Hi Freedom Traders,
only being active in the markets when we have an advantaged based on solid data is one of our goals.
Such a high probability trading chance offers us a confirmed Bullish Bat Pattern in the GBP-JPY.
Possible entry and exit levels to minimize risk and maximize profits are in the chart.
Happy Trading!
On the GBP.JPY 4hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 138.223 & 136.472
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of...
this pair seems to be creating a 3 wave pattern if that is the case we look for this pair to go long to structure @ 144.xxx .... if this is not a 3 wave pattern then we look for a 5 wave pattern to drive price to 137.xxx then go long
we are looking for this pair to break trend line and move up to structure levels around 152.xxx to 155.xxx .. we are also looking as a potential start of a uptrend for this pair
Evening guys
British Pound sustains drop as May comments on fears for coming Brexit... (138.831-139.090) which may activate some rebound correction
Below (1.2080) on cable will indicate further downside on all sterling pairs will be expected toward (1.2000) zone with the gates then opening for (1.10 and 1.00).
GL and please remember to like and comment your...
Hi guys, the GBPJPY didn't follow my plan (see the linked post), but that is why I wait before entering a trade. I expected this pair to move lower. Instead it popped above resistance. Down trending resistance goes back to December, so it should provide decent support now.
My levels are on the chart. Sorry for the late post. I forgot to hit 'send'. Still learning...
gbpjpy Trading around 141.5 on daily chart its giving Good Shark pattern we Expecting a upward move toward 0.618 which is 146 where if hold above then our next tp will 152
Ideal sl will below 137 level never forget to use risk management .
Best of luck
The 50 EMA (red) on 4h seems to be acting as a nice support which has created multiple different support trend lines coming off of many different areas on the chart. A 4h close above 141.50-60 could indicate the start to a 100-150 pip bullish move. If you look at momentum the highest high it made was November 10th 2016, ever since then it has created lower highs....
Nice Flag formation happening on the 4 hr chart, fib inversion puts our 1.618 at a Daily level
looking at extended targets the 1.27 of the fib extension lines up with the 618 area of the recent leg down on the higher timeframes
The GBP.JPY is 1 of 5 currency pairs on this evenings watchlist.
Once my entry criteria has been met we will set a pending order and await a clear break.
