gbpjpy - the complete setup analysis - great sell opportunity the price will reject the monthly downtrend and the resistance area in the weekly time frame
Gbpjpysignal
gbp/jpy sell signal 1- touch the up trend of the channel
2- divergence on RSI indicator
TRUST THE PROCESS
#EG-Finance
GBPJPY Going shortFX:GBPJPY
Great opportunity on GBPJPY
Price made new high @ Major Trend resistance
now following a doubble top on 1h
Entry @ market price
Tp 1 @ 153.351
Tp 2 @ 152.236
SL @ 154.567
@SFempire21
GBPJPY analysisHello friends.
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Everything on the chart.
we are formed LD pattern
targets: 152.3 - 152.7 - 153.3
after first target reached move ur stop to breakeven
stop: ~150 (depending of ur risk). ALWAYS follow ur RM .
Good luck everyone!
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GBPJPY: Sell??This is my favourite pair.
Waiting For Touch Fib 0.5 and entry Sell Soon
If you have any idea leave comment below and dont forget give like.
Thanks
GBPJPY: Sell Setup IdeaGBPJPY is my favorite pair too.
I have Sell Setup for this pair.
Risk Reward Ratio as chart.
Place SL 10 pips Above Fibonacci 0,5
TP1: 149.600
TP2: 148.539
TP3: 147.220
Good luck
If you have any idea leave comment below and give thumbs up
Thank you
Gbpjpy - ShortPrice broke structure, retested it and continued dropping, price broke the next support and retested it on Friday. Before the market closed price formed a evening star on the 1H timeframe. Its possible price can continue to sell off .. possibly to 148.750
Gbpjpy - ideaPrice did break major structure, its possible price is retesting structure to continue down. But there is a few scenarios that can play out.
1. Price can rest and drop
2. Price can pull back, break structure and continue on its way up
3. Price could break structure and consolidate
Gbpjpy - ShortPrice has broke structure and confirmed it by retesting the support it broke as resistance. Its possible price can retrace to retest structure to continue down. On lower time frame price does look a little corrective so its possible price can reverse to the 150.250 - 150.750 price range then drop down to around 147.500
Gbpjpy -shortAlthough price hasn't broke structure yet, price is struggling to break resistance. There is some heavy rejections coming from resistance. Evening star was formed on the 3H so its possible this could start a SHIFT in trend. Risky play, GJ is overextended on this bullish trend with no major pullbacks
GbpJpy - longPrice formed a tweezer bottom at support, its indicating bulls still have strength. The next area bulls can push price to is possibly 152.500.
Note: GJ is still in an uptrend because price did not break any major structure levels (HL)
GBPJPY - WHERE IS IT GOING NEXT?HOW MANY LINES DO YOU DRAW ON YOUR CHART TO UNDERSTAND WHERE THE MARKET IS GOING NEXT?
I am not a big fan of messy charts, full of lines, channels, Fibonacci, blablabla... The list can be really extensive.
For FX:GBPJPY pair, it has been rising for the last 4 months, non-stop.
We can see RSI indicating it is overbought and OBV showing divergencies vs price movements.
It has also reached a strong resistance trend line, coming all the way from 2016.
It has also touched a strong resistance level, which has put the price down on the last days of February.
On top of that, it has reached the top of a rising channel. Which I expect to hold and drop the price to support levels.
My take is that price will revisit this strong resistance level and continue its way down...
Nevertheless, it needs a correction from the 4-month rise.
I expect next week to form a strong red candle.
WHAT IS YOUR BIAS?
Please share with me below.
HOPE YOU HAVE A PROFITABLE WEEK!
Let's go!
GBP/JPY Wait For RetraceThe previous trade I posted on this pair went very well and hit TP. This is now at a large resistance level and has been overbought so I want to see a retrace before taking another position. RSI is showing overbought on daily and weekly timeframes. There is a chance to open a short trade but I will not be taking that trade personally as I do not like trading against the trend.
This could retrace to any of the Fibonacci levels before rebounding but it is worth keeping a close eye on 0.382 Fib as this aligns perfectly with previous structure. If there is a clear reaction to that price level then that may be a good price to long from.
TP can be set at the previous high of 148.296 for a safer trade, as I said this is at big resistance so setting a TP above is risky. If you are willing to take that risk the net target can be 151.666
GBP/JPY 4H Short ideaWe have hit a long term resistance, a correction needs to happen. My TP is 140.500 and SL is 148.850. Good luck!
GBP/JPY Pushing Past ResistanceLooking like weakness in JPY and strength in GBP at the moment which combined should push this higher. We are currently at resistance and price is looking bullish so i expect this to push on. MACD and EMA's suggest this is only going up. Targeting the previous high of 147.961. SL just below support.
