GBP/JPY FALLINGHello friends
According to the W timeframe, against the 4 previous D timeframe candles and the chart behavior, I predict that this symbol going for falling after touch the channel roof zone!
Gbp_jpy
GBP/JPY SHORT (4HR) - 300 pip potential Hi all,
Looking for a short in the area denoted by the purple box. I will be setting my stop just above the high of the wick of the green candle also in the purple box.
We can see that there has previously been a strong price response to this area and price has yet to return to it - this increases the odds in on favour.
We also have the fundamentals in our favour for this trade. The worse than expected CPI data released yesterday has increased the chances of an interest rate cut at the end of the month and in turn this will put downward pressure on the pound.
Although price has recently broken the descending trendline drawn from December 12th on the daily timeframe, price has yet to break the highs seen at the start of the month - therefore the downtrend is still intact which also adds confluence to a short trade.
My profit targets are denoted by each of the blue lines.
As always, this is just an idea and you should undertake your own analysis before undertaking any trades.
GBP_JPY: Short the Pound at the ResistancePound broke the support level, now become resistance.
Before it could go up, a sell pull back right at the support level is right idea.
Daily Timeframe analysis shows that GBP_JPY is still on leg4.
This week is a very good trade as there is a two trade set-up for GBP_JPY.
One is short trade and another which is bigger move buy trade going up.
Possible GBPJPY bearish Gartley formingGBPJPY is breaking out of a wedge to the upside with a possible target in the 159 area which also coincides with the 78.6 fib level to complete a bearish Gartley where the pair should reverse. It makes sense that any upside in GBP would be limited given the upcoming Brexit vote is just around the corner.
My analysis is for informational purposes only and should not be construed as advice to buy/sell any instrument. Always perform your own due-diligence and never enter into a trade based solely on someone else's opinion/analysis without doing your own.
GBP/JPY - possible break out?One to watch of the next couple of days to see if this comes into play...
- Textbook head and shoulders formation, lets see if this one can break the neckline, if so trade the breakout.
GBJ/JPY continued short to 152Looks like a continued short in the channel to around 152. At this point think you can expect some type of bounce and retracement of the larger move. Possibly to the 156 level.
GBP/JPY A few things to be aware of if you are long GBP/JPY after the recent pullback. I'm sure there is a Gartley pattern formation as well, but I don't know enough about it to comment on it.
Bearish for CAD/JPYGoing short in this pair. Shorts are still viable at this time. The pair looks very negative. As well JPY has been the strongest performer.
BUY A POUNDMonthly downside momentum broken
Price currently at price levels where counter trend longs are better probability
Need evidence of buying on smaller time frames first though. Also, profit potential for longs
capped by recently created monthly SZ above price
GBP/JPY Potential bearish shark Feel free to comment/like
Trade will be active as soon as prices touch the orange dots.
GBP/JPY POTENTIAL BEARISH CYPHER10th Post. FX:GBPJPY
Any comments and suggestions are welcome.
This on my 4 hour watchlist; Potential Cypher Pattern forming. We have a valid C leg, but this is still an early one to call, but worth keeping an eye on it.
