Get started

Gbpjpysetup

GBPJPY - Sell Bias G'day Trader, With GBPJPY we are looking at overall bearish move with the possibility of 2 scenarios to playing out. Our confluence are very clear Head and Shoulder pattern, break and retest of ascending channel. Price currently retesting pervious minor support as resistance at the 38.2% fib. If we get a strong bearish candle this could be nice move down. We could also look for price to pullback to 61.8% fib before continuing bearish move down. Its game of patience now. Good luck Traders. Lenin
Short
by Lenin-Michael
GPBJPY: THE RISE BEFORE THE FALL!GBPJPY has been in a major ascending channel which has formed it's own smaller channels within it forming a multi-level structure and it gives a good indication of following through for a completion and market sentiment seems to favor this as well. Currently price is ranging on the inner 1Hour Timeframe channel and is showing signs of touching the lower inner trendline once more before taking off topside to the 152.500 area. Of course, we shall be waiting for more confirmation as the trade plays out and we expect to see rejection candles when we reach the upper trendline acting as our resistance zone. Completion of this price structure will give us a nice sell to the downside to the 150.100 zones and possibly lower still. So for now we can take short term buys whilst we wait for the main sell trade ;) Please like, comment and subscribe so you don't miss any trade ideas, and most importantly; grow in your trading ! Happy trading ! OANDA:GBPJPY
Short
by Fx_Boulevard