GBP JPYTrade is in profit.
Reason to take trade: inverted H&S pattern.
Use proper risk management
Thank you
(any questions regarding trading, feel free to message me)
JPYGBP trade ideas
GBP JPYGJ making inverted H&S pattern
possibility of Long (BUY)
BUY STOP
Entry: 151.280
SL: 150.642
TP 1: 152.598
TP 2: 152.867
TP 3: 153.309
GBPJPY daily chart 📈 As we know gbpjpy is in a channnel and this channel will be breaking to down side. before that we have to go up and test the channel high and all the way to down to 140 level, trade accordingly
Shorts on GBJPYAfter long time, again started the trades.
Expecting shorts after that big push on last week!
GBPJPY sell idea there is a big chance for short postion on GPBJPY after reachen the sell zone of shark harmonic pattern and we can see that the pair is breaking up the down trend zone and retesting the trend line
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 ... as I said a few weeks ago GJ made the 700 pips we announced and rejected from the target area number 1
Now, I expect a period of range and a retest of the trend line but at the first close even on 1 day below area 148 I will enter SELL until area 142
THIS WEEK...as I said in the last months ... GJ closes lower and lower and makes a range between my number 1 target and the trend line ...
I will try to trade in this area until closing even for 1 day above or below the area and then I will reanalyze the whole strategy
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GREAT ATTENTION:
*This information is not a Financial Advice.
GBPJPY IDEAAfter closing the month an the quarter with a solid bear candle , GJ now looks to break the daily support zone and then continue down. Since this is a Friday and a Month start I am skeptical about the push down. But then if we were to break the daily support today we can then set the trend for the week to come. I would be cautious trading on the support one as we have seen rejections multiple times and there are high chances of Price going against us if you are holding longer trades, Quick Scalps should do good for today.
GBPJPY IDEAWith the Pound almost continuing its downtrend on the ending day of the third quarter, today is going to decide the trend for the next quarter from where is price going to stop at the EOD. If the current monthly resistance zone holds strong we are looking at excellent sell opportunity as long as we break the daily support zone. As we have clean candles to the left to mirror we will then see huge selloff positions. Also on the daily we look to have formed the ascending triangle pattern. If the pattern indication is correct we can look for a huge breakout pretty soon and we should be watchful of it. Overall bias still remains short. Looking for sells once we come out of the no trade range.
GBPJPY IDEASince we have broken structure and created a lower low, I would expect us to continue the bearish trend. Also the overall Macro Economics of the the United Kingdowm being in turmoil with the Fuel Crisis, we may continue going down to the daily support if we manage to break yesterdays low.
GBPJPY: correction aheadWe can see a clear 5 wave structure on upside. This suggests that there should be a three a wave downside correction . One should go short on any bounce with SL of 152.6 for tgt of 151- 150.8 zone .
GBPJPY IDEARisky Outlook. Since we are in a pretty strong area of resistance. If and only if we can break the entire top zone can we then looks for buys. If not, it is my opinion that maybe we would do a fake out on the upside and then continue down.
LONG | Elliot wave 1 and completed This could be wave 3OANDA:AUDJPY
LONG | Elliot wave 1 and completed This could be wave 3
GBPJPY IDEAGJ tried and failed at breaking a key weekly support area and has now rejected heavily off of the Weekly Support Zone and has gone bullish with a strong momentum moving almost approx. 200 pips in a day on Thursday. Today is a weekend and I would be cautious trading the pair. Though past data shows that momentum did continue the next day with reference to the July 22nd move earlier. We are also fast approaching a bearish tend line on the Daily. If we respect the Trendline then we can expect bearish correction due to the extreme impulsive up move or break the trendline and do a retest and continue moving upwards as we would then have a break of structure.
GBP JPYBUY STOP (If it breaks H&S pattern)
Entry: 153.364
SL: 149.720
TP's: 156.063- 163.444
Sell Stop (making head and shoulder pattern in Daily chart)
Entry: 148. 805
SL: 151.000
TP: 142.575
Major Support ZoneFew points to note here now GBPJPY is in yearly low and also in a MAJOR support zone, so we can look for a long. Should wait for the candle confirmation to buy.
GBPJPY IDEAAfter a 175 Pip move yesterday into the daily resistance, we seem to have rejected right off of it and moving bullish. Though the overall trend still seems as bearish I would expect sells to be much faster than buys due to the overall trend on the higher timeframes. If trend is your friend and the way Bullish Momentum is being pretty slow, I would think that looking for sells below the Daily Resistance would be a excellent choice as post that you have clean candles to the left to replicate from and the overall HTF Trend then coming into picture in a better manner. For those who look for patterns on charts, we seem to have formed a Head and Shoulders Pattern and if that is any form of confluence then Sells are the way to go!
💡Don't miss the great sell opportunity in GBPJPYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (150.58).
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 a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 19.
Take Profits:
TP1= @ 150.18
TP2= @ 149.55
TP3= @ 149.19
TP4= @ 148.61
TP5= @ 147.89
SL: Break Above R2
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GBPJPY IDEABased on Fridays Analysis, We conferred that the overall outlook of GJ had turned Bearish. It looks like the the first 2 Weeks of the Monthly Candle tried and created a top wick and we did come down pretty hard on Friday moving around 75 Pips to the bearish side. As we now enter the third week, we will come back up to create a top wick on the weekly and should then continue moving down on the smaller timeframes to 149 Levels.
GBPJPY IDEAGBP/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 least 50% of the move and then continue going down to fulfill the monthly timeframes direction.
Personally i would wait for 30 min candles to close above or below the aforesaid range marked by the levels in the chart and the next candle to create a bottom/top wick before moving in the intended direction to take a trade.
This is not a financial advice. This is my personal view of the currency pair.
