Gbpjpydaily
GBPJPY buy with 50 pips slEnter in GBPJPY buy as expected fundamentally to go bullish and on testing the resistance it may come down, the second possibility which we are looking at although probability is low, if it crosses the below plotted zone then we are looking at a definite sell
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GBPJPY Buy LimitWe saw that the trade did not go as we expected , but now I am waiting for it to finish the pullback at around the marked area and if we see that there was positive price action moving our way , we can enter the trade. I have set a buy limit at that point , so you can expect the trade to happen at any point soon
Buy Limit : Entry : 126.955
S/L 126.428
T/P 1 128.859
T/p 2 129.630
GBPJPY LONG! Two Setups on Daily Charts Currently price is trapped at Buy-Zone that could act as support or Resistance for Potential Long-setup on Daily charts.
Waiting for further price action is best strategy prior to locking trade position.
Check comments section for future updates on idea.
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Huge sell-off in GBPJPY, Will it continue to drop? Before the start of this week, I mentioned in my GBPJPY idea that 144.50 is a selling area with targets at 141.30. (read attached idea below to see it)
As you can see, GBJPY not only dropped to my target at 141.30 but also broke out of the bearish flag and went as low as 137.50.
This is a huge 700 pips drop fueled by weak demand for GBP and very strong demand for Yen due to the ongoing sell-off in stocks.
The important question is, will GBPJPY continue to drop and should you sell it?
Well, if you have been holding sells from my sell entry at 144.50 there's no harm in selling it. However, after such a huge drop within a short period of time, I would wait for a pullback to happen before putting any fresh sell trades.
Ideally, I would like to see a healthy pullback to the bottom of the BEARISH FLAG at 141.50 area before thinking about selling.
If GBPJPY continues to drop, the Support areas mentioned in my chart will come into play.