Updated idea of GJ, the market has gone down and tested. We are now on the way up and we can keep shooting further up. All we waiting for is the break of channel, retest and then we enter once again.
I am waiting for the pullback and impulsive breakout before entering. This is where I would be willing to enter after the pullback (retest), it could also just bolster all the way up. So for now we wait and watch.
okay so on GJ it's a bit of a tricky one but i'll try put it into words... - firstly i identified the overall trend to be bearish on the daily and weekly as well - down to the H4 market has been bullish since friday morning but then it turned bullish after creating a lower low, so right now it could be going up to form a new lower high but we will see - so i'm...
GJ is broadly ranging and complex? Mid term direction bias still seems to be forming / TBC with a wedge shape formation Last week's break below 158.65 was rejected with a bounce Monday morning to current levels of 161.2 after liquidity grab This plan assumes the bounce takes us back up to the previous target resistance and break of the wedge at 163.8 liquidity...
Lots and lots of entries. I had even forgotten that it hit TP. So now we ride until but we move SL into further TP
Bias: Short Market Cycle: 2 Shorts only on this pair, yesterday was around 80% of an ADR move, so I classify the last 2 days as push 1 & 2.. Both the last 2 drops have been 200 pips so I would expect at least another 150-200 for the 3rd and final push.. 160.82 is My 1h level to look for shorts. If we get above that I think we may push higher and maybe...
Hey everyone. Welcome back to another forecast, this time on GBPJPY. This will be for the future outlook of GJ and where it can possibly head to. BOE hiked rates by 50 bps in its previous monetary meeting and market has priced in a 25bps rate hike in today's monetary policy meeting of March. However, the story of the hawk does not end here as its latest CPI y/y...
Bias: Open Market Cycle: n/a MP's for todays trading... Even though yesterday was a 1st push in market cycle, I am not against trading a break and retest above 161.41.. No1 preference is still short. 162.04 is a strong on the Daily, 4h & 1h - a KL and also 50% retracement from yesterdays push down..
Fundamental Backdrop 1. GBP inflation came out strong and paves way for more hawkishness from the BOE and rate hikes. 2. JPY continues to be the dove. Technical Confluences 1. Price is currently on a higher timeframe bullish trend 2. Price could tap on the H4 resistance above (red zone) 3. Price have cleared the previous daily low Idea Looking for the...
You should have been stopped out in profits but now we wait for the retest before we enter once again.
Move SL into profits, remember you're a money manager not a gambler. I've added another in accordance to my plan. PLAN THE TRADE AND TRADE THE PLAN.
The impulse was great but the current volatility is not enough, so the pullback will hurt and will punish ignorance. So either move SL up or SL into profits.
This is what I see, should the inverse H&S play out and happen. A strong break of the neckline and retest should direct us straight into this trade.
Price has been in a correction on the Weekly and Daily Timeframes, with multiple break of structure to signify a bearish momentum. Price has currently consolidated and is distributing at the dynamic support turned resistance. I would be looking to sell GBPJPY for about 960pips to 153.99. **As always, trade cautiously.
I am using support and resistance to place pending orders, it can be an effective way for traders to take advantage of potential price movements in the market. By carefully analyzing key levels, setting appropriate levels, and managing risk with stop-loss orders, traders can increase their chances of success in the markets Thanks
Bias: Short Market Cycle: Open 500 pips on GJ is a full market cycle in a day, so we can trade with an open bias as per the 15m strategy rules. MP's are the daily levels on my chart, I would prefer to trade short from 162.200 so I will wait for my setup... Short-term, we have support turned resistance on the 4h at the asian high, so there are some...
Price action is a little tricky today. Waiting for 4hr confirmation for potential buys. Let's monitor this area. If we get a clean rejection of this zone, we will enter sells with potential targets around 163.00.
Bias: Long Market Cycle: 2 GJ is in cycle phase 2, Monday was a daily SR and a full retracement on the daily PA followed by yesterdays full ADR move to the upside. 163.11 and 162.83 are both levels within our permitted retracement area to look for longs. Price will eventually target the imb from 28th Feb,