Back tested our major support and resistance zones in the market and it looks like our down trend will end soon. Possibly near this friendly support area. If so, based on fibs theory we are looking at a pretty sweet buy leaving us with 100-120 PIPS of profit. Good luck!
Break of March 5th bar with a push down.
1. Pair GBPJPY has made a strong bullish trend, but not always will this trend persist. The end of this trend is indicated by the formation of a volume divergence on the chart with a yellow line. -------------------------------------------------- -------------------------------------------------- ---- 2. This pair must return first to the Fibonacci level...
GBP JPY, I simple trade. I want to put a clean and simple chart , so I decided to just show the directions! However, If you would like to know and learn how we analyse this pair, Please drop up a comment! At the exact moment this pair looks that will reverse back to 143.604 and then the sellers together will take the price of the pair to South ! However, a...
As you can see in this 4 hour view, market is forming a pennant/falling wedge, this happens to be a breakout to the upside so i expect market to breakout on top. Not mentioned in the video is the fact that market is currently forming a rectangle channel within the pattern formation and this is a sign of breakout soon to occur, highly expect a breakout this...
GBPJPY I've sketched the POSSIBLE retracement area of GBPJPY which it could be doing.
- Clear bullish structure - Buy on dip
GBPJPY 2618 price have tried to break above 156 double topped then broke structure to the downside 61.8% fib retracement. 146-148 very strong support but if Cable depreciates and geopolitical tension push investors to the safe heaven assets we may see huge profits and huge moves in that pair. GOOD LUCK
GBP JPY Has Broken the uptrend Channel from March 2018. An strong bearish trend in Daily Chart as well. i will Short only after the pullback at 151.300 For TGT of 149.400 with the STOPLOSS of 152.213 which gives us Risk to Reward Ratio of 1:2.
GBPJPY has retraced to the 61.8 Fib in the 4hr time frame great opportunity to go long
Longer term I am bearish on this pair but I do see room to the upside for another 150-200 pips. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Buy setup in the 1hr time frame using the Elliot Wave Theory
Time to set pending order, price close to critical zone