Gbpjpy long position setupWe have a BOS to the upside and we are in a pull back right now, I think this specific order block is good to go long. as you can see there are two entry setup, one with lower RR and the other one with higher RR. I'll set an order for the higher RR setup and if it is not triggered then I'll wait for a CHoCH in lower TF to find another netry.
Lets see what will happen...
Good luck
Gj
GBPJPY Technical Analysis 01.12.2023 1h chart– Previous Daily candle closed weak Bullish around 187.010 forming weak Daily Support around 186.850.
– Buys on close above 187.580 targeting Daily Resistance formed around 188.220, Leaving Runners to the 1h Resistance formed around 188.670.
– Sells on close below 186.400 targeting 4h Support formed around 185.890, Leaving Runners to the Daily Support formed around 185.450.
– There is a good probability to see Friday Daily candle closing Bearish as weak Daily Support has been formed on Thursday.
GBPJPY Technical Analysis 30.11.2023 1h chart– Previous Daily candle closed small Bearish around 186.860 as price remain within the recent 4h consolidation zone.
– Buys on close above 187.170 targeting 1h Resistance formed around 187.500, Leaving Runners to the 1h strong Resistance formed around 187.840.
– Sells on close below 186.620 targeting 1h Strong Support formed around 186.320, Leaving Runners to the 4h Support formed around 185.890.
– Ideally is to allow the Asian session to consolidate and wait for high volume time around the Pre London / London Open leading to New York session.
GBPJPY Technical Analysis 29.11.2023 1h chart– Previous Daily candle closed small Bearish around 187.130 as price ranged on the 4h timeframe.
– Buys on close above 187.780 targeting Daily Resistance formed around 188.300, Leaving Runners to the 1h Resistance formed around 188.600.
– Sells on close below 187.040 targeting 1h Support around 186.650, Leaving Runners to the 4h Support formed around 186.390.
– Bank Of England Governor Andrew Bailey due to deliver brief remarks at an event celebrating the 50th anniversary of the London Foreign Exchange Joint Standing Committee.
GBPJPY Technical Analysis 28.11.2023 1h chart– Previous Daily candle closed Bearish around 187.680 forming Daily Resistance around 188.300.
– Buys on close above 187.950 targeting Daily Resistance formed around 188.300, Leaving Runners to the 1h Resistance formed around 188.600.
– Sells on close below 187.240 targeting 4h previous Resistance formed around 186.840, Leaving Runners to the 4h Support formed around 186.390.
– As the Monday Daily candle closed Bearish forming Daily Resistance within the Monthly Rejection Wick formed in November 2015, There is a good probability to see Weekly Resistance formed within the current Weekly candle.
GBPJPY Technical Analysis 27.11.2023 1h chart– Previous Weekly candle closed Bullish around 188.340 filling Rejection Wick formed recently on the Weekly timeframe, Friday Daily candle closed Bullish breaking above recent Daily Resistance formed on 16th November 2023.
– Buys on close above 188.650 targeting previous Weekly Support formed on 13th July 2015 around 189.320, Leaving Runners to the Daily Rejection formed on 25th August 2015 around 190.020.
– Sells on close below 187.910 targeting 4h previous Resistance formed at 187.540, Leaving Runners to the 30min Support formed around 187.140.
– Ideally is to allow the Asian session to consolidate forming a new Range for the new Weekly candle.
GBPJPY Technical Analysis 24.11.2023 1h chart– Previous Daily candle closed Bullish around 187.380 as price approaches the previous Weekly Rejection formed around 188.280.
– Buys on close above 187.650 targeting Daily Resistance around 187.910, Leaving Runners to the 1h Resistance formed around 188.230.
– Sells on close below 187.170 targeting 4h previous Resistance formed around 186.830, Leaving Runners to the 4h Support formed around 186.400.
– Ideally is to allow the Asian session to form a consolidation zone and wait for High Volume time with a strong confirmation.
GBPJPY Technical Analysis 23.11.2023 1h chart– Previous Daily candle closed Bullish around 186.820 respecting Daily Support formed on Tuesday.
– Buys on close above 187.150 targeting 4h Resistance formed around 187.600, Leaving Runners to the Daily Resistance formed around 187.910.
– Sells on close below 186.400 targeting 4h previous Resistance formed around 186.020, Leaving Runners to the 30min Support formed around 185.690.
– High Impact News ahead of the London session for the Pound Sterling, Flash Manufacturing PMI and Flash Services PMI, High Volatility expected.
GBPJPY Technical Analysis 22.11.2023 1h chart– Previous Daily candle closed Bullish around 186.020 forming Daily Support around 185.460, Rejecting the bottom of the Daily Range formed on the left.
– Buys on close above 186.170 targeting 1h Resistance formed around 186.770, Leaving Runners to the next 1h Resistance formed around 187.130.
– Sells on close below 185.540 targeting 4h Support formed around 185.060, Leaving Runners to the 30min Support formed at 184.640.
– Monetary Policy Report Hearings that could impact the Pound Sterling during the London session.
GBPJPY Technical Analysis 21.11.2023 1h chart– Previous Daily candle closed strong Bearish around 185.470 retesting Daily consolidation zone formed couple of weeks ago.
– Buys on close above 185.670 targeting 1h Resistance formed around 186.090, Leaving Runners to the 4h Resistance formed around 186.460.
– Sells on close below 185.180 targeting 1h Support formed around 184.800, Leaving Runners to the 1h previous Monthly Resistance formed in September 2023 around 184.360.
– There could be a potential Daily Support to be formed around 184.500 level before the continuation to the downside.
GBPJPY Technical Analysis 20.11.2023 1h chart– Previous Weekly candle closed Bullish at 186.420 leaving a Rejection wick to the upside around 188.290, Friday Daily candle closed Bearish as price retested the recent Daily consolidation zone.
– Buys on close above 186.600 targeting 4h Resistance around 187.010, Leaving Runners to the 4h previous Support formed around 187.420.
– Sells on close below 186.120 targeting 4h Support around 185.650, Leaving Runners to the next 4h Support formed around 185.140.
– Bank Of England Governor Andrew Bailey due to speak at the Henry Plumb Memorial Lecture in England.
GBPJPY Technical Analysis 17.11.2023 1h chart– Previous Daily candle closed Bearish around 187.050 respecting the weak Daily Resistance formed on Wednesday.
– Buys on close above 187.610 targeting Daily Resistance formed around 187.900, Leaving Runners to the 4h Resistance formed around 188.180.
– Sells on close below 186.830 targeting 1h Support formed around 186.230, Leaving Runners to the previous Daily Resistance formed on 31st August 2023 around 185.690.
– High Impact News ahead for the Pound Sterling at the Pre London session open, Retail Sales m/m forecasted at 0.5%, previously was -0.9%, High Volatility expected at the London session open.
GBPJPY Technical Analysis 16.11.2023 1h chart– Previous Daily candle closed Doji Bearish around 187.910 as price form a new range on the 4h timeframe.
– Buys on close above 188.250 targeting Monthly Rejection wick formed in November 2015 around 188.820, Leaving Runners to the Previous Weekly Support formed on 13th July 2015 around 189.320.
– Sells on close below 187.440 targeting previous Daily Resistance formed on 5th November 2015 around 187.000, Leaving Runners to the 1h previous Resistance formed around 186.630.
– Ideally is to allow the Asian session form a new range for the Thursday Daily candle and wait for strong confirmation during high volume time.
GBPJPY Technical Analysis 15.11.2023 1h chart– Previous Daily candle closed strong Bullish around 187.900 tapping into a Rejection Monthly area formed in November 2015.
– Buys on close above 188.300 targeting Monthly Rejection formed in November 2015 around 188.820, Leaving Runners to the previous Weekly Support formed on 13th July 2015 around 189.320.
– Sells on close below 187.660 targeting previous Daily Resistance formed on 5th November 2015 around 187.000, Leaving Runners to the 1h previous Resistance formed around 186.630.
– High Impact News ahead at the Pre London session open. CPI y/y, High Volatility expected at the London session open.
Day Trading Bias for GJHi there, Traders!
GJ is clearly showing some Bullish movement making HL & HHs, BOS, and retracements. If the Fib is correct (4HR TF), GJ retraced into the 50% then, turned around to the upside. (Note: This was a good time for me to try to scale in for another entry).
Price is now rejecting off a 1HR OB, so maybe a small retracement before pushing higher, 185.300?? (Watch 1HR/15M chart).
Entry: 185.000
TP 1: 186.800
SL: 184.300
~ 1:2 RR
*DISCLAIMER: I am not a financial adviser. The ideas and trades I take on my page are for educational and entertainment purposes only. I'm just showing you guys how I trade. Remember, trading of any kind involves risk. Your investments are solely your responsibility and not mine.*
GBPJPY Technical Analysis 14.11.2023 1h chart– Previous Daily candle closed strong Bullish around 186.240 breaking out of the Daily Consolidation Zone formed last week.
– Buys on close above 186.320 targeting 4h Resistance formed around 186.640, Leaving Runners to the previous Daily Resistance formed on 5th November 2023 around 187.000.
– Sells on close below 185.810 targeting 1h Support formed around 185.450, Leaving Runners to the next 1h Support formed around 185.130.
– High Impact News at Pre London session open, Claimant Count Change and Average Earnings Index 3m/y, High Volatility expected at the London open.
GBPJPY Technical Analysis 13.11.2023 1h chart– Previous Weekly candle closed Bullish at 185.150 leaving a Rejection wick to the upside around 185.960, Friday Daily candle closed small Bullish within the Daily Consolidation Zone.
– Buys on close above 185.340 targeting 4h Resistance around 185.780, Leaving Runners to the Weekly Rejection formed on 28th August 2023 around 186.060.
– Sells on close below 184.640 targeting previous Daily Resistance formed on 1st November 2023. around 184.220, Leaving Runners to the 1h previous Resistance formed on 2nd November 2023 around 183.750.
– The Analysis has been kept the same as the ones posted for Friday as price consolidated within the No Trade Zone provided for Friday.
GBPJPY Technical Analysis 10.11.2023 1h chart– Previous Daily candle closed Bearish around 184.930 forming Daily Resistance around 185.420 as price consolidate on Daily timeframe within the current Weekly candle.
– Buys on close above 185.320 targeting 4h Resistance formed around 185.780, Leaving Runners to the Weekly Rejection formed on 28th August 2023 around 186.060.
– Sells on close below 184.640 targeting previous Daily Resistance formed on 1st November 2023 around 184.220, Leaving Runners to the 1h previous Resistance formed on 2nd November 2023 around 183.750.
– High Impact News ahead of the Pound Sterling before London Open, GDP m/m and Prelim GDP q/q, High Volatility expected during the London session open.
GBPJPY Technical Analysis 09.11.2023 1h chart– Previous Daily candle closed Bullish around 185.420 breaking above weak Daily Resistance formed on Tuesday, Forming Daily Support around 184.820.
– Buys on close above 185.670 targeting Daily Resistance formed on 31st August 2023 around 185.970, Leaving Runners to the Daily Resistance formed on 22nd August 2023 around 186.430.
– Sells on close below 185.200 targeting 1h Support formed around 184.900, Leaving Runners to the 4h Support formed around 184.620.
– Ideally is to allow the Asian session to consolidate and wait for a much stronger confirmation during high volume time at Pre London / London open leading to New York session.
GBPJPY Technical Analysis 08.11.2023 1h chart– Previous Daily candle closed Bearish around 184.810 forming Daily Resistance around 185.190.
– Buys on close above 185.370 targeting 4h Resistance formed around 185.600, Leaving Runners to the Daily Resistance formed on 31st August 2023 around 185.970.
– Sells on close below 184.650 targeting Daily Resistance formed on 1st November 2023 around 184.220, Leaving Runners to the 1h previous Resistance formed on 2nd November 2023 around 183.730.
-Bank Of England Governor Andrew Bailey due to speak at the Central Bank of Ireland Financial System Conference in Dublin.
GBPJPY Technical Analysis 07.11.2023 1h chart– Previous Daily candle closed Bullish at 185.180 leaving a Rejection wick around 185.970.
– Buys on close above 185.570 targeting 1h Resistance around 185.910, Leaving Runners to the Daily Resistance formed on 22nd August 2023 around 186.420.
– Sells on close below 185.030 targeting 1h Support formed around 184.730, Leaving Runners to the Monthly previous Resistance formed on September 2023 around 184.350.
– There is a high probability for the weekly candle to break its own low to form a bottom wick as the Monday Daily candle rejects the upside.
GBPJPY Technical Analysis 06.11.2023 1h chart– Previous Weekly candle closed strong Bullish at 184.770 forming Strong Weekly Support around 181.280, Friday Daily candle also closed strong Bullish breaking above Daily Resistance formed on Wednesday 1st November 2023.
– Buys on close above 185.020 targeting Daily Resistance formed on 6th September 2023 around 185.540, Leaving Runners to the Daily Resistance formed on 31st August 2023 around 185.950.
– Sells on close below 184.480 targeting Daily previous Resistance formed on 1st November 2023 around 184.210, Leaving Runners to the 1h previous Resistance formed on 2nd November 2023 around 183.740.
– Ideally is to allow the Asian session to consolidate forming a new range for the new weekly candle.