Hi guys,
I took this trade a couple of minutes ago because it seems the pair is ready to push higher to its next resistance level which is a strong supply area (confluence zone).
Price is also currently above its pivot + VWAP.
I opened long my trade @ 135.740 and I will target the 136.400 area, so a potential 60+ pip trade.
If it breaks I will look for...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (134.85). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
I'm looking for potential shorts for this pair from now, previously my bias was bullish thus had taken a trade and i think it'll hit my TP.
Now as we see there is a bearish rising wedge so we can expect a bearish move from now.
#keep_it_simple
#SS_Forex_Analysis
the daily right side is down against 156.78. The 4-hour right side is up with a bullish sequence against 131.71. While above 138.20 where the hourly right side is up with a bullish sequence it can see a swing higher toward 147.38 before ending the cycle up from the March lows
Sell @140.90-141.10
TP: 140.10
Sl: 141.33
Good luck !
Price is forming a bear flag. Hence looking to enter short
Thank you to all those who have sent me private message and been following me.
Hope you have understood how simple it is to trade forex with out any support/resistance lines or lagging indicators.
And started to earn good profits as I have told you on what to do.
Please Note:
Just knowing the direction...
Price has clearly formed a falling wedge pattern and looking to enter LONG.
If you notice yesterday the price was impulsively going short but that was clearly only to take people at the wrong side of the market before shoot up.
Because seeing the heavy momentum to the downside people will think price is continuing lower.
But a professional trader knows that this...
Will wait for a bear flag formation before entering short
Please Note:
Just knowing the direction of the next move will not help being profitable.
There is a lot more to it with regards to the entry technique and successfully managing the trade after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100...
Looking for a bear flag formation before the major drop
Please Note:
Just knowing the direction of the next move will not help being profitable in the long run.
There is a lot more to it with regards to the entry technique and trade management after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100...
Price has clearly been forming a head and shoulder pattern and also it is inline with the HTF structure.
Entry was after a bear flag was formed following 6-8hr candle.
Its correlative pair GBPUSD is also inline with short setup (refer to my GBPUSD setup)
Overall the R:R also fits my trade set-up.
