OANDA:GBPJPY GBPJPY Seems to be in the bull mode with confirmation from the moving averages longterm. On the daily chart we can see that price has broken the trend line and has potential to break to the upside. Scalping entry on shorter timeframe
This pair is still long term bearish but may present a long opportunity for the bulls. Bears are also close to entry on the double top right now. Will have to wait for more price action with both sides presenting good opportunities after a strong recover of bear gains last week.
Price has been pushing higher inside of a falling channel on longer time frames. Rejection from falling resistance above followed by break of trend Looking for sells on 1hr time frame going lower
We start by creating a visual for when all moving averages are in order and across the 200 moving average . In this example, I have used a vertical line in the colour of our bias direction, Long(Green) , when this condition has been met. We now have an increased confidence by filtering out trade setups that do not meet our bias giving a higher probability...
- Break to the upside - Hold for the next higher high
- Must break the downtrend - Must confirm uptrend movement - Price action will be key
- AT A STRONG LEVEL OF SUPPORT - CHEAP PRICE TO ENTER - SUPPORT HOLDS FOR RECOVERY TO HIGHS
- Strong momentum to the upside - Entry earlier today off the 382 predicts 618 extension - New targets at 65k+
- 382 fib level - Support - Higher high - Low-risk entry level is now
- Only the strong will survive this long-term market - Will NIO be a major player? - Hold for a break above 46 region - Buy the retest when price does break - Some positive news must be the driver for this market as other EV producers seeing struggles - With continues price hikes on commodities, we may see struggles
- Speculators have suffered losses from major profit-taking - If speculators are to push this higher, they must break above resistance - Hold for breakout - Buy the retest - Trade with caution as this market is driven by the major coins and speculators VERY VOLATILE MARKET
- Hold for confirmation of the breakout - Wait for the pullback - Enter low at support
- Strong momentum play - Double bottom higher high - Confirmation can be found on the breakout - Allow to pull back - Enter at support level PLEASE SEE ACCURATE RELATED ANALYSIS
- Hold for a confirmed close above the resistance level at the end of the play - Either buy the next daily candle or wait for a restest - Long-term target 68-70k region
- Slipped below 55k - Divergence remains valid on MACD - This is simply profit-taking - not the negative driver - Waiting for the test of previous support levels shown on the chart - Enter the long-term low risk PLEASE SEE RELATED AND OTHER IDEAS FOR ANALYSIS
- Currently, price is testing left shoulder support if valid - Previous swing high to validate the level - Higher probability of upside potential - Wait for break and retest PLEASE SEE MY OTHER IDEAS AND RELATED BELOW
- Divergence on the MACD - Break of short to medium downtrend - Overriding uptrend - Bearish USD bias - Bullish GBP bias
- Price approaching support - Higher high on the breakout - Targets set above