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D-GJ

GBPJPY [GJ] - DOUBLE-TOP @CONFLUENCE OF BEARISH TRENDLINE Back again people... Its a busy day :I This afternoon I have been looking @ GJ As always, I will kick us off with a Top-Down Analysis I have identified a Bearish Trendline that is respected on both the Monthly & Weekly Timeframe If we look at the Weekly - We can see that there is a Horizontal Resistance that meets the Bearish Trendline @158.00 [ Nice bit of Confluence there ] Furthermore and prior to this coming together, the market has tested the Horizontal Resistance and then fell away This then returning to the level @158.00 and forming a Double-Top At this point I am considering Shorts Moving on to the Daily timeframe ... If we look on the Daily - We can see that the Double-Top is respected at the confluence of the aforementioned levels @158.00 Furthermore, I have marked out a Bullish Trendline - Currently, the market is heading south towards this S upport So, Initial thoughts are - If price breaks below the confluence of both the Support of the Bullish Trendline & Horizontal Level @158.38 - I will the looking for Sells upon a Retest of this confluence as new Resistance Also, if this materialises - We should still look further south for a further drop at the neckline of the Double-Top @149.2 zone - Which would be nice, yeah? Alternatively, a Breakout above the Double-Top may present Long opportunities Will keep my eye on this and provide updates as and when required Thanks for tuning in people - Peace Out!
by fxhole_
GJ can break to the upsideGJ if breaks the level, will go up to weekly resistance Targets on Chart Be carefull, patient and discipline. This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading. Good trades to All.
Long
by miketiger
GJ Sells. 32 Pips. Perfect Start to 2022!This trade was taken during Pre NY volume. Entry was taken at the close of the Bearish 30m Candle. We saw that the next candle closed bullish which meant there was a high chance price would have continued to push up and this is where I managed my risk. I closed 50% of my overall trade to minimise my potential loss. I did this by using Magic Keys. Once I closed half, I decided to let the trade play out. If it hit my SL then its no problem as I would of lost less than I was willing to lose. But the NY Session created great volume for the new year and Decided to push price in my favour. XAUUSD had also taken a huge hit and we caught a great trade there aswell. The perfect start to 2022!
Short
by MA_Capital