Based on Weekly Price action for GBP/JPY we can see that This pair has broken a weekly Major Trendline and Retested the Area with some Choppy Consolidation and Rejection. A 61.8% rejection is also in line with Key weekly levels that also supports the idea that the -27% extension passed 140.00s will be reached. A quick glance over at the BXY will also show some...
Taking into account the technicals and current market fundamentals, this short is a no brainer.
If GN were to shoot up and hit that box, it measures and counts out to have a nice 5th wave out of it. The W-X-Y pattern would line up with 38% retrace on a wave 4......which would make sense....
The British Pound against the US Dollar is one of the oldest currency pairings in the world. The pair is often called 'The Cable', as the first transatlantic communication cable run across the floor of the Atlantic, connecting Great Britain with The United States, was used to transmit currency prices between the two economies. 'The Cable' remains a favorite of...
The British Pound (GBP) against the Japanese Yen (JPY) pair denotes how many Yen are needed to purchase one Pound Sterling. GBP/JPY is a pair widely followed by scalpers and forex day traders. Day traders love the wide and volatile swings the pair tends to make on a day by day basis. There is enough liquidity in the pair for scalpers to quickly get into and out of...
These zones are calculated using Fibonacci Ratios of past price moves. The chart is stretched Vertically - Drag the Right side axis to change magnification. There are zones above and below the current window, Drag the Chart up/down to see other zones. Drag bottom axis to the left to magnify the candle size to view close up. Obviously there are more zones...
Confluence of resistance above. Moving averages, resistance zone, trend line and the price made an egulfing candlestick pattern yesterday. Trend is clear, let's see how is it doing monday for entry.
Expecting further bearish move. The Asian session made the yen strenghten (so GBPJPY weaken). This sell off was quite significant making it difficult for price to continue higher. Now looking for a drop towards 144. Potentially retesting the trendlines to make one more swing before continuing down
GN broke out of correction and made a small pullback and is resting underneath the 1.236 fib extension. Yes, it is going up right now, but I would watch how it reacts to the 200 MA on the 1hr to see if you might get a flat down to that 1.618 extension level it never reached. That's what I would expect considering how this pair behaves and by looking at the lack of...
The British Pound (GBP) against the Japanese Yen (JPY) pair denotes how many Yen are needed to purchase one Pound Sterling. GBP/JPY is a pair widely followed by scalpers and forex day traders. Day traders love the wide and volatile swings the pair tends to make on a day by day basis. There is enough liquidity in the pair for scalpers to quickly get into and out of...
Looks ro making a daily flag. I got in lower down. I will TP 1 at the 200 ma on daily roughly, then set stop break even and let run to that line
Over the next few day's we have various reports coming out for this pair, and we have the Brexit negotiations going on which, will almost certainly have a negative impact on Sterling. Interestingly, both economies are performing well when viewed through the prism of reporting metrics but compared with the US$, Sterling is still going to be the underdog, but while...
Price heading towards a strong area of resistance, already rejected. Be aware of the PMI data of CAD dollar in the US session, this might move the market a little. Expecting price to reject at 1.74, with a target down to 1.73 and maybe further.
The price action certainly confirms a number of cases for a bullish outlook, but more than that: The 49 day cycle. I've written about the power of this cycle before and the importance Gann made with it. The 49-day cycle is what he called the 'Death Zone'. He said this because trends often find strong reversals from blow-off moves - which is exactly what we have...