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Gj

GBPJPY 19/10/2022Price has a recent support zone at 168.400 & resistance zone at 169.337. And also price made a breakout of the HTF uptrendline as well signaling a possible retracement move in a newly formed downtrendline. Now if price closes below the support, then we can expect price to continue pushing down to the next key level at 167.810 or all the way to 167.047. However if price respects the support & breaks out of the resistance, then it might continue pushing up to retest the HTF resistance level at 170.119.
by mightybullcapital
2
4hr analysisLast week, I showed the possible double bottom that former on the 4hour chart, market typically moves in 3levels, on the 28th September, we had the second leg of the double bottom, price pushed up since then. Sometimes after a 3 level push, interday trading, we either have a reversal, or a continuation. On the smaller time frames, we have gone up 3 levels from September 28, price then came back down for a retest on the 4hr chart, which was a fake reversal on the smaller time frames, if you see last week, I mentioned a possible double top for a reversal, this drop lasted 1 session, and continued up on the 12 October. This began a new 3 level phase on the smaller time frames. But when we look at the 4hr chart, the bigger picture is showing that we are only at the end of the second leg of the swing/long term trade. So with this being said, I am still expecting buys, and have jumped into another buy from 168.260 after I had a retest on my support on the 1hr time frame. So for now I will swing this buy until tomorrow or whenever price give a reversal pattern on the higher time frame
Long
by faddy
GBPJPY 17/10/2022Price facing recent support at 167.073 after creating a new high retesting HTF resistance level at 167.846 while also moving in respect to a HTF uptrendline. So if price closes below the support zone, then we can look for trades on the short side expecting price to push down retesting the next support levels at 166.363 or 165.419. However if continue to respect the support & the uptrendline and makes a breakout of the recent high at 167.846, then we can look for trades on long side expecting price to continue bullish retesting the next resistance on HTF at 168.727.
by mightybullcapital
GBBJPY at consilidation on supportGJ broke the resistance of 162.545 yesterday, we did get a rest of the zone to become a support, however we are in consolidation for now, though I expect a buy to 164.3385 at least, could go higher, But I mostly trade between zones to be safe. The 4hr stick is far from support EMAs, so it is currently doing a retest also, we will have to see what price does at the support and make a decision thereafter, for now I just observe. Patience will make or break you lol
by faddy
GBPJPY 12/10/2022We can see price made a breakout of the retracement move's downtrend channel & came down again to grab liquidity on the support zone at 159.619 then started to face bullish momentum signaling a bullish continuation run on HTF. Now we have a resistance zone at 162.685 which GJ almost retesting, So if gj makes a break & close above the resistance zone on 30 min TF then we can start to look for trades on the long side on shorter tf in hopes of gj coming all the way up to make a retest on the next key zone at 164.405 setting your stop loss below certain structure in 30 min TF.
Long
by mightybullcapital
GBPJPY SHORT IDEAHello! We have seen some consolidation for some weeks now on GJ before the quick push to the down side to define our structural bias for this pair. Seeing how we have formed a clear CHOCH or BMS on the higher timeframe we will be looking to see the JPY gain strength in this coming weeks, that having been established we now look to a strong supply zone from where we will be selling this pair to the next lower low. This supply zone has been marked out on my chart and seeing the frequent rejections from there by the candle sticks gave us a further confirmation to sell. Hence trade has been triggered!!! Cheers!!! Under Cover Trading Swing Trading Simplified
Short
by Undercover_Trading