PLAN
Confirm to the Corrective state Wave 2 or A-B-C
I think it come out to 2 ways:
1. Wave A : 1-2-3-4-5 Impulse
2. Wave C : End of A-B
f irst target is 154.27(38.2) and second target is 153.84(0.5)
BEWARE : BOE News
Following up on the video that I shared with you guys last week, making a few predictions on the GBPJPY. We are now approaching a retest of the "B" leg for this potential Advanced Gartley Formation. (By the way well done 2618 traders!)
If you remember I was looking for a trend continuation opportunity & this advanced pattern formation would be a perfect entry...
GBPJPY is expected to SINK now.
* May SINK and come near 150.21 levels
* Stoch RSI (3,3,14,Close) is Sinking.
* RSI (14,CLOSE) is confused.
* CCI (20,CLOSE) is confused.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our sell call shall be from Buy above :153.01, SL: 153.78, TGT 01: 151.05, TGT 02: 150.21, TGT 03:...
GBPJPY is expected to SINK now.
* It may sink and come near 158.06 levels
* Stoch RSI (3,3,14,Close) is SINKING.
* RSI (14,CLOSE) is SINKING
* CCI (20,CLOSE) is SINKING
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our SELL call shall be from SELL BELOW :159.36, SL: 159.72, TGT 01: 158.47, TGT 02:158.06, TGT 03:...
Wathing close...
If this analysis makes sense to you give me a like and share with your friends. Thank you and good trades !!!
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should...
SUMMARY:
The secondary trend of GBP/JPY is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and is taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 164.10 and support at the level of 158.40. If it breaks...
Strong bearish trend.
Prices are holding around 159.800 (Red zone).
Great for a quick 2.7R:R.
Could be a role reversal level but seeing there is a strong impulsive bearish move on the 3/22 5:00 UTC, the following moves are very likely corrective moves.
Allow a few extra pips for some breathing space given that this pair is extremely volatile.
Looking to enter...
Reasons to short ;
- Completed head and shoulder pattern
- End of the Triangle pattern
- Passed my daily support pivot
When to short ;
- After a bearish 4hr red candle below the purple line.
SL at 160.886 / TP at 155.580
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements
GBPJPY0.13% this week's price action will either open the door for the continuation of bearish trend or new bullishness.
Fundamentally speaking GBP after the BOE statement gained some momentum as BOE was hawkish in it's comments and mentioned...
Hi, i don't use patterns a lot, but i can recognize H&S pattern
So what do you think guys
-GBPJPY have bear trend on daily chart
-4H chart: price its under 150 EMA
So sell if the neck line will be broken
I'm still learning so if this is complete nonsence let mi know :)
Previous Support is now acting strong Resistance 161.05.
Break of Support of 159.4 will drag it down.
Fall Below 159.4 will bring it again under resistance trendline.
Sell stop is 159.4
