GBPJPY (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react...
My idea for GBPJPY is that based on the strong weekly supply zone, I see price action becoming weaker. The pair has performed purely impulse moves without significant corrections. I am bearish for the short term, but later on December I believe this will break 171 and will go higher.
Price has a recent support at 167.736 which its currently making a break out of & also it formed a resistance at 168.425. Price also just formed multiple lower lows while moving in respect to a newly formed downtrendline as you can see from the chart. Now if price respects the resistance & closes below the support, then we can expect price to continue pushing down...
Hey trader, I hope you're having a profitable week. ;)
If not, maybe you'll have one with this trade. But before taking it, let me explain how it will unfold.
The price will prepare to drop for the take profit point after it has formed a bearish reversal pattern that guides the price to break and retests its neckline and 8 MA. That's it. Simple, right? Wrong....
GBPJPY (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react...
Looking for GJ to pull back to the 50% range of the previous 4H candle. Looking for a potential Short position at 169.100 if we get confirmations on price actions.
GBP/JPY, 1 Hour TF I'm currently looking at price action on this pair to see how price react at $(168.71) area
Potentially short once price keep below $(168.71) we can clearly see price back into $(1666.00) support area
Looking for a short to start the week if we see further rejection from around the 167.8 resistance.. very early in the week with London session still to come, we may create some momentum from there so no rushing into any trades... 166 immediate target with eyes on 160 if that can break...
GBPJPY (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react...
Price has respected as we anticipated and we are now currently watching price struggling to break the 160.500 level due to this I have decided to take some partials and leave the rest to run should incase we get a reversal from this zone.
Hello traders!
⁉️This is my analysis on GBPJPY.
Here I expect bearish price action as price rejected from resistance + institutional big figure 167.000. As a target I have that huge imbalance below.
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We are hoping for the EURUSD to go sell from 0.98950 and hopefully this trade will give you all a good fortune as the trade itself contains more than 150 pips hopefully you all will make a proper use of this trade
List of confluences:
1: Trendline Breakout
2:Key Level Breakout and Change in Market Structure
When looking at the larger time frames, we can see that GBPJPY remains bearish . We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend.
We have listed 2 reasons as to why we will be looking to short/...
