GBP/JPY sell
Daily momentum down
1H momentum down
1H trend line rejection
Round number 142.00 rejection
Price break low and re-tested with pinbar
Entering trade at the breaking the low of the pin bar
R1 pivot rejection
After 4H structure was broken and we saw perfect retest before next move down confirmed usthat we ready for downtrend continuation on weekly overview (Weekly candle closed bearish engulfing)
GBPJPY is now meeting some major daily support with down trendline at the same time.
If we see break and retest, we will be looking for some excact sell setups and jump on...
GBPJPY is bound to retest the downward channel, as it did when it broke out of the bottom last time. It is also right on the 200 4-HR SMA, which is acting as a tough resistance, as well as the supply zone.
My last short idea did hit my original stop, but I moved my stop up because I think this will be a huge move.
As always, use proper money management
GBPJPY broke out of the channel due to brexit news, as the previous lower channel break shows, most channel breaks get retested and a lot of times, re enter the channel. Along with bearish SMAs
Use Proper MM
Sell the rally, but where to sell?
The big blue 504 period EMA represents the Daily 21 EMA on this hourly chart, and as you can see we had 2 nice bounces off of it.
I have marked up the 618 fib of the double top so if you were a bear you could short from 132.937 as a 2618 trade with an initial target of 132.477 or roughly 45 pips. The rest is up to your trade...
Been focusing soley on this pair for the last 2 weeks as I love the way it moves.
So looking at current movements on the daily and weekly I feel we are still looking at a move down, so looking at way to get involved we could have this cypher complete
after failed harmonics and break of recent support, we can expect Bearish pushes to 128-127 area, we should see a reversal and ten a continuation down to the 117 area . position already locked in with 300 pips profit #CatchPipsWithUS #NTG #FIP #BTH
After Anticipating Last weeks drop to 128. we were able to making a beautiful 600 pips holding strong trades down to last weeks D point on our ABCD, this week i am expecting a steady move down to the 120.5 price area in consistency with our next POI. right now we have a possible smaller bat pattern forming on the 15 minute chart at 131.4 and i am expecting 131.7...
