Price continued to respect the downtrend line created after GJ had made a new high, and dropped 200pips on Thursday 4th November following the BOE hold of interest rates. Price closed the week at a strong previous resistance level
Although my overall bias is bearish I am expecting price to either
1. Retrace UP to the downtrend line and reject it in between the...
Price action broke the downtrend structure and created a higher high last week and a higher low
Put an uptrend Fib on the recent daily high and price closed @ the 618 level on Friday, if price breaks 154.24 then expecting price to continue to next resistance at 156 with uptrend structure, HH's + HL's
News this week
JPY - Bank holiday - Nov 23rd
USD - Prelim GDP...
GJ is on an uptrend on the weekly time frame within an ascending channel
On the daily timeframe - GJ is pulling back from highs and is trending down
3 Trades Ideas for GBPJPY
1. Bullish bias - If price rejects the previous resistance level @ 152.30 and past 153.30 (previous highs) then we would see a break of the downtrend structure and expect price to...
Zone to zone moves on GOLD -
US CPI news on Weds 10th will provide more momentum
3 buy targets if price continues bullish, expecting small pullbacks in between each move
Closure below 1812 for GOLDs price to drop back down to 1790
After a strong bullish move we can expect to see a pullback especially when GBPJPY makes new highs
Technical Analysis is showing a Triple Top Divergence being created on the H4 time frame.
Looking for entries after seeing bearish candles printed on lower time frames for the start of a pullback
Saw an inverse head and shoulders on GJ
Waited for price to start making higher highs and high lows and close above 150.10 - neckline
Previous 1hr support @ 150.46, price rejected on the 30min candle and closed below
Buy stop @ 150.50 expecting price to break previous high and continue up to 150.80
Closed 50% @ 10 pips, moved stop to break even and let the...
