GBPJPY: Classic Trend Following 🇬🇧🇯🇵
GBPJPY remains very bullish from the beginning of the year.
After the last impulsive movement, the market retraced to a peculiar confluence zone.
I see a perfect match between 0.5 retracement of the last bullish leg and a horizontal structure support.
I will expect a pullback from that to 165.0 / 165.7
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Pound
EURGBP potential reversal zoneHi;
EURGBP has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
GBPUSD: Big Fundamentals - New Brexit Deal this weekend?We could be a kicking off the week with a lot of GBP movement if there is a new trade deal reached between the UK and Europe over the Northern Ireland Protocol. Today, Dominic Raab (the UK Deputy PM) told the BBC that the 'UK is on the cusp' of securing a new Brexit deal on Northern Ireland.
I'm also seeing GU decline slowing and possibly at the end of it's retracement, DXY also seems to be slowing (it doesn't seem to matter how well their economy is doing, the bears seem to be in control for now), so I'm looking for longs on this pair at the start of next week. We should test recent highs around 1.24 and a break through would open the door to test the 1.26's.
If a new Brexit deal is reached this weekend I expect a quick uplift, but I think 'being close to a deal' is enough to see this pair grow over the coming days.
This trade gives a 1:3 RR minimum if it works out, I'll be keeping a close eye on the news and the Asian open later!
GBPUSDGBPUSD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
GBPAUDHi guys!"
GBPAUD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
GBPJPY sellAfter our Trade from yesterday, we have a new setup for today. Asia closed good. The price will spicke into our OB or even session high and then probably drop.
If you want you can wait for a confirmation on a lower time frame, where you search for a ChoCH and an OB.
$JPYBASKET is also about to hit our OB so that a reversal has a good change to happen.
But I will enter directly when it hits our OB.
Entry:162.050
SL: 162.200
TP1: 161.472
TP2: 160.500
TP3: 160.150
Would not recommend to risk more than 1%.
Please like and comment what you think!
GBP/USD grinds higher, but bears eye break of 1.20US producer prices, manufacturing and housing data in focus
No miracles will be expected for US housing data given the Fed’s hikes, but it will be interesting to see if the Philadelphia Fed Manufacturing Index contracts at a much faster pace, like the NY State Empire equivalent did yesterday. And with US retail sales hitting a near 2-year high and inflation hotter than expected, all evidence points towards a soft landing for the US and a case for more hikes. And that view could be bolstered if US producer prices come in hotter than expected today – and it could further support the US dollar on hawkish bets.
GBP/USD 1-hour chart:
Whilst GBP/USD has dragged itself from its post-CPI lows, key resistance looms and momentum could favour further downside. Yesterday’s soft-than-expected inflation report for the UK came as a welcomed surprise, which helped the pound quickly erase all of Tuesday’s hot employment gains. After briefly trading below 1.20, GBP/USD has produced a countertrend move in the form of a potential bear channel / flag. Given the relative hawkishness of the Fed and strong US data, my bias for GBP/USD to break below 1.20. So I’m now looking for evidence of a swing high around or below the weekly and daily pivot points (a break above which invalidates the bearish bias).
Note that the downside band of 1-day implied volatility is just beneath the daily and weekly S1 pivots, and the downside band for 1-week IV is just below 1.1800.
GU two trades completeGU provided two decent trade opportunities recently.
first being the retracement to the 61fib of the previous move down. this also has another confluence as it rejected the recent broke support trend line.
The next solid move was taking a buy at the previous low made this is currently running 50 pips
dollar could be heading higher so GU could be taking a hit
GJ SELL IDEAAfter we broke structure (BOS), we have a potential to drive lower.
We created an OB (blue/grey zone) in Asia, which has to get filled.
Waiting for the price to come up to 161.700-161.855
TP 1 Asia Range (161.000)
TP 2 Asia Range (160.160)
What do you guys think about this idea?
Please like and comment what you think!