Gpyjpy
GBPJPY - Continue to rise? or beginning of the fall? 26/06/2023 - 1 Hour TF
GBPJPY has been in a Bullish trend for quite a signifcant amount of time consitenly making Higher Highs as well as Lower Lows. Supported on the Weekly, Monthly, Daily & Hourly timeframes.
Despite recent Bearish breaks we are looking for potential buys as we kick of the trading week.
Recent news articles also points to a potential Bullish run. Raising interest rates also supports the idea of a longer
Looking to enter a trade after price has broken below area of support, & it has come back to close above zone a 1:1 or higher win rate ratio.
DISCLAIMER: All trades are just my own ideas and should not be taken as a signal. Follow me for more ideas.
Happy Trading!
Supreme Trading Society
GJManually closed. Not liking how the market is moving but those that are confident in the movement can hold on. I'm out and I'm going on about my day
400+ PIPS RISE TO CROWN THE WEEKGBPJPY is set for a continued rise in price,
Possible Target $75 price level
The OPEC Supply Cut Effect will push the price = $110My bias,the market was overall bearish before the change in trends as a result of the double bottom chart pattern at around the .0 Fib level.
The latest cut of crude supply to the global market by opec will bring a rise in oil price up to 1500 Pips,ie price from current to $97 and a brief pull back before rising to $10. The would likely play out as sanctions on Russia oil left most market with lesser choice but to compete in purchase with the limited oil supply. Tell your oil producing countries to get ready for this price surge vice versa.
GJI'm staying clear and far away from any GBP related pairs, due to the statements made by the IMF. I don't really care about moodys (I'm in the research process of them, due to finding out that Berkshire Hathaway actually has a stake in moodys). How the country is reacting to Russia, lizzys death and new leadership is allowing me to watch and wait.
GJThe market is playing out close to how we said it would. I'm watching and waiting for the market to break impulsively and retest before entering.
GJWhat I am potentially seeing, what could happen. Markets are still confusing me in England so I prefer certainty. Friday, I took many trades but they were short trades and didn't last too long. I'll try put the picture up.
GJHonestly confused, especially with the England climate so I've closed all trades and decided to take a backseat.
GJNot too much to explain but those that see, do. Those that don't I'll come back to explain, kind of caught up with some other things.
GJStill running but SL is in TP. We running quite well and very strong. So sleep on it and let it hit TP ............or SL (which should be in profit)
GJA bit late to enter the buy I waited for but those that have taken it, well done and very good spot. W/ Double Bottom, whichever you see I'll either wait for completion or pullback & consolidation whichever comes first before entering.
GJClose under this blue rectangle will result in a push all the way down. Even after the close down. we will wait for either an impulse downwards or retest which bounces and stays below.
GJSL of the earlier trades has hit, but because earlier we had UJ we still up. But we need to watch it over and see why we got on the wrong side. Watch and WAIT
GJThese are my ideas as to whats going to happen after the close and retest is done. So either entry will depend on your trading plan, that's why both entries have different SL. It is to accommodate my trading plan and my RR which I follow, STICK TO THE PLAN (YOURS THAT IS).
GJGood thing we didn't enter it at the time we saw it, or else we'd have heart palpitations. It would've either hit the SL or come close to because of the large movements. Now we wait for the retest of the blue rectangle before we hop on and ride
GJBe careful of that euphoric feeling of being on the same side as the market. Don't over trade, lose RR, forget about your trading plan, after those wins close your laptop and sleep. I'm still here because this is what I am willing to let my life be. I'm seeing a possible break to the upside, and because here in South Africa it's about to be Midnight; spreads go crazy, people donate their profits back to the market. This is why I don't like having trades running over days but part of my trading plan is leaving trades until point of exit (TP or SL). So I'll just watch and let things happen.
GJGetting my forecast right 2 times in a row is such a big event. It has taken me time to get to a point where I don't care about what "mentors" are saying🤔🤔🤔😎😎😎. GJ, after back-testing, practice and over 10 blown accounts I have finally understood a part of it. Long term we going for a while but I want to ride the waves along the way. Thank You for those that read and follow their plans. If you just look at my forecast and place the same trade, without checking your rules, please tell us who your next of kin is so we stay ready to call.🤣🤣🤣📞📞📞
GJ😂😂😂😂 Lesson Learned 😂😂😂😂
Because I got too excited for the set up, the previous buy stop I set was 161.300 and not 161.030. So I just have to be more patient before adding any trades as it will mess with the trading plan.
Plan your trades and trade your plan.
Initial idea was to get in before the break, after neckline retest add more trades. This was to ensure that even if the market went against my forecast, then I would either walk away with minimal profit or BE, NOT A LOSS.
Back test 1-2 until you know it's behavioral patterns without even drawing anything or even putting in indicators.
🤣🤣🤣🤣😂😂😂😂 I'm mad but it's a lesson I was clearly supposed to learn.🤣🤣🤣🤣🤣
GJI had already entered an early trade of this as a risk but if we get the close I'm anticipating of the next few candles then I will place that buy stop and let it run. I will only adjust here and there according to SL and price structure.
1. Inverse H&S
2. Break, retest and continuation
3. Break of inverse H&S shoulder line
4. In the Correction phase
GJI've put 2 trades next to each other so you can see which type of trader you are, or which one serves your trading plan. It's the weeks forecast with all my analysis done (Starting from the 4H chart going down to 15 min).
FOLLOW YOUR PLAN AND STICK TO IT
GJNOOOOO It's not Support and Resistance🙅🏾♂️🙅🏾♂️🙅🏾♂️🙅🏾♂️⛔⛔🚫🚫🚫. I am seeing a possible inverse H&S, so I'm waiting for the formation of the other shoulder or a break of structure. With this info that the market has currently given, it's a short risky trade I see. So it's not what I want to babysit, I'd rather wait for the larger possibility. (inverse H&S).
