Managed to catch a nice 5.5RR on this pair today, decided to get in and out with the uncertainty of the pound. Very simple elements: Stop Hunt Fib & Liquidity Grab With a target of my key level (well just above as we don't always have to tap it exactly)
Should we see 148.600 break, we could see a massive drop off in price; which GJ is due to be fair. Key turning point was the highlighted spike where price failed to breach the high and thus created the new trend. Pullback zone highlighted, sit wait and be patient.
As i said last weeks ... I expect a rejection either from the 153,900 level or from the 152,780 level of at least 500-700 pips because GJ is over bought! ...on the analysis made simultaneously for 4 hours, 1 day and 1 week on GJ, I think that the decisive level will be 150,970 ...and then continue the decline of 500-700 pips that I mentioned last weeks of which he...
GJ broke previous support and str8 melting like crazy! Price will most likely go under 149.100! Very high probability!
Looking like an exhaustion area where price will retrace back to the previous level of structure
based on analysis GJ has been doing many moves but over all this move should go double the pips ive placed on this long call
GJ long confluences: Uptrend third touch Pullback retesting broken range Price rejection at 0.681 fib level supported by MA;50 Cup and handle chart pattern Scaling : Buy stop order set at 152.14 Good luck everyone!
I have charted up what I see on GBP/JPY. It looks to me like the previous high of this range was a 4HR institutional manipulation. This could have caused the large fall recently. I believe now that the pair is accumulating and institutions are beginning to take profits from their short positions and are allowing the price to return to the long range target of...
1. GJ is on an overall bullish trend, but in the previous week, it's facing range. 2 Do your own analysis before taking any trade. 3 Wait for retest and strong support make above 150.200 or 150.300. 4 150.800 is a strong selling area it must break it for more upside.
My weekly prediction for the price of GJ. Currently rejecting off of a previous zone and the golden zone on the fibonacci, likely to form head and shoulders in the coming week or two, thoughts?
Look at the #GBPJPY chart on 1h timeframe! as you can see, price is going upward on this channel. on 16 April, Support zone retested and now we should look for long positions. look at the 4h timeframe: Show me some love with following my tradingview page and please do not forget to like.❤️🙂 Post your comments!
As u can see, the price was consolidating for a long period of time more than 150 hours... As u can see on the bottom price gained some liquidity below and all the stops were hunted. Next we can wait for build up at the top near the resistance and enter on the breakout. Remember, Patience is a key, u need only 1 - 2 trades a week having a good R:R to make it...