Waiting for the breakout or the rejection after a 4h close from the 38.2%
26/06/2023 - 1 Hour TF GBPJPY has been in a Bullish trend for quite a signifcant amount of time consitenly making Higher Highs as well as Lower Lows. Supported on the Weekly, Monthly, Daily & Hourly timeframes. Despite recent Bearish breaks we are looking for potential buys as we kick of the trading week. Recent news articles also points to a potential...
I executed a sell trade for GBP/JPY on April 21st, 2023
Manually closed. Not liking how the market is moving but those that are confident in the movement can hold on. I'm out and I'm going on about my day
GBPJPY is set for a continued rise in price, Possible Target $75 price level
My bias,the market was overall bearish before the change in trends as a result of the double bottom chart pattern at around the .0 Fib level. The latest cut of crude supply to the global market by opec will bring a rise in oil price up to 1500 Pips,ie price from current to $97 and a brief pull back before rising to $10. The would likely play out as sanctions on...
I'm staying clear and far away from any GBP related pairs, due to the statements made by the IMF. I don't really care about moodys (I'm in the research process of them, due to finding out that Berkshire Hathaway actually has a stake in moodys). How the country is reacting to Russia, lizzys death and new leadership is allowing me to watch and wait.
The market is playing out close to how we said it would. I'm watching and waiting for the market to break impulsively and retest before entering.
What I am potentially seeing, what could happen. Markets are still confusing me in England so I prefer certainty. Friday, I took many trades but they were short trades and didn't last too long. I'll try put the picture up.
Honestly confused, especially with the England climate so I've closed all trades and decided to take a backseat.
Not too much to explain but those that see, do. Those that don't I'll come back to explain, kind of caught up with some other things.
Still running but SL is in TP. We running quite well and very strong. So sleep on it and let it hit TP ............or SL (which should be in profit)
A bit late to enter the buy I waited for but those that have taken it, well done and very good spot. W/ Double Bottom, whichever you see I'll either wait for completion or pullback & consolidation whichever comes first before entering.
Close under this blue rectangle will result in a push all the way down. Even after the close down. we will wait for either an impulse downwards or retest which bounces and stays below.
SL of the earlier trades has hit, but because earlier we had UJ we still up. But we need to watch it over and see why we got on the wrong side. Watch and WAIT
These are my ideas as to whats going to happen after the close and retest is done. So either entry will depend on your trading plan, that's why both entries have different SL. It is to accommodate my trading plan and my RR which I follow, STICK TO THE PLAN (YOURS THAT IS).
Good thing we didn't enter it at the time we saw it, or else we'd have heart palpitations. It would've either hit the SL or come close to because of the large movements. Now we wait for the retest of the blue rectangle before we hop on and ride
Be careful of that euphoric feeling of being on the same side as the market. Don't over trade, lose RR, forget about your trading plan, after those wins close your laptop and sleep. I'm still here because this is what I am willing to let my life be. I'm seeing a possible break to the upside, and because here in South Africa it's about to be Midnight; spreads go...