Setup looks decent, ill give it a go if this bouncing candle has any follow through
Good risk reward ratio.... stops a 193.60
Currently following an Inner Train Track, RSI Trend line has broke and remains above the 50 Level I think it will follow the main Train Track and carry on rising i have also drawn a possibility for the opposite. Long TP 194.5 Short TP 191.8
We saw a run up in all GBP pairs the last week and i believe it is now exhausted.. Im expecting a sell off to happen but still hold a neutral bias in the overall short-term in the near future for this pair Expected Price Target is around 190.20
Again another trade in line with today's momentum. Same analysis n rationale as for all trades for today. Expected Target 191.51
Short @193.23 (Golden Ratio=61.8%) TP Target 1 @ 191.62 TP Target 2 @ 190.62 SL @ 194.50
The British Pound turned lower against the Japanese Yen as expected, breaking support guiding the uptrend since mid-April. I entered short at 192.83, initially targeting 190.91. A stop-loss will be activated on a daily close above 194.33. I will take profit on half of the position and move the stop to the breakeven level (192.83) once the first objective is...
I am looking to go long on GBPJPY after price has tested several areas of confluence at the end of last week. Price has rejected from the support level which was the previous high from Oct. It also conincides with the ascending trend line and close to the 200 EMA. We can see price has respected the 200 EMA on several tests in the past. I will wait to see how...
GBP/JPY short to 179. Strong selling pressure towards end of last week. Price is at key support level so we may see a pull back to 182.500 before a move down. Keep an eye on the price action when the market opens on Sunday night. I will wait for break of level prior to entering trade. Target level of 179.00 This coincides with ascending trend line, 200EMA and .618 fib.