currently short on this pair elliot wave 4 in the making targets alingh well to thr 38% fin retracement.. after that we go long for new highs
For this trade I will be looking to short the Pound Yen. I would like to see the price up a bit before entering short. If I see a bearish engulfing candle at any point in the current uptrend I will consider entering there however I would need to see the RSI showing signs of reversal.
Hi Guys. Here is an idea. it might be a bit late and the price will never go back to this level in this particular setup. Bullish flag reaches it's target 90% of the time. Target is 145.000 which was a S/R in mid June First fibo retraced just below 23%, which formed the flag and then started to go up. Now, I'm expecting to see prices come down to 139.000 which...
Expect small retracement before continuation of the long-term downtrend.
Hello Traders, Here we have a Wolfe Wave & Geo structure that is pointing DOWN after the current bullish run. A couple of things to note here. 1. This Wolfe Wave structure is still speculative since point 4 has not been defined. But, with the use of Fibonacci Extensions and ab=cd patterns I have defined a probable level where point 4 can be found. Point 3-4...
After the announcement this Friday, GBPJPY clearly broke many support levels and thus I believe it is safe to enter in a short position. Expecting pair to retrace before it breaks 158.4 (on the 1h chart its heavily oversold (Note: my RSI bottom is 20). From my analysis I expect a retrace to the level of 160.0 where it meets a strong RESISTANCE and 0.5 FIB...
Here is some simple break-retest analysis. I would like to see a retest of the bottom trendline and further bearish confirmation for a short position on this pair. Confluence added to the analysis with a fibnoacci retracement of around 61.8 - 76.4%. Risk reward will be 3:1 on this trade if it retraces the correct amount.
After multiple touches of the weekly channel and weekly 61.8% fib I think it may be just a matter of time before this pair starts to head for a new Higher High. Target 1 for now is 187.00 followed by 188.00 and 190.00. Price can pullback at anytime so these are just key levels where I would take profits.
GBP/JPY is looking like it wants to break to the downside. After consolidating for several hours it's forming a wedge of lower highs and higher lows. Odds are it will break to the downside. As to not jump the gun we will be shorting this pair with a break of 181.800, looking for a move of 80 - 120 pips with a stop of 120 - 130 Pips.
The current trend is controlling by bear which is pretty obvious concerning the fundamental issue. So I'm expecting the market may fall more. There is also a Gartley completing around 171.5 and a ABCD completing around 171.12 which can be a good point to buy the pair. But before that, let us have to wait to break the golden ratio 61.8% which is around 176. Else,...
Hey there, as we can see Pound is pounding Yen in last two days. Some positive data took it this high where ABCD Pattern completed at 181.39-40 area. Which is giving us indication to have a short entry. I took two entry from this pattern though I need to make sure this pattern is being respected as it is still in the PRZ. My entry will be shorting from 181.40-45...