GBP/JPY Ranged today the entire day moving up and down the ranges giving a choppy price action.
Analyzing from the monthly time frame we seem to have created a top wick and seem to be favoring the downside. Weekly has created resistance and now seem to be going to the downside. Since Wednesdays move coming down we seem to looking forward to do a correction to at...
Based on previous analysis of GBPJPY, the trade came out to be a winner. Target was 300pips but market printed 275 pips (satisfied).
Usually I close my trade if the moment on intraday changes from the desired to unwanted, thst means in this case the desired momentum was bullish but at a certain time the market started rejecting download (bearish momentum...
in this area i used a secret indicator to find next momentum in htf and then i went to smaller tf and then drawn a fib and then runned the sl to 0.0 coz the htf zone is at that level i think it amay fail because our sl must be above the area of level
GBP\JPY was an amazing trade i took in london session preetry basic setup formation on 30 min timeframe and price had rejected that area 3 time in past really good 50 pips there if you ant this kind of signal DM me
Pound against Japanese Yen pair, has a bearish outlook from technical view this month, no exceptional of the downtrend this week too,
it has strong resistance of 152.250 or 152.500 zone, this area pushes the price down further in the coming week 151.750 area..and a down wedge pattern also support this bearish scenario..
GBPJPY has been respecting an upward trend for quite a long time. Now it has reached a major resistance and formed head and shoulders, which confirms the fall has to come.
This is the setup of the previous video on GBPJPY.
If GJ makes a head and shoulder pattern, then looking for a strong sell position.
Daily price is in uptrend and 4H timeframe is in downtrend.
Use proper risk management
Thank you
