GBPJPY has hit the monthly bearish target early in the month and so we are expecting to see a nice rally up to the 134.000 level with a potential 500 pips on the table.
We have a nice 4 hour bullish engulfing candle so we are waiting for price to pull back into support before looking at long opportunities going into tomorrow.
Stops will be below the low and as...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=135.35.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=135.15.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
GJ is currently recovering after being bullish for the past 2 days.
Personally I see 137.50 being hit evetually.
But we have to keep in mind other possibilities.
If the trendline holds and the GBP regains its bullish momentum then I see this breaking the previous high and forming a new higher high.
If not then this will be heading down.
GBPJPY Daily time frame, 136.000 zone has been tapped off
We have some MACD convergence
Going to wait for daily closure, a hammer formation / dragonfly doji would be ideal to see for buy orders to kick in!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
Can you tell us why you think price will bounce at our green zone? post your answers below... winner will win a pink unicorn called Fred... I bet you all want to enter now ;p
We keep saying it but SIMPLE is BETTER in forex trading! we will drill it in to your heads sooner or later.
Anyway the winner of the competition will have to collect the unicorn from the...
GBPJPY have come out of the Downtrend Zone .
Volume are gaining the momentum.
SAR become Positive
Price started holding HH after the reversal from LL.
As per the LongBuyLongSellIndicator in the many of the timeframe the price is in postive longside.
Also the trend in up side ,Soon we will get the 138.100 price range as per the chart.
Do your own analysis... if...
Expecting a break of structure past the 137.900 (previous HH) level to the completion of the bat pattern at 138.600 which is within the 88.60% and 1.618% point of the D zone.
From there I will be expecting a minor retracement (50.00% or 61.80%) to TP1 which is point B of the pattern, from there I will be looking for signs of a trend continuation to enter long...