* HEAD AND SHOULDERS PATTERN IN DAILY *
Price breaks from trend line of the right shoulder and retest the resistance, hence going to complete the pattern.
Hello my friends,
I got another setup coming for you today. Another pair with JPY which is GBPJPY.
I am using daily timeframe for this setup so don't expect price to move quickly along with our direction.
Noticed that price already break below the ascending trendline with a solid candle close from previous candle.
This upwards movement was only a retest of...
After dropping almost 1000 pips started at the beginning of September, GbpJpy found a bottom at 133 and now is in a correction.
In my opinion, a new leg down will follow soon and I'm looking to sell this pair around 50% Fibo retracement.
The first target for bears can be 135.50 zone
GBPJPY reversed from the resistance zone and broke out the S&R zone and daily ascending trendline impulsively.
According to the EW principle, a three-wave correction in opposite direction follows every impulse move.
That's what is currently unfolding as a bullish corrective move in wave (b) The correction seems to be unfolding as a zigzag and it's about to...
Hello my friends,
Today i got some of my positions hit stop loss. It is a bad day for me and i believe this is a good experience as well as no traders can get it 100% right all the time. The most important thing is to keep our risk management all the time.
Here are some of my positions which hit SL
GBPCHF pairs for -50 pips
USDJPY pairs for -45 pips
For...
I believe I read this setup wrong when I published on the 25th.
I believe there is another wave that needs to complete before price corrects.
If this is the case, I see two possible scenarios; 1. price reaching the retracement extension @ ~129.XX or price reaching the last low @ ~131.75.
What are your thoughts on this one?
GBPJPY Sell Swing Trade Setup.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
We already highlighted the possible options earlier. As we broke resistance and formed support, we executed longs with stops below the current 30m candle. Price ran for 10 pips before we secured profits and moved stops to BE. We then got stopped out at BE after that, so it was a good trade.
This morning price broke support at 136.050 and we waited for resistance...
We are looking for a break of support at around 135.350-00. If this happens we would look for a resistance to form on the lower timeframes before looking to sell back down and fill the clean range down to 135 flat. The reason I am not looking for buys is that the upside is very choppy and there isn't a clean range to long into. However if we respect the support...
Hi all traders,
I have done this video analysis of gbpjpy for you all to take note of some of the important areas.
Now that gbpjpy have broken the important trend line, we should be sell biased at least for now.
Do leave your questions in the comment section.
Follow me on tradingview for more video analysis.
Like and share with all your friends for this video...
Welcome to our weekly trade setup ( GBPJPY )!
-
1 HOUR
Slowly rising market structure..
4 HOUR
Small pullback to the upside, good short entries!
DAILY
Overall bearish market structure in a small pullback..
-
FOREX SWING
SELL GBPJPY
ENTRY LEVEL @ 134.670
SL @ 135.210
TP @ 133.310
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different...
GBP/JPY
A roof? What do we have here?
on GBP/JPY all we see is a confirmation for a sell to 131.372
We might see a pull back to 135.576
Resistance levels: 135.576, 138.27
Support levels: 133.372, 131.168, 129.341
Let's watch...
#JustTradeFxOnline
Thanks for your love and support.
Don’t forget to like and comment for more.
GBPJPY testing a daily support , are we gonna break the support or correct ?
rejected the support waiting for good entry for LONGS or short bellow 133.516
