GBPJPY Trading Plan - 25/Nov/2022Hello Traders,
Hope you all are doing good!!
I expect GJ to go Down after finishing this wave.
Look for your SELL setups.
My charts explains the reason if you are aware of the wave analysis. If not, then contact me and I can patch you up with the right people.
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.
Gj
intraday scalp on GJAs we have covered in the previous post the bias for GJ over the next couple of days is bullish, During the NY session Price pulled back to test previous Asia resistance/ 30m structure, with a rejection and decent bullish volume we have an entry with a risk to reward of 1-3. Entry taken on 5m time frame largely visible double bottom at previous Asia resistance.
GBPJPY bulls GJ has held a price range between (168.78 being the upper limit and 159.5 being the lower limit) for roughly 110 days. We have seen out first break out of that to the downside was met by enough bulls to push it back up into nearly the middle of the previous range, with these bears answered I look for the bulls to continue up towards the top of that range to test its waters. This is just an overall bias on GJ for the next couple of days.
GBPJPYDear traders,
As I have been accustomed to in recent months and this time my technical analysis had an accuracy rate of over 95% and I will try to continue to keep this percentage as long as possible
As i said last weeks ... GJ retested the area of the trend line from where it rejected and stick to the same idea of massive SELL in the next period
just a weekly close above the trend line will make me consider a new BUY!
THIS WEEK...GJ rejected and closed the month below the trend line as I said and has already made 400 pips from the 700-1000 forecasted a few weeks ago!
Even if it retests the trend line, I am waiting for GJ at my final target in the next period ... 148,200
NOTE: Please, give a LIKE if you find this idea useful!
GREAT ATTENTION:
*This information is not a Financial Advice.
Can we expect a recovery in volatility?We can see from weekly that volatility became apparently small since 2017.
weekly
140.000 - 155.000 Both of the upper and lower of the range are blank.
Therefore, if you go outside one of the upper and lower ranges, it may be possible to expect volatility to recover.
Since it is the most recent range, I will aim for both long entry and short entry as usual.
<< tactics >>
If MPP (P) 146.041 functions as a support line, think long entry.
The first limit is under YPP (P) 140.077
The second limit will be decided based on WePP next week.
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
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