GBPCAD - Daily chart perspective. This is the expectation. But before it takes off to either side, my expectation is a prolonged correction.
Of course if price breaks out of the structure, I will look for trading opportunities. Until that I will trade small movements within the structure.
For the past 55 days price action for FX:GBPJPY0.64% has declined just shy of 2,000 pips from 188.75 to 169.15 while beginning to possibly slowdown near levels not seen since October 2014. The massive decline is currently very extended and can possibly experience a bit of profit taking in the near term.
Trade Idea: I will look for bearish corrections on a lower...
As I showed you in yesterday's video, the fun thing about trading is the fact that we are constantly updating and adjusting our analysis to go along with the recent price moves.
The recent moves on the GBPJPY have eliminated my harmonic predictions, yet have opened up a new opportunity in the form of a second advanced pattern.
Akil Stokes
Chief Currency...
Hello Traders!
As we promised for some Traders, there is the GBPJPY daily detailed forecast by the EWA/EWP analysis!
Excuse us for the long wait.
By popular demand, we present you, 3 additional video-forecasts within GBPJPY currency pair.
GBPJPY - FORECAST! (1-st variant) - youtu.be
GBPJPY - FORECAST! (2-nd variant) - youtu.be
GBPJPY - FORECAST! (3-d...
GBPJPY currently strugling to break between 100pips of its high-low position, strong support at decision area giving me idea that the pair is going to continue climb and break the resistance. However i would be more cautions if the price comeback again at decision area. It could be a downtrend continuation. Always lock position at 30 pips
Hello guys,
This is my second analysis. So don't judge me. It is simply an Idea.
As you can see in the chart, there is a beautiful flag formation. However, it is a crucial moment.
Will the price break and go down and hit the possible flag formation target which is around 179.100 - 179.000 or the Support area will hold and send the price up again?
I honestly...
Buy opportunity on the AB=CD pattern formation, first target 182.00,second target 183.00,third target 183.90. S/L at 179.85.
-RISK DISCLOSURE-
All traders should take their trade in their own risk, I do not hold any responsibility.
Hi all,
Here is our thoughts on GBPJPY: - Long
Reasoning:
Daily
Overall biased is still bullish - Price is above EMAs 50 & 200
Rejection at key zone @ 193 = 0.236 retracement on Fib
EMAs 8 and 21 crossover on daily and price pull back to EMAs 8 and 21 zone (entry for long)
RSI (14) 58 and CCI (20) 74 = Buyers territory
Bullish reversal candle on 4hour
...
PRICE MAKING HIGHER HIGHS AND HIGHER LOWS INDICATING THIS UPTREND IS WELL INTACT. TRENDLINE IS ACTING AS A GOOD SUPPORT SO IF WE GET A PULLBACK INTO THE TRENDLINE/189.000 THEN THAT WILL BE A GOOD LEVEL TO GO LONG. IF PRICE BREAKS RESISTANCE THEN THAT WILL ALSO BE A GOOD CHANCE TO GET LONG/ADD POSITION
I am looking for a short untill 183 area, which is point 4 of the wolfe wave. From there I would like to buy if the falling wedge in RSI breaksout north. Targeting at least point 5 and maybe even the sweet area in the wolfe wave.
Once arrived there I believe we have a lot of pips to be made at the sellof.
