GBPJPY is facing a series of bearish involvement, having broke out from the neckline/support and is retesting the support turned resistance area, I look forward to a big bearish movement.
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Price just got in to a Demand Zone, now we can see an H1 engulfing candle creating another Demand Zone, i you didn't enter at the beginning just have to wait the retracement or place a pending buy limit order, may the lord bless you
GJ Head dropped a good +200 pips and now tapped into a main daily demand zone at 188.35 where I was looking for reversal formation. Reversal formation was formed at 9.30 once 30mins candle broke below Doji but then closed as a Bullish engulfing. Price also Broke structure to the upside .
Upon seeing I set a Buy limit order @188.500 and was waiting for Pre-Ny or...
Hello Traders!
GBP/JPY is bullish on higher timeframe (H4) and now made a bullish structure on lower timeframe and price could react from the actual demand.
Good luck and risk wisely!
Hello everyone, last analysis hit all 3tp... price has reached main support... price will push to tp1 and may pull back... since the price if oversold at this point chances are it can go bullish for now..
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price well respected daily structure and created a double bottom meaning rejection meaning bulls are now in play
Once price creates a HL on the smaller TF we can possibly see a bigger push to the upside
The JPYX seems to be trading bearish which will allow pairs such as UJ and GJ to push higher
yen pairs have been bearish all this week with the strength of the yen
Price has been pushing down thus breaking minor area of structures
Price is currently heading towards a level of support of around 188.375 and i would like to see price respect that area tp then head towards 189.258 to retest the structure it broke as new found resistance creating a LH
GBPJPY has a bullish bias on the higher time frame. It is currently retracing and collecting liquidity, and is now at the point of interest (POI) and starting to react. There is an expectation of bullish continuation from this POI.
Medium risk buys in this area. Why medium risk? There was no inducement. There might be enough demand tho and it's a pretty good are to look for buys.
Scenario 2 - in case that supply exceeds demand (S>D) you can pretty safely look for sells off the DBR demand area.
What do you think? Comment below.
LQP = Liquidity Pool
DBR = Drop Base Rally demand zone
2WT = 2 Way Trap
Entry taken During London Session.
1. Price in an Overall Downtrend Creating LH's and LL's.
2. Daily Candle Strong Bearish Indicating Sells.
3. Price Created a New LH Indicating Sells over Buys.
The trade is running 100+ pips profit. I closed half and let the rest run.
I'm still bearish on GJ till it at least gets a medium inducement which is our target.
What do you think?
2WT = 2 Way Trap
LQP = Liquidity Pool
DBR = Drop Base Rally Demand Zone
After moving to the upside for very long time on all time frames, we are witnessing a great reversal pattern on this pair referring to a big change in the main direction of this pair.
the pattern is double top on the 4 hours timeframe.
we can enter a sell trade on this pair directly or we can wait for a little re-tracment and retest of the neckline, from there we...
GBPJPY: Ranging Between 188.000 and 189.590
Based on the analysis done, we expect GBPJPY to range between 188.000 and 189.590 in the short term.
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GBPJPY is ranging. Traders should be cautious and wait for strong bullish or bearish signals.
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#GBPJPY #forex #technicalanalysis #priceforecast #forexsignal
This trading strategy is primarily anchored in the concept of the order bloc. At the 188.156 area, there exists a significant potential for price reversal, prompting a retest of the last price injection. I was stopped out on the initial trade idea. Moving forward, I'm presenting my second and final idea for the day. The market this week is particularly volatile...
