GBPJPY Bullish Fibonacci Analysis for 08-15 Jan 2024
Hello traders,
I’m Dragos, I’ve been trading the markets for 4 years and I’m a profitable trader.
I've been closely monitoring the GBPJPY pair and wanted to share some insights from my recent analysis.
Here's a brief overview of my findings:
1. Weekly -The weekly has changed to bearish at the begining of december, but daily trends are showing bullish signs, which aligns well with my analysis because the price is trying to reach the 61.8% fibonnaci retracement level.
2. Daily - Recently, I've observed the price is ready for a pull back to 60-100% Fib Ret area(or simply Swing Zone) before continuing it's bullish trend.
3. Post Non-Farm Payroll weeks often lead to more predictable market structures. I've noted a higher success chance in trades following this pattern.
While I've shared the broader strokes of my analysis, the finer details of entering and exiting trades are something I've developed over time. I encourage you to look at this analysis and consider how they fit into your trading strategy.
The red line is 6EMA projected from daily chart on any timeframe (this is a custom indicator I’ve made)
And the orange line line is 8EMA
Let's discuss and grow together!
Disclaimer: This analysis is a personal interpretation of the market trends. Always do your research and consider multiple sources before trading.
I’m Dragos, I’ve been trading the markets for 4 years and I’m a profitable trader.
I've been closely monitoring the GBPJPY pair and wanted to share some insights from my recent analysis.
Here's a brief overview of my findings:
1. Weekly -The weekly has changed to bearish at the begining of december, but daily trends are showing bullish signs, which aligns well with my analysis because the price is trying to reach the 61.8% fibonnaci retracement level.
2. Daily - Recently, I've observed the price is ready for a pull back to 60-100% Fib Ret area(or simply Swing Zone) before continuing it's bullish trend.
3. Post Non-Farm Payroll weeks often lead to more predictable market structures. I've noted a higher success chance in trades following this pattern.
While I've shared the broader strokes of my analysis, the finer details of entering and exiting trades are something I've developed over time. I encourage you to look at this analysis and consider how they fit into your trading strategy.
The red line is 6EMA projected from daily chart on any timeframe (this is a custom indicator I’ve made)
And the orange line line is 8EMA
Let's discuss and grow together!
Disclaimer: This analysis is a personal interpretation of the market trends. Always do your research and consider multiple sources before trading.