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D-GJ

GBPJPY Potential Forecast | 27th November 2022Hi everyone, today I will be talking about a possible GBPJPY short trade using Smart Money Concepts for the next week. Trade Idea 1) Price has been bullish on the lower timeframe 2) Price is nearing the daily swing high at 169.08 3) It could potentially head up to test the daily swing high and we can find potential short positions off the supply zone above 4) Furthermore, sell-side liquidity has been building at the bottom marked by the liquidity hot-spots To look out for: - Price could potentially tap into the area of imbalance below before headed back up, there could be potential long opportunities there as well. All in all, I believe that price can potentially retest the daily swing high above and will be eyeing short confirmations there. Trade safe guys! Regards, Chern Yu
Short
by Jon_Jones_Junior
14
GJ Drops After PullbackAs you see in the 4H time frame, price failed to make a higher high and created a bearish reversal double top pattern and was pushed sharply to the downside. Currently, price is facing bearish pressure but has approached to the yellow support level at 166.300 and got rejected from it. We might see a pullback around the red resistance zone and if there was any downside push at that area, we can expect a continuation on drop on GJ to the green level at 165.300 On the other hand, price might not have any pullback and breaks the yellow support to the downside and drop straight towards the target. What is your view about GJ? Feel free to share your ideas in the comments.
Short
by Mahtab_Tradia
2
GJPart 3 Textbook sell pattern, straight forward and easy to spot. The build up of price and the steepness of the gradient, further shows us that the "Mighty will always stumble" 🤣🤣🤣not the best analogy but it's the way it makes sense in my head. I'm still gonna WATCH & WAIT, Due to it being year end a lot will happen and affect the whole years trading. How it effects me, is that I try keep busy with other things and this leads to very poor trading decisions as I will only be aiming to close on profit but overly exposed. So this more than ever is time to start the review of the year and just how important it is to stick to my rules.
by Mhangwane1
GBPJPY 4hr analysisAs we can see, GJ is trading in a flag pattern in a down trend from the head and shoulders forming on the daily. We are however not able to break the resistance zone of 166. Which also correlates with the strong resistance of the 200ema, so we are still in a safe sell zone, the safest trade would be when price breaks below the flag pattern, retests is and confirms a sell entry, to make sure that the pattern has broken. Look for these entries on the smaller time frames.
Short
by faddy
2
GJ Update: Drop After Retesting The Resistance As you see in the 4H time frame, price is in a downtrend and currently it is retracing the previous bearish move. There is a resistance zone between 166.800 - 167.400 which has been hold the price for a while. Moreover, we can see the weakness on the bullish candles and log upper shadows which indicate the bulls are getting rejected and there is more bearish push. We might see more upside push around the resistance zone, but I expect a drop on GJ towards the green level which is the last low at 163.700 and in the case of an downside breakout on this level, we might see more fall but I will update the analysis then. What is your opinion about GJ? Feel free to share your ideas in the comments.
Short
by Mahtab_Tradia
7
GBPJPY Weekly Analysis 14/11/2022 to 18/11/2022The price seemingly making another swing low in between the HTF uptrend channel while facing strong support at 163.182 & HTF resistance at 166.256. now if price is to continue pushing down it shouldn't breakout of the HTF resistance. so if price breaks the support while respecting the resistance, then price might continue to push down to the next support zone at 160.946 or 159.749 and also make a retest on the HTF uptrend channel with a deep retracement move. However if price closes above the resistance, then short opportunity on HTF would be invalid.
Short
by mightybullcapital
3