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Gbpjpysetup

GBPJPY, 4hr tf, 5th wave analysis of ELliott WaveBased on the 4hr timeframe we i tried to analysis GBPJPY movement using Elliott Waves principle. Wave 3rd finished exactly at 161.8 fibonacci expansion level while Wave 4th stopped at 38.2% fibonacci retracement of Wave 3rd. Usually when the 3rd wave stopped at 161.8 fibonacci expansion of Wave 1, the 5th wave length will be the same with the 1st wave. The comparison of 3 impulsive waves will be a 1 : 1,618 : 1 We could try selling this pair with stop loss above the 4th wave top at 134.00 because if price move above that it means wave 5 is completed already. For a better entry we will wait for GBPJPY to retrace a bit to 132.80-132.90 before selling it Sell GBPJPY 132.80-132.90 Stop Loss 134.00 Take profit 1 at 131.70 Take profit 2 at 130.50 Good Luck
Short
by HayatoDragonFX
GBP/JPY Technical Analysis.Currently, GBP/JPY is trading at 133.01. The pair is consolidating in the resistance and support ascending triangle wedges. Previously, the pair was trading in a down trend and after touching support level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 133.55, then it may start a new up trend and its target price will be at 135.59. If the price breaks the support level at 132.84, then it may start a new down trend and its target price will be at 131.85. Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
by rishililawat5
GBJPY multi frame analysisHello Trader, Here is the full analysis of GBPJPY: 1) Monthly - Prices are currently testing monthly support and if it break then it will test the 135.285 level. 2) Daily - We can see a retracement between 23 and 38 levels. 3) Hourly - We can prices are taking support at monthly level. Action With one hour prospect prices seem to be within weekly and monthly resistance and support. One can wait for either one to break and then take positions. If it falls below monthly then 135.196 will be tested and then possible up move will be seen. if crosses 141.028 then one can look for long position. Technical Indicators: Moving Averages Bullish Technical Indicators Bullish Moving Averages Crossovers Bullish How can you support me : 1) Like my idea. 2) Follow me for more analysis Feedback : Please share your feedback in comments and this will help me to improve my drawing and analysis Note : This is purely for educational purpose.
by technicalwhale
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!
Short
by Cas4xx
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