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Bearishbias

Chance to Buy the Rally, Overall Bearish BiasNow is a chance to enter a long during the rally. -My overall bearish bias for GBPJPY is bearish. -Price is currently in an area of support. -The previous 4h candle ended in a doji and appears to be forming a morning star candlestick pattern. -A formation of the candle stick pattern along with respecting the support area is showing that price is building bullish momentum and ready to make a bullish push. -After the break of the previous low I am expecting price to retrace and test the former support area which is now acting as resistance. -According to the fib this previous area of support also aligns with the 50.0 fib level. -I am expecting price to rally to the 50.0-61.8 fib level before making another bearish continuation. -Price should test the previous level of support, acting as resistance and create a lower high (LH).
Long
by NoCeilingsTrading
2
Another GBPJPY Swing ShortIf you like this idea, like it and follow me for more. Colour key: Blue = Monthly TF, Pink = Weekly TF, Grey = Daily/4H TF. I'm trying out a new strategy which puts a larger emphasis on the bigger picture i.e. the monthly/weekly trends. As you can see, i've marked out several supply and demand (S&D) zones where price has reacted in the past. I've also marked out a trendline to emphasise the fact that GJ appears to be in a downtrend. If price comfortably breaks this trendline then my bearish bias has been invalidated. Until then, i intend to sell all the way down to the bottom zone, which is a major monthly S&D zone. Some of the smaller zones before it will act as areas to take partial profit. Updates to follow, follow me to see them.
Short
by darbova
Overall Bearish Bias CHFJPYPrice appeared to have broken the low during the previous month. This monthly candle appears to be a retracement or a retest of that level. So far it a look as if price will respect that level and may be signaling it's setting up to make a large push to the downside. The weekly time frame show a double top, with a retest to the neckline, price also met resistance at and respected the trend line creating a lower high. Expecting a price to retrace/test and respect the 61.8 fib level on the daily, then creating a bearish impulse/continuation. I'm expecting price to sell off into the lower eclipse, possibly to the lower trend line and respect it, creating a lower low of the bearish trend, while simultaneously creating a higher low in the bigger picture. (this explains the purple and red drawings) Feel free to like, or comment and post your analysis if you see something different!!
Short
by NoCeilingsTrading