As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.6. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=148.4. TP4: R2=149. Set the stoploss of these orders at breakout of S2=147.35. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
GBPJPY LONG TRADE IDEA
BUY GBPJPY between 148.25-148.30 sl below 147.80 TP 148.60
The GBP/JPY has reversed its short term downtrend. It has broken its resistance and currently taking support at its broken resistance. Also it is currently in a triangle formation and we expect the pair to make a bullish breakout which will be good time to take long positions.
GBPJPY LONG TRADE IDEA 24TH AUG 2018
The 1 hour chart of GBP/JPY has formed a full Elliot wave pattern So,It is expected to be bearish for the 'c' corrective wave.
we already shot both TPs and i posted it later bcoz i need to test it before posting that!!
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...