Pattern: Triangle on 1D. Signal: Bullish as: a) the MACD made a Bullish Cross, b) the price broke above both the 1D MA20 and 200. Target: 1.7600 (below the Symmetrical Resistance). Make sure to book profits if you see the price struggling on any of the two Lower Highs trend-lines. ** Please support this idea with your likes and comments, it is the best way to...
Pattern: Bullish Megaphone. Signal: Bullish as the price is near the Higher Lows Zone of the pattern. Target: 2.0000 (+9.50% from the low, assuming the current price is, as this is the weakest rise that GBPAUD had since 2016 within the Bullish Megaphone). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and...
Pattern: Channel Down on 1D. Signal: Bearish as the price is approaching the Lower High zone of the pattern. Target: 1.1950 (Lower Low trend-line). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** Previous GBPUSD idea:
Pattern: Megaphone on 1D. Signal: (A) Bullish if the 1.2655 trend line breaks and (B) Bearish if the 1.2160 trend line breaks. Target: (A) 1.3200, (B) 1.1600. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Pattern: Rising Wedge into a Channel Up. Signal: Bearish as the Rising Wedge is approaching exhaustion point and based on the identical pattern of 2017/2018, it should evolve into a Channel Up. Target: 2.0000 (potential contact with the 1D MA200 or close whenever contact is made).
If the price breaks and retests minor support on H4 Timeframe, we will take short on GBPJPY. Otherwise, in case we saw the resistance broken, we would be looking for a nice long.
The current sell-off is similar to the Brexit shock on GBPUSD on June 24, 2016. Once the price got detached from the 1D MA50 it declined nearly -15% from the top. The reaction at the bottom was a pull back to the 0.236 Fibonacci level. The new (lower) High was confirmed by the MACD roll-over. If the same sequence plays out, then we see 1.1800 as a (lower) High. It...
Pattern: Ascending Channel on 1D. Signal: Bearish if the Higher Low trend line breaks (dashed line) and in extension if the Symmetrical Support 1 breaks. Target: 1.2800 (condition 1) and 1.2500 (condition 2) in extension.
Pattern: Channel Up on 1W (dashed channel). Signal: Bearish as after the price failed to cross the 1M Resistance Zone, it got rejected on the 1D MA200 and the Channel Up broke to the downside. MACD also rolling over. Target: 1.1460 (symmetrical Support A) and 1.1000 (symmetrical Support B).
Since mid-October the GBPound has been gaining momentum against the JapenseYuan. Reaching a recent high of 147.900, the price point immediately reverted to retest the previous channel's top trend line near 141.500 (shown in orange). After a showing of strong support, the price point returned to its longstanding uptrend which started August 11th 2019 (shown in...
Pattern: Parabolic rise on 1D. Signal: Bearish as it is approaching a Symmetrical Resistance level (rejected the price 8 times since 2016) with the RSI on 3 year highs. Target: 137.000 (Symmetrical Support). *Such long term symmetries are useful and quite accurate. I have successfully implemented this approach on my last GBPJPY buy signal:
Pattern: 4H Channel Down. Signal: Bearish after a new rejection on the Lower High. Target: 1.28500 (1D Support).
Pattern: Channel Up on 1D. Signal: Bullish after making a Higher Low. Target: 1.3300.