Price is getting closer to a high-probability PRZ (price reversal zone marked in red rectangle.) Harmonic: AB=CD completion Elliott waves: ABC correction complete in multiple degrees. I would wait for the price to reach the red rectangle and show signs of a reversal.
Here on the sunday opening we are looking into having a short in place if price hit´s the major structure resistance we are running into. The formation of an advanced cypher pattern may give us a defined rules based entry, not right at the resistance, but we hopefully catch the move with the entry at the PRZ 162,025 Have a good week in the markets Kind...
As you can see there is a Shooting star formation look to go bearish
GBPJPY Daily scenario exposes a Very good oportunity to take short at ressistence $162.00 based in the candles it exposes a possible lower high at Weekly Pivot $(B) POINT 158.500 near to GREEN UPTREND (CHANNEL) happy weekend thanks for your time.
Price @ 23.6 Fibo Tracement Just Touched Downtrendline Lower High of the Triangle StochRSI Over Baught, Going Down
Rejected off key zone, good shorting oppurtunity, risk:reward 12:1
I am Short in GBPJPY @ 158.40 aiming for 157.50. Nice move of around 85 Pips.
FX:GBPJPY Safe Trades;
FX:GBPJPY Safe Trades;
down trend channel resistance & gartley pattern. short setup
While the EURJPY has about 4 Gartley formations on the horizon, the GBPJPY is nice and simple with a single advanced bat formation set for completion at the 161.70's level. Make sure this trade meets your risk profile as the stop may be larger than it seems because of the pairs ATR. Also here's a link to the periscope video that I did this afternoon for the FOMC...
Potential Bearish Bat Formation near completion on the GBPJPY with a "D" completion at 157.18 Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl @AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
Bat pattern completion on GBPJPY @ 157.17 Minor structure level
2 potential advanced patterns completing close to each other, both indicating a possible bearish move
Hi Guys, This is a bearish CYPHER pattern @ 157.64 and stop loss will be placed above the X leg which we use as good resistance in this case. TARGETS ON THIS TRADE WILL BE DIFFERENT TO USUAL AS I VIEW THIS AS A DOWN-TRENDING PAIR, THEREFORE TARGETS WILL BE AT SUPPORT/RESISTANCE LEVELS. IF/WHEN first targets are met, half of the position would be closed for...