What we see on GBPJPY is quite clear and nice, price showing bearish pattern just on the top, with strong momentum to down.
Sor far we waiting for price to show more bearish signals and ofc we wait for the price to be back to our strong resistance level which is drawn by orange area.
Finally set our 1:5 order and go with new trend ...
⚠️Take Max 1% of your...
Since the beginning of March, GbpJpy is carving a rounded top.
Now the pair is trading exactly in pattern's support and a break here looks inevitable.
If such a break happens we can consider the formation complete and open sell position.
The target for the pattern is more than 500 pips down so 144 technical support can be in play
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
If you like this idea, do not forget to...
As we see, price began a new bullish leg from the last mitigation spot. Price was not fully bullish until we got the impulsive swing which broke the market structure higher, taking out previous LHs.
Now we see price approaching the inception of the bullish move initiated by smart money which BMS higher. We expect for price to make new highs after...
Consistency is key if you want to grow. Follow your rules. Even if it so happens you get stopped out, it will be easier when you followed you rules. I dont focus on the money. I focus on two things: my risk/reward ratio (1:3 and above) and the number pips.
This is not financial advise. Forex Trading is a risky business. Trade at your own risk....
We previously opened positions on GJ and are still holding but profits locked. Price has rejected the 38 (and I have confidence in a drop from here mainly, not solely, because of the adverse results retails sales. Also, (as a Fibbo tip) when price has so much momentum, it is MOST LIKELY to retrace only to the 38. My second position's risk will be covered by...
In the few days, we have seen some JPY strength! Some pairs with JPY as secondary currency were in a bearish trend for the last few days, a good example of them is CADJPY and EURJPY!
The same scenario we can see in GBPJPY!
Currently, this pair is in a bearish/downtrend structure. Not just that, on a daily timeframe, we can see that price is at 78.6% Fibonacci...
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Sell positions will be triggered upon trendline violation. Mind you this is a weekly chart.
This is not financial advice. Forex trading is a risky business. Exercise proper risk management.