As I have already had a very good day, I decided when GJ broke resistance to use the 15m timeframe for confirmation, the reason being I had a lot of profits to use as leverage.
When support formed on the 15m, I took a buy entry as the new 15m candle broke the high of the previous candle, with stops below that candle.
As price went up into 10 pips profit, I...
I had already highlighted the two potential setups, buys were preferred as the traffic above to the left was much cleaner to our target at the next resistance zone.
Price broke above resistance on the 30m timeframe and before entering, I waited for support to form on the 15m timeframe.
Support then formed so my next job was to wait for a confirmation for my buy...
We are trading in a 25 pip range, as we know it is not a good idea to trade in an Asian range.
1) If we get a clean break of 136.365, wait for support to form on lower timeframes before looking for buys to test resistance at 136.750. It is a good sized range to fill with clean traffic so buys are preferred if an opportunity arises.
2) If we break support at...
Clear downtrend with the top blue trendline
Currently struggling to close above the weekly 38.2% fib level (see last week wicked to a pip)
Clear Head and Shoulders forming within the currently ascending structure as price moves to retest the top of that weekly falling channel- right shoulder should line up at daily resistance.
Today is the first Asian session of the new month. We have some decent options for GJ tonight.
1) If the current level is held we should see GJ move up to resistance at 136.450
2) If we see a break of 136.450, wait for support to form on lower timeframes to validate buys to fill a 35-40 pip range
3) If we do not hold the current level or we break it later...
We are looking for a break of support at around 135.350-00. If this happens we would look for a resistance to form on the lower timeframes before looking to sell back down and fill the clean range down to 135 flat. The reason I am not looking for buys is that the upside is very choppy and there isn't a clean range to long into. However if we respect the support...
BOE negative rates.
Boris corona announcement.
Local lockdowns and 10pm curfew in UK.
Strong downtrend on HTF.
GJ my bae. GBP melting.
Long term target 132.000 for reversal.
Will partial TP on way down watching PA.
Price has been consolidating in a very tight range after breaking a channel illustrated clearly on the chart, arguably forming a bearish flag which may break down to entirely break structure offering profitable short positions. Furthermore, the 200EMA on the hourly chart (and daily) is showing bearish momentum. Alternatively, price is rejecting this lower...
⚠️ GBP/JPY ⚠️
Literally my favourite pair, it can make or break your account.. trust me I know.
GJ has made a double top on the 4HR, 1D, 1W time frames, you can see there was a similar reaction at the beginning of June too, before it pushed down, we may be able to scalp a quick 50 pip move back to 139.000 as I’m sure it will reach. Hoping for it to get to...
GBPJPY approached green zone (support resistance/supply demand), broke it and came to my stophunt zone (red) because I know there are pending orders at that level. Waiting for price to either respect the ltf support zone (grey) or come back to the ltf resistance zone (grey) and either respect it or break above it so that traders can get better price to...