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GBP/JPY Trading Strategy - Buy to 194GBP/JPY Trading Strategy - Buy to 194 I. Technical Analysis 1. Overall Trend On the H4 timeframe, GBP/JPY shows signs of a bullish reversal: The price has broken through the previous resistance zone 190.4 - 191.0 and is holding above it. EMA 33 & EMA 50 are starting to slope upwards, indicating an uptrend. Volume is increasing as the price bounces off the support zone. On the D1 timeframe, GBP/JPY is recovering from a correction, aiming for the next resistance zone 194.0 - 194.2. 2. Key Support & Resistance Levels ✅ Strong Support (Potential Buy Zone): 190.2 - 190.4: Newly established support after the breakout. 189.2: Strong support; if broken, the uptrend may be invalidated. ✅ Target Resistance (Take Profit - TP): 194.0 - 194.2: Significant resistance on H4 & D1 charts. ✅ Trend Confirmation Indicators: RSI > 55, not overbought, still has room to rise. Volume increasing on price rise, confirming buyers' control. II. Trade Setup 1. Entry Point BUY entry when price retraces to 190.4 - 191.0. Split orders: 50% of the position at 190.4. Remaining 50% at 190.0 if the price continues to correct. 2. Stop Loss (SL) 189.2: If the price breaks this level, the uptrend is invalidated. 3. Take Profit (TP) TP1: 192.5 → Close 50% of the position and move SL to breakeven. TP2: 194.0 - 194.2 → Close the remaining position. 4. Risk/Reward Ratio (R:R) Average Entry: 190.7 SL: 189.2 (-1.5 pips) TP: 194.0 (+3.3 pips) R:R = 2.2:1 → Favorable risk-reward ratio for swing trading. III. Risk Management & Market Scenarios 🔸 If price moves in our favor: ✅ When the price reaches 192.5, move SL to breakeven to secure capital. 🔸 If price drops to 189.2: ❌ Exit all positions as the uptrend is invalidated. 🔸 Key signals to watch: ⚠️ If price surges past 191.8 without a pullback, consider waiting for a retracement before entering. IV. Conc...... BUY GBP/JPY at 190.4 - 190.0, TP 194.0, SL 189.2. Good R:R ratio (2.2:1), suitable for swing trading. Holding period: Within this week, monitor closely. Welcome Follow Me, Thanks!
Long
by HungDaoGlobalTrading
AUD/USD: A Third Wave "...Wonders to Behold..."Prices advanced in five waves from 0.6477 to 0.6667. This wave pattern is significant because impulse waves identify the direction of the larger trend. Thus, the five-wave advance in AUDUSD implies further buying to come that would push prices above 0.6667 as wave (iii). The subsequent decline that is developing in three waves supports this analysis. Counter trend price action typically consists of three waves, so we expect another move up. Moreover, the three-wave decline travels to 0.6550 to retrace 61.8% of the previous impulsive advance. 61.8% is a common retracement for corrective waves especially when they occur as wave 2 of an impulse or wave B of a zigzag correction. Also nearby is 0.6558, the price level at which wave c equaled wave a, which is a common Fibonacci relationship between wave C and A of zigzag correction. Also adjacent is 0.6560, the end of the fourth wave of one lesser degree. As a guideline, corrections tend to end upon reaching the end of the previous fourth wave of one lesser degree. Besides, the correction is unfolding as a Zigzag A-B-C with a triangle characteristic in the b wave position as is common. Also, the correction neatly adheres to the parallel channel with wave c hugging the lower boundary of the channel. These cluster of evidence suggests that prices are approaching an important juncture and a reversal to the upside is on the horizon. If so, then a break above 0.6629 would virtually indicate the correction ended and the next significant move is to the upside. Trading Plan Entry : Buy at market. Protective Stop : 0.6477; in an impulse wave 2 can NEVER retrace 100% of wave 1. Target : 307 pips i.e ((0.6667-0.6477) X 1.618) In an impulse, the third wave commonly travels 1.618 times the length of the first. Risk-to-Reward : 1:3
Long
by Aquanet_Market_Forecast
2
USD / CAD TECHNICAL OUTLOOK1) USD /CAD moves downside to 1.3700 on weaken US Dollar. 2) The bearish outlook for USD / CAD remain below the 50, 100 AND 200 moving average ( 1 hour TF ). 3) Major support level seen at 1.3655. Technically, the bearish outlook for USD/CAD remains intact as the pair holds below the 50- and 100-day Exponential Moving Averages (EMAs) on the four-hour chart. Additionally, the Relative Strength Index (RSI) is located in the bearish territory below 50, which means the path of the least resistance of USD/CAD is to the downside.
Short
by tradewith_ritik
XAUUSD GOLD SUPPORT AND RESISTANCE LEVELS 25-07-2022FOREX GOLD XAUUSD SUPPORT AND RESISTANCE LEVELS || 25/07/2022 GOLD SIGNALS FOREX LEVELS TODAY TODAY GOLD LEVELS BUY SELL GOLD #forex #gold #technicals Mercury Technicals is not an investment advisory service, or a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. warning: Note! The Analysis video shared here are for educational/informational purposes only.
OANDA:XAUUSD
by Ravi_forexTrader
AUDUSD:CASE OF ENDING DIAGONAL Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1. Properties Of Diagonals: Diagonals can be contracting or expanding type being expanding diagonal a rare one. In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2. In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2. Types Of Diagonals: LEADING DIAGONAL ENDING DIAGONAL LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern. ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal began. TRADING STRATEGY: Buy AUDUSD with SL of 0.66800 (clbs) and look for the upside targets of 0.7000/ 0.71000/ 0.71800
Long
by TradingSutra
5
USDJPY: A DIAGONALTheory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1. Properties Of Diagonals: Diagonals can be contracting or expanding type being expanding diagonal a rare one. In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2. In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2. Types Of Diagonals: LEADING DIAGONAL ENDING DIAGONAL LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern. ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal began.
Short
by TradingSutra
1
USDJPY: Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach)
Long
by TradingSutra
7
EURUSD Trading Plan - 19/May/2022Hello Traders, Hope you all are doing good!! I expect EURUSD to go down after this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Short
by For3xScalper