Uptrend has been going up for too long without a break. Time for some retracement, or possible reversal. Potential for 200+ pips profit
Looking at the 3 months time frame and we can see that we are at a strong supply zone! Also the fibs lining up perfectly. I'll be holding this position for long time since trading higher TF. Bank of Japan will mostly intervene coming days and we shall see a sharp drop by next Friday! We are trading at 2007 levels and extremely overbought.
The GBPJPY is presently experiencing an upward trend and displaying bearish divergence, signalling a possibility of a reversal in the trend.
According to the behavior of the price in the current resistance range, possible scenarios have been identified. It is expected that a strong upward trend will be created by crossing the resistance trend line
Day is swing bullish 4H is swing bullish => current is pullback dow We buy when the price passes the strong swing peak of the 15-minute time frame
The Japanese yen keeps to stand vast demanding situations because it hit a 34-yr low towards the greenback, with little expectation that the Bank of Japan (BOJ) will improve hobby costs at its meeting. upcoming coverage on Friday. The significant bank, which has no forex mandate, is beneathneath growing strain because the weakening yen influences inflation via way...
GBP/JPY is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 194.91 which is a pullback resistance. Stop loss is at 195.47 which is a level that sits above the 127.2% Fibonacci extension level and the pullback resistance. Take profit is at 194.14 which is a pullback support that lies above the...
GBP/JPY remained bullish, strongly bullish on candles from the weekly uptrend, reversing the candlestick pattern when rejecting support levels. There is also no major news tomorrow, and profit taking on local resistance, profit taking in the daily ATR range. Buy/sell indicator confirmed, 2% risk, 1:1 risk ratio
GBP/JPY is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 195.44 which is a pullback resistance that sits above the 61.8% Fibonacci retracement level. Stop loss is at 197.55 which is a level that sits above a pullback resistance. Take profit is at 191.71 which is a pullback support.
The market seems to be consolidating but after using patterns and chart analysis I forecast the market being bullish for a Swing Trade.
www.tradingview.com Elliott Wave Analysis: GBP/JPY on 8H Chart Wave 1: Initiated at 188.661, marking the start of an impulsive bullish wave. Wave 2: A correction to 178.480, representing a natural retracement after the initial surge. Wave 3: Ascended to 200.398, typically the longest and most robust wave in an Elliott Wave sequence. Wave 4: A minor...
I want to see price tap into the Daily SUPPLY ZONE for an ultimate swing to the DEMAND left after the break of structure on the DAILY TF. I'll take my entries ag the change of character on the lower time frame
GBP/JPY is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 195.44 which is a pullback resistance that sits above the 61.8% Fibonacci retracement level. Stop loss is at 197.55 which is a level that sits above a pullback resistance. Take profit is at 191.71 which is a pullback support. High Risk...
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191 taken over again opened the larger view of 195_196_197 . We can expect liquidity to be grabbed if not stable above 190.94/191. Entry 191.288_191.35/500 Sl 30 LSE:BUT I wont do that its just a important level188/187.2 I see it going higher on take profit from most buyers unless news will.be the thee main driver of the trend reversal since 140
Technical Analysis: 1- After break the trend line Resistance continue the upward trend with trend line support 2- Feb Ret 1.272 is important point for continue the trend 3- Dow theory HH, HL follow the upward trend 4- RSI also indicate the upward trend Fundamental Analysis 1- Entry on first breakout of green signal 2- Seasonality shows the bullish trend in...
We received a 5min confirmation entry - and checked all the rules... Applied them with nice tight SL and Grabbed 250point from GJ move higher.
It is expected that a trend change will be formed in the current resistance range and we will witness the beginning of the downward trend. If the price crosses the previous ceiling range, it will be possible to continue the upward trend up to the specified resistance levels