So over the last week or so I have had ideas about getting long and each time I think we have had a double bottom we break structure and push lower. So taking a step back from teh daily and weekly and having a look at the monthly charts we do have a possible s618 set up happening, this would coinside with the further push lower and also be in or arround teh over...
We have a broken trend line on a very unstable pair, considering brexit and all. Don't risk too much on this pair as GBP acts really randomly, but with all that being said, this trade has a great ratio and we have already pulled back and am expecting upward movements to 157-158.
We have come back down to a previous rear of support on the daily charts. With the wick on the cuirrent candle we have rejected a push lower and I feel we will see mroe upside during the coming week/s Good Luck
Shark Completed, might want to long to 0.382 retrace or the resistance below it. Any other thoughts?
Buy FX:GBPJPY After Bullish Candle Stick Formation Price @ Back Side of the Trend Line (BLUE) Touched Uptrend line (Pink) Higher Highs (Support, Blue Arrows) Very Sharp Counter Trend Line Break StochRSI Over Sold Entry: After closing of the daily Candle (This Friday), Place Trade Monday Afternoon Stop: 10 Pip Below Previous Low (153.229 appx.) Take Profit:...
GBPJPY Bullish xabcd pattern LITTLE LATE BUT YOU STILL CAN CATCH
Awaiting the asian session... Hopefully this is what happened. Trend line break, flies up to around 16.00 where there seems to be lots of resistance.
Two long opportunities on this chart, one more aggressive with a massive Reward to Risk (almost 6:1) and one more conservative. Trade 1 = trend continuation stops behind 160.15 swing low shoot for retest of highs around 163.70 area almost 6:1 reward to risk Trade 2 = Bullish cypher with the standard stop and targets
Look for completion of C wave on multiple degrees. Nonetheless, this move up will be within the corrective structure of higher degrees.
Price may continue in downtrend to 160.907, if it breaks 160.621 then it'spossible for the price to down to the S&R level of 160.402. If so then look for price to retrace from 160.402 going in an uptrend and retest around 161.375 and retrace, look for a possible breakout "Long"
The market has been trending higher making it's way towards the 162.50 resistance area. Price is currently pulling back towards support. The support zone is an area of confluence comprised of: the previously broken swing high within the uptrend which is now likely to act as support, and a cluster of Fibonacci retracements measured from the two most recent bullish...
I think it will go up for a while, Fibo clustering at 50% = 158 Be sure that RR is good for you.
Amazing Finally it can break the resistant of daily chart. But, i still no order, BOJ is still important My plan,: No follow, still waiting.
Long term consolidation - rounded bottom. Some choppy price action to follow with an eventual upside.
FX_IDC:GBPJPY Safe Trades;