This is not a perfect head and shoulders - and it is rather unusual to find a perfect pattern. I say what I see:
1. One big H&S on GBPJPY (1D).
2. Price had collapsed south from the base, almost the distance of the head.
3. Price is re-challenging the base at an important structure level.
There is an opportunity here for a controlled affordable loss (alias...
GBPJPY Possible short trade set up. We appear to be working and A-B-C zigzag coming off the wave 5 high at 148.000. This interpretation suggest we should in the short term see a move lower to test the 139.00 level for support. Wave 4 of the previous 5 wave move failed to break support at the 139.00 level. The 38.2% Fib retracement level of the move up from the...
so price is slowing down at the moment with this pair but on the daily time frame this looks clean we're a bit away yet from reaching this double top area which is a really strong area as we have been bouncing of that resistance for some time now but with the way we are moving and
giving the corrective price action this could go early
Similar to the GA trade I posted yesterday, we've already hit 1 entry point on the D1 50% but I am looking to get a higher entry at 144.000 to mitigate out of the H4 open order for a big swing to the downside
Long term swing trade set up on GBPJPY
Daily bullish TL held strong.
Daily 50ema being respected.
Looking for higher highs to be made over the next few weeks.
Full analysis on my blog diaryofafinancekid.com
Time ran out, did not get chance to show analysis on oil, will send it to the telegram below.
Loads of great set ups in the making here, hopefully the volume can pick up and we can get some clean entries.
t.me (Join now for free) won't know unless you try!
GBPJPY after sitting on a bullish trend we could expect some retest of lower lows as Brexit is very very close to the end the deadline date is next week so we can expect the market to be very volatile and given moment so we could expect at the lower trendline of a bullish scenario to be retested before another spike up towards new highs The second trendline is...
price is showing that we,re close to breaking out so we wait for the highest probability that would be back retesting the last highs first, but this still could break lower first so just be patience and see how this develops
i will check the lower time frames for any setups and keep this posted!