GJ (GBP/JPY) formed Double tops and divergence in my macz-vwap and daily chart, DeMarker and CCI's is highly overbought showing for trend reversal. Momentum squeeze and Momentum stochastic is beginning for the bear candle-stick expected to bounce below mtf ema again. Look at day's range and wait for ema to be above you rsi line for a good entry and confimation....
GBPJPY has melted all the way down to 140, which is a Major Support Level. I do believe a retracement is overdue. If the blue zone gets broken to the upside then I do see 142.50 and potentially 143.50 being met.
chart is pretty clear, this is the 8th time we are testing this area. already TP1 and 2 on previous trade and looking to re-enter. we may expect some drawdown, but continued political uncertainty should way on the pound. do keep an eye on upside break should BOE surprise and the global tradewar worries ease and equities (and yen) strengthen.
Here we have a demand zone on the Pound/Yen daily chart. I'm really liking this zone and think it will hold true. COT Data suggests that the GBP could be turning soon and that also is taken into account for this trade. Commercial traders have increased their net long to over 60,000 on the, taking profits as the Pound has been taking a beating, while large...
this pair will drop..... i think... the marekt doesnt love me :'D
Nice double bottom formed on the poundyen. looks like the pair has broken above the resistance and is on its second retest. Look for this pair to shoot off to the moon in the next couple of days. FX:GBPUSD
Just want to point out that GJ is approaching the 200 MA on the daily and the 4 hr. Watch the price action on those, should at least get a sell scalp off it. Look to retest level, might get a very nice sell if you let some ride (managed properly of course). It is possible considering all this pair has done is w-x-y'd for like... ever... Obviously it is long right...
As predicted, GBPJPY is slowly creeping towards my Take Profit which is at the previous high level 148.000. When price reaches this level, I will bank the remaining portion of my position and look for signs of supply for a short setup. This setup will take place in the form of a bearish structure formation and I will enter the short upon confirmation of the...
Weekly Block/Supply Midpoint, Trendline Throwback. Goodluck
The pound just broke a resistance. i believe the pound is only going to continue to strengthen over the next week or so, but not after an exhaustion to at least the .618 fib levels, a safe bet would be wait until the pair has retraced back and wait for the next bullish engulfing candle to go long on the two. Set stop loss a good distance under the new support.
Hye guys, the consolidation looks like the price formed a bullish pennant. Cheers
Confirmation for the short has occured from a bearish rising wedge in pund yen. This chart pattern symbolizes a continuation to the downside , which has been confirmed by a break of the bottom support and a retest of the new resistance. This pattern could still exhaust after the price pushed down a bit more, so look on the smaller timeframes to find a good entry...
Hi All, Another set up Bullish Gartley on GBPJPY. Let me know if you need information on the fib ratios/questions. Goodluck
Gbpjpy - This pair has fallen into a strong downtrend since last month especially the monthly and weekly candlestick closures, expecting another 500 pips swing down for this pair moving forward.
Based on Weekly Price action for GBP/JPY we can see that This pair has broken a weekly Major Trendline and Retested the Area with some Choppy Consolidation and Rejection. A 61.8% rejection is also in line with Key weekly levels that also supports the idea that the -27% extension passed 140.00s will be reached. A quick glance over at the BXY will also show some...
I hate trading this bear when the Pound is so weak, but I shorted this pair at the top of the wedge @145.2 and we're now retesting the edge of the wedge again, we're consistently breaking lower lows, but it takes time to get there, takes ages to rise and then drops each time, just like this! 142 is the target, but with eyes on 140, this pair is hard-work, so...
If the market hits the orange tp then I will look for a higher close on a small time frame and get into this trade then sell off at a major trendline then back down short with the trend : if this changes then will need to reassess
Hello everyone At the moment a short of the pound yen could be going to the following levels before going back into the weekly trend however if we break these levels further south then will need to reassess what is going on Happy trading Kris