Another successful clean trade setup. First TP smashed. I had set the same TP for both my entries but ended up seeing the possibilities of price going even lower. This new TP lines up exactly with our -27 fibbo retracement line (DM me to learn how to use the Fibbo the easiest way). Another entry should have been opened upon price retesting the violated channel's...
We previously opened positions on GJ and are still holding but profits locked. Price has rejected the 38 (and I have confidence in a drop from here mainly, not solely, because of the adverse results retails sales. Also, (as a Fibbo tip) when price has so much momentum, it is MOST LIKELY to retrace only to the 38. My second position's risk will be covered by...
GBPAUD Bias is bullish for me and I am waiting for that limit order to be filled in a few hours time.
Much Volume is pumped out from the 0.7 extension level of price so believing in the upward movement of price as it has already defied the downtrend.
Sell positions will be triggered upon trendline violation. Mind you this is a weekly chart.
This is not financial advice. Forex trading is a risky business. Exercise proper risk management.
GBPJPY on the daily time frame we see it's already breakout nicely an umbrella pattern downside in other hands a strong support level. The British pound is getting weaker against the Japanese Yen. We are going to open a short position from the current price.
Lovely order on GBPJPY R:R 1:5.5
@FxShzd trading style doesn't care about win rate mainly focuses on Risk to Reward
‼️Attention‼️ As soon as we get 50%✅ in profit, SL❌ to entry point
Lets make trading simple W/ @FxShzd
This pair has rallied a long way since the recent lows at 151.40 area... I expect the GBP rally to start slowing and therefore have started to fade this pair at the 155 level. My stops will be implemented if we break the old upper limit of the downward trend line around 154.30 level. JPY has been fairly muted as of late, so this is effectively a cable trade...
As we can see on the GBPJPY daily time frame since last December, the Bull keeps the market up strongly, and the Pound was getting stronger than strong against YEN. After the G7 Meeting and Federal Reserve Meting, the Pond is getting weaker slowly. We are going to open a short position from the current price level.
✯✯✯✯✯✯✯✯GJ- GBP/JPY- Weekly Forex Trade Analysis- 06-06-2021 - 06-11-2021✯✯✯✯✯✯✯
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#1- Market Trend / Market Bias = Uptrend- The Market Trend Is Up
A. Blue Arrow Pointing Upwards... Signaling A...
GBP/JPY ended the previous week on a bearish note and the bearishness
may continue in the upcoming week as well.
The 156 level is a strong historical resistance for GBP/JPY and thus it makes
sense for a correction to happen from this level.
Watch out for selling the rallies in GBP/JPY possibly near the 155.50 level
with SL above 156.60 and TP at 150.