , if hold right shoulder then sell from below and tp is 148 2nd view is if break right shoulder and upper trendline , then this pair going long first tp is 152.70 and tp 2 153.50 and tp 3 is 155 Good luck and trade with care Asad ullah
If this pattern completes, the daily zone (green area) where the breakout occurred recently will finally be re-tested. Look for a candle to close below the pink zone on the 1H chart or the blue zone on the 4H chart in order to short the pair down to this area. The rule of thumb for trading a H&S pattern is the distance - in pips of course :) - between the head and...
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Pending Short @ 141.20 Stop Loss @ 141.80 Target @ 139.50 RR Ratio @ 2.83 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
We've got a triple top on another idea, which we're waiting now for the break of a neckline for confirmation and the continuing drop will be in line with this Gartley pattern to complete Leg D. However, between the Targets 1 + Targets 2 of our Gartley pattern there is our 0.786 fib level, which we will be watching as the retracement for our Triple Top short trade...
We identified bearish three drive pattern and ascending triangle with downward break. We take short position from current level and book profit @ 138.50 Let's Watch !!
We see a quick correction of 200 PIPS Let's Watch !!
gbpjpy searching sell confirmation
After seeing the price rejection on GBPJPY, I immediately called bears to occur on this. Sadly before descending, my trade was taken out. Another rationale for entering a short position here was the descending behavior that can be seen on daily at 2017.05.11 to 2017.06.12 in which it shows where temporary correction is to occur before more downside pressure....
Our preference: buying position above 145.25 with targets at 146.10 and 146.55 in extension. Alternative scenario: in break of 145,25, a continuation of the decrease will be envisageable with 144,80 & 144,45 in line of sight. Comment: The RSI is bullish and militates for a continuation of the progression
Our preference: lighten as long as 1.4707 is stopper with 1.4491 as objective. Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832. Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line.
Our preference: sales position below 146.70 with targets at 145.40 & 144.80 in extension. Alternative scenario: in excess of 146.70, aim for a continuation of the rise with 147.10 and 147.55 in line of sight. Comment: as long as 146.70 is resistance, trading range with a bearish bias.
GBP/JPY showed first signs of important weakness. It has moved down under all the ema's on the hourly chart to make it an important movement and could very potentially be a trend continuation pattern. If it does not hold support at it's current level, then I expect it to go down about 300 pips and more in the long term. Always trade after your own analysis as...
Selling once we break the channel and the green line, best wait for a 4hr close under the green line before taking positions.
harmonic pattern almost completed and GBPJPY Currently is at sell zone watch carefully and take good points entry good luck .