ApexFX_
Short

GBPJPY- If you continue to hit a wall what happens?

FX:GBPJPY   British Pound / Japanese Yen
Exactly as the title suggests. Now a lot of 'traders' and people who want your money to sign up with their broker so they earn money off sending you some rubbish. You may earn some profits off their signals but ultimately they make money when you lose money so just think about that before signing up to someone.

Now back to my title. A lot of traders will tell you, hitting the trendline only strengthens it. Now I do not believe that, If you go to a wall and continue to hit it what's going to happen? It'll break. So this whole story of it'll get stronger is rubbish. Time and time again more than likely after the 3rd touch of the TL you will probably see a break. In the instance this doesn't happen no problem you accept the loss and move on. I'd say 85% of the time you will see a break though which is the edge we have on the market.

So looking at our chart this is what we can expect.

If you need help or want to ask any questions, drop me a message let's see if we can give you hand :)

Comments

Not the cleanest trendline. Still GJ is battling the 135 level.

Watch for a stop hunt up before the trendline break.
Or a rise altogether
+4 Reply
It keeps on touching 135.00 level, think it will break up long or go short now?
+1 Reply
ApexFX_ LE0NFIRE
@LE0NFIRE, agreed. PERSONALLY think we will break the trendline it's hard to trade the pairr when it's bouncing around a level. Bias to say short still and that the trend will break
Reply
LE0NFIRE ApexFX_
@ApexFX_, that's good to hear, got a sell at 133 and it just wont go down to retrace or anything...
Reply
Spotted this using the Gartley however it seems to be playing hard ball :/ let’s hope she drops
+1 Reply
ApexFX_ DarrenMilligan
@DarrenMilligan, I know. Certainly a level that is deciding what it wants to do. I'm still bias short
Reply
@ApexFX_, hopefully wake up
Tomorrow morning and she will
Be away, 🤞

The fib ratios line up excellent as does the D point however I expected a drop much sooner, only time will tel my friend
+1 Reply
ApexFX_ DarrenMilligan
@DarrenMilligan, yeah I imagine when we wake up (UK Time) that we should see some movement to allow us to get entry
Reply
Depends what im hitting the wall with? haha. Nice trade setup and clean charts ;p
+1 Reply
If you keep knocking on a door... someone will eventually open it?
#i like your TA and no BS approach. Just saying if your having ago against people asking others to sign up to shit (which I agree with you sucks) can’t then also be guilty of sticking in random phrases
+1 Reply
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