Gbp/Jpy will make new highs from here.
The Last Order Block made new highs. the most recent order block came back and touched after taking shorts to it the past few days. we are looking at a new high from here.
FX:GBPJPY is forming a set-up within the ascending channel, which predicts the continuation of the trend, but for this the price needs to overcome the resistance at 188.28.
On D1 we can see that fundamentally and technically the national currency of Great Britain looks much stronger than the Japanese currency, although Tokyo has been trying hard to strengthen...
Hey Traders, in today's trading session we are monitoring GBPJPY for a selling opportunity around 187.500 zone, GBPJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at at 187.500 support and resistance area.
Trade safe, Joe.
FX:GBPJPY price consolidated and it is time to extract from that consolidation phase, we are now targeting 190 price region which will be crucial to look around that area. Entry now with accurate stop loss can be a good option to buy swing and take advantage this trade.
trade smart not emotionally,
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Today Anna is monitoring the pair GBPJPY.
GBPJPY is forming a Rising wedge pattern and it is now its on support level. Also we had a demand zone, where we can execute our trade.
Be with us and support our analysis, if you found...
The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.
Balance of buyers and sellers on the GBPJPY pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the buyers, therefore is it only natural that we go long on the pair.
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Looking to buy GBPJPY.
Entry and SL on chart. Taking off 80% at 2.2R
Confluences for the trade:
Big 38% Fibo
Trendline 3rd touch
Will also be looking for alignment across JPY pairs when the zone is near.
Catch you later traders ▲
I Like to share in depth why I entered OANDA:GBPJPY here, so I decided to share my entry from my physical journal. This may give you an idea of the series of questions I ask myself as I enter the trade.
Which session did you enter this trade?
What is your take profit?
What is your Stop Loss?
WHY are you entering this trade?
The 4H impulse to the upside used to draw the fib starting from the beginning of the movement. Then mark out the Golden Zone which is between 0.5 and 0.618 on the fib.
Switch to the 1H. See if there's an Order Block within the Golden Zone area. Mark it out. Use the area where OB intersects with the GZ as the opening for the Long. SL about 60pips. TP 1:2. ...