This pair just took out the previous high as well as the weekly high!
Could it be time for some retracements?
If we manage to hold around this level without pushing higher, I would like to sell all the way down into the weekly equal lows.
What are your thoughts on this analysis?
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A new trend is strating from a small time frame and get confirmed on big timeframe.
Looks like we have 2 impulses (1 - 140pips, 2 - 170pips) and we are expecting the third one from here (200 pips) from Fibo 50.
We have TP1 and TP2.
RSI on INTRADAY is near 70 .
Is good moment to catch to SHORT with start new week.
Possible target on this week : 1.54200 - 1.54500
Good Luck !
all the money has to be distributed to the method you were depositing first
then any profit you make will be distributed to the any method you choose
Hey guys, this pair has been on a strong bullish move.
On the H4 timeframe, we see a consolidation break in market structure to the dowside which gives me my bias for going short. My bias will be invalidated incase that H4 reistance gets broken.
This pair is the main event of the day.
If you time your sell entry well on this pair, you could hold a swing on it and capture massive profits.
We will be taking this trade today.
If we see rejections and LTF structure shifts, I am in with the team!
We were wrong on the earlier prediction about the pair breaking down, it went up, but now the price action in the 4hr very much paints a likely short term top and it's about time we had a correction down in this bull run which had not seen a major correction since it started several days ago. The daily is super bearish and price may retreat 100-350 pips before any...
Similar to USDJPY and CHFJPY we are covering this week, the pound yen has farther downside to go. A strong upward correction needs to happen before we enter our short position. The weakness in this is amplified by the structural weakness we see in the pound dollar and the downside move should be juicy.
Retest to the upside at around 157 and we ride to 153.
It break inner trendline for a sign of bearish momentum. It can be just a retracement or it can be a larger bearish movement if it can break the trendline. But it is an excellent risk and reward ratio.
Today let's check GBPJPY. As expected every year's OCT was not good for JPY. To know the reason read about JPY GDP news for fundamental and market sentiment.
Technically, this pair currently retest the weekly supply zone/swap zone. I personally expect the price heading for correction or reenter for a huge range sideways between $163 and $124 price...
Price is bound to purge the equal low liquidity before return to the trend line liquidity.
I have illustrated how price may react around these sensitive regions before setting off to the weekly highs.
Personally, I will be selling on the lower timeframes until the swing buy opportunity presents itself.
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GBPJPY - Intraday - We look to Sell at 157.95 (stop at 158.23)
Daily signals for sentiment are at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
A higher correction is expected.
Trend line resistance is located at 158.00.
We look for a temporary move higher.
GBPJPY has worked its way into a Monthly Supply Zone. A reversal here, would make for quite a trade to the downside.
There was a break of structure to the upside, making for a HH. A return to impulse is expected to follow, to make the HL.