Gbpjpyidea
GBPJPY Short trade opportunity! On screen analysis...Hi traders,
GBPJPY is a pair that I got on my watchlist and saw a great opportunity coming next week. I just wanted to share my trade idea with you guys.
As you can see on the daily chart, the market was in Consolidation. The Range of the Consolidation was broken on May 6th and on Friday we saw that the Neckline changed from Support to Resistance.
On the 4 hour chart you can see a Counter trend where I drew a purple trend line. A break of the trend line will give us a nice opportunity to go short on this pair.
The first target is based on a Fibonacci Retracement level of 0.618
The Second target point is the last Lower Low seen on the Daily chart
The Third target point is based on the Fibonacci Trend Extension level of 0.786
Be patient and always trade with care!
GBPJPY Up Move Rejected - Consolidation Channel Entered. SELLGBPJPY showed a sudden, strong upward move some hours back, but the upward move seems to have lost strength around the current levels of 132.950, which is a strong resistance level for the 1H chart. I see this pair now entering a consolidation channel, hovering between 132.950 and 132.750 levels. I would go short on this pair for the near term, placing a take profit level around the 132.750 levels and wait for a clear trend to show.
GBPJPY short position in near termAs can be seen in the chart, GBPJPY is not being able to sustain an upward move, and as soon as it rises, short sellers are rushing in to push the prices down. It is currently testing the current support level of 132.770 for the 4th time, so I expect it to break this support level for a move down to 132.590.
GBPJPY ANALYSISGood Morning Traders, my analysis for GJ is simple and straightforward in the sense that i'm waiting for price to close above the YELLOW ZONE and i will take a LONG TRADE towards the next YELLOW ZONE for TP1 and next YELLOW ZONE for TP2, BOTH are support zones.
EDIT: Also the Daily Support could be TP3 for 100+ pips, and if you wish to take it there, please move your Stop Loss in Profit.
If this ANALYSIS made sense or matches yours, please give it a thumbs up :)
GBPJPY short trade ideaPlan : wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
GBPJPY IDEAI set a fibonacci and we clearly see a retracement of 133.500.
Moving average showing us possible trend change, so I think this is a good opportunity for SELL.
MY PLAN:
-My entry level is betwen 133.100 and 133.400 .
-My SL 133.750 (fibonacci 0.75)
-My TP 130.800
- 1000-3000 pips we should see this week if this idea will work.
STAY CONSISTENT, TRADE YOUR ANALYSIS!
PLEASE LET ME KNOW IN COMMENTS BELOW, WHAT DO YOU THINK ABOUT THIS IDEA.
THANK YOU!
GBPJPY short trade ideacurrently, we are seeing price reacted to the daily supply zone and if seller manage to push the price down and breakout 133.70 support level we might have a chance to short sell on this pair, from my previous trade idea (link attached below!) the setup was running with +300 pips gain and you could partially close this position and move your stoploss to the breakeven
Plan : trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX