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GBPJPY Analysis (22nd May 2024) Market Analysis PT2/2 (22nd May 2024) GBPJPY Analysis On the 30 minute timeframe, we have created a very strong support at the 198.272 - 198.363 level, having more than 5 taps along the area and rejecting it. There are 2 scenarios i am looking for. 1) Price breaks above the 198.615 level with a body candle close on the 15 minute. If we do have that, i will be looking for potential Buys ton continue the bullish move, given that it provides a retest of the 198.615 level. 2) Price breaks below the 30 Minute support with a body candle close. IF this happens, support fails and turns into resistance, this is where will be looking for a break and retest to continue lower towards the 197.800 level.
by CallistoFX
GBPJPY Analysis (22nd May 2024) Market Analysis PT2/2 (22nd May 2024) GBPJPY Analysis On the 30 minute timeframe, we have created a very strong support at the 198.272 - 198.363 level, having more than 5 taps along the area and rejecting it. There are 2 scenarios i am looking for. 1) Price breaks above the 198.615 level with a body candle close on the 15 minute. If we do have that, i will be looking for potential Buys ton continue the bullish move, given that it provides a retest of the 198.615 level. 2) Price breaks below the 30 Minute support with a body candle close. IF this happens, support fails and turns into resistance, this is where will be looking for a break and retest to continue lower towards the 197.800 level.
by CallistoFX
GBPJPY Analysis (18th April 2024) Market Analysis PT1/2 (18th April 2024) GBPJPY Analysis On the 4 Hour timeframe, price action has created a WCR. This is a vaild WCR as it meets all 3 criterias of: - Range on the 1hr/4hr/Daily timeframe - Range is at least 100-150 Pips wide - More than 2 taps on Each Support/Resistance. Looking at the 1 hour timeframe, price action has created a 1 hour Change of Character after failling to break past resistance level. What i am personally looking for is for price to sell reject of either the gold fib level from the swing high to the swing low, or come up alittle higher to retest the 1 Hour Orderblock before looking for sells. Once one of these 2 areas of interest has been tapped, i will be looking for 5 minute/ 15 minute Change of Character before looking to sell all the way down to the support.
Short
by CallistoFX
Waiting...You can see price hovering around underneath the 160.000 level, stuck in a range, I don't want to trade here.. Look how clean the move was to the left on the last bullish impulse, So for me if price breaks above the 160.00 with confirmation we've got a much cleaner looking opportunity (80/90 pip move) back up to 160.851, than selling from there back into the choppy range (40 Pip move) (We also have the D failing to close below 160.00 confirmation and LTF. Whats your thought?
by benalistarfx
GJ shortMonthly; bullish trend Weekly ; there is a candle that filled the previous candle’s wick so I was expecting price to get rejected from the monthly S/R zone and reverse, currently is stuck in a consolidation On the daily there was a rejection forming a shooting start candle indicating a reversal may happen, price also broke previous swing. On the 4h; there is a spinning top candle followed with a bearish engulfing My confluences for a trade; 4h Breaking previous HL Below emas A heavy bearish momentum breaking the S/R zone The monthly/weekly long wick candles indicating loss of bullish momentum and a high probability of price reversing.
Short
by Ily14
2