Okay so, gbpjpy formed a W pattern on the daily chart and whenever such formation happens we want to see the prices to test the neckline of the W.
So, we will be looking for a short position if the rules of our strategies satisfied. I also suggest you to keep this pair on your watchlist and see if your rules satisfies...
Plus from COT data we want to see a...
GBPJPY is currently sitting at 140.000 , a significant key area in the market and on the 1HR time frame we can see market forming a triangle pattern. Market now is squeezing more tighter and we can see a possible break to the up or downside.
For entries we have two different levels marked in pink area . We can get a possible entry on these levels with...
Hello Trades, Welcome back to another GJ analysis.Overall bullish trend, so positively our buy entry shall give us a good result.Ensure that you use proper risk management with given StopLoss .Please feel free to Message me for your account growth and profitable trades. Account management is offered .Thank you.
Hey Traders, Welcome back!Hope you all are doing well. As we can see GBPJPY is in a upward trend, the price shall make a move back to current support level for a retest and then we can enter the market in buy side for a good Risk Reward Ration of 1:4 .
The 4-hour turning down with a bearish sequence against the 6/05/2020 highs at 139.74. The 1 hour is turning down against 134.69. While below there expect the pair to extend lower.
The 4-hour right side is turning down against 6/05/2020 peak (139.78) & shows a bearish sequence. 1 hour is also down against 136.34 high & shows a bearish sequence. Near-term, while bounces fail below 136.34 high and more importantly below 139.78 high expect pair to extend lower. We prefer selling intraday bounces in 3, 7 or 11 swings against 136.34 high in the...
Technical Analysis- The 4 hour right is turning down against 4/09/2020 peak (135.74) but shows a bearish sequence. 1 hour is turning up. However, while near-term dips remain above 131.44 high expect pair to extend lower 1 more push before cycle from 4/09/2020 peak ends & a bounce higher in 3, 7 or 11 swings could take place.
Signal- Long GBPJPY
The daily is turning up against the 126.54 lows from 8/11/2019. The 4 hour right side is up from there. The hourly right side is down against the 144.97 highs. While above 8/11/2019 during the current pullback expect the pair continues higher again.
The 4 Hour right is up against 126.54 low from 8/11/2019. The cycle from there in wave (A) ended at 148.07 . The correction of the cycle lower from there ended at 144.60 & while below there another swing lower in wave (B) to correct the cycle up from the 8/11/2019 lows can be seen. While above there expect the pair higher again.
The 4 Hour is turning up against 126.50 low from 8/11/2019. The cycle from there in wave (A) ended at 148.07 . While above 140.81 a bounce to correct the cycle lower from there can develop. While below the 148.07 highs another swing lower in wave (B) to correct the cycle up from the 8/11/2019 lows can be seen. While above there expect the pair higher again.