#gbpjpy #elliottwave short sell setup wave c 17Dec24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
GBPJPY trade ideas
IDEA GBPJPY LONG POSITION HI TRADERS
Pair : GBPJPY
Position : LONG( BUY )
Entry Price : 195.000
STOP LOSS @ 194.650
TP 1 @195.350
TP 2 @195.700
TP 3 @196.050 ( Trailing SL )
Potential bullish rise?GBP/JPY has reacted off the support level which is an overlap support and could rise from this level to our take profit.
Entry: 194.67
Why we like it:
There is an overlap support level.
Stop loss: 193.14
Why we like it:
There is an overlap support level.
Take profit: 197.72
Why we like it:
There is a pullback resistance level that is slightly above the 61.8% Fibonacci projection.
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GBPJPY Buy Zone Locked 195.000 in SightThe GBP/JPY chart shows a bullish opportunity as the price approaches a key demand zone around 193.400.
This area has acted as a significant support level, and rejection here could signal the continuation of the broader uptrend.
With a clear target at the psychological resistance of 195.000, the setup aligns with a bullish market structure. Traders should watch for confirmation through bullish price action within the demand zone, such as rejection wicks or higher lows.
A clean bounce from this level offers a high-probability trade, with stops just below the zone to maintain a favorable risk-to-reward ratio.
GBPJPY Trading Opportunity! BUY!
My dear friends,
My technical analysis for GBPJPY is below:
The market is trading on 193.46 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 193.85
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
GBPJPY My ViewGBPJPY - Bullish Buy on Support
The strategy focuses on taking a bullish position on GBPJPY, with the goal of buying at key support levels as the pair shows strength. The idea is to enter long positions at every opportunity where the price bounces off established support zones, anticipating continued upward movement.
Trade Setup: Buy on every confirmed support level, especially after price shows signs of holding above these areas. Look for bullish price action such as a candlestick reversal pattern, or indicators like RSI or MACD showing bullish momentum.
Target: Hold positions for a longer-term rally, targeting higher resistance levels or key price zones where the pair has historically reversed.
Stop-Loss: Place the stop-loss just below the support level to manage risk in case of a breakdown.
Timeframe: Suitable for traders with a medium-to-long-term outlook, seeking to capitalize on each support bounce.
Disclaimer: Always ensure to manage risk effectively, and consider market conditions before entering trades.
Track live rate changes on the GBPJPY chartThe GBPJPY showed a 1.24% rise over the past week, the month change is a −1.85% fall, and over the last year it has increased by 7.29%. Track live rate changes on the GBPJPY chart.
GBPJPYBritish pounds will see a strong rejection on the descending trendline,if the structure is broken we will hold to our 7day bullish leg impulse and go higher......go moon on break of structure.
GBPJPY BUY!!!GJ sentimental is bullish today, and early morning it just grabbed liquidity of the London session high. Now, let go long
We first aim for 1:1 the 1:2 after securing some profits
gbpjpy probably a sell.I believe it's still looking for a liquidity grab or about to shift structure to the down side.
GBP/JPY Mid Term after a strong fight with the JPYHi again guys, we are looking into our next fantastic opportunity which this time will be more Mid Term as development. We will check out the GBP / JPY which has been extremely bullish for an extended period of time, but as we have seen the past couple of weeks since the beginning of November until now that the price has significantly dropped down. Currently as I showcased on my technical analysis it has reached a previous Strong Resistance Line which has been tested a few times and it became a Strong Support Line , so this is why my analysis is showcasing a reversal of the downtrend into an uptrend. Current entry description -
entry 191.550
Target 1 : 193.765
Target 2 : 196.015
Target 3 : 199.850
Keep in mind that we have had high volatility with the JPY pairs so you can be cautious and have your entry after the first target has been reached so you have the necessary confirmation!
Happy trading!
GBPJPY POSSIBLE SCENARIOGBP/JPY Analysis : Head and Shoulders Pattern Detected
A Head and Shoulders pattern has been identified on the GBP/JPY chart, indicating a potential reversal of the uptrend.
Recommendation:
Consider short positions or bearish strategies to capitalize on the potential downside movement.
Best Wishes Tom 😎
GBPJPY We looking for buying opportunities as the market is still inside a bullish trend as we wait for the retracement then we will be expecting buys as the market is still inside the bullish trend|1H TIMEFRAMWE
GBP/JPY Bearish Market Analysis Using Elliott Wave TheoryThe daily chart of GBP/JPY indicates a potential bearish trend unfolding in a classic 5-wave Elliott Wave pattern. Here’s the breakdown:
Wave (1):
The initial downward impulse wave demonstrates significant selling pressure, marking the start of the bearish trend. The decline is steep, indicating strong momentum in favor of the bears.
Wave (2):
Following Wave (1), a corrective wave retraces upward to approximately the Fibonacci 0.618 level. This retracement aligns with the expected behavior of Wave (2), which typically retraces 50-61.8% of Wave (1).
Wave (3):
The ongoing Wave (3) is projected to extend significantly lower, aiming for a Fibonacci 1.618 extension near the 184.000 level. Historically, Wave (3) is often the most aggressive and extended wave, driven by heightened bearish sentiment.
Wave (4):
After reaching the 184.000 level, a minor corrective move upward (Wave 4) is expected. This wave is generally shallow, potentially retracing to the 0.382-0.500 Fibonacci level of Wave (3).
Wave (5):
The final leg of the bearish trend targets the 2.618 Fibonacci extension, estimated around 177.000. This aligns with the ultimate downside potential of the bearish Elliott Wave cycle.
Key Levels to Watch:
Resistance Levels:
193.500 (0.236 Fibonacci level)
195.000 (previous high)
Support Levels:
184.000 (1.618 Fibonacci extension of Wave 3)
180.000 (psychological level and key support)
177.000 (2.618 Fibonacci extension of Wave 5)
Market Sentiment and Trade Strategy:
The GBP/JPY pair appears to be forming a strong bearish setup, supported by Fibonacci levels and Elliott Wave projections. Traders may consider:
Sell Positions: On retracements to the 0.382-0.500 Fibonacci level of Wave (3).
Take Profit Targets: 184.000 and 177.000.
Stop Loss Levels: Above 193.500 to mitigate risks.
This bearish analysis assumes the pair respects the Elliott Wave structure and Fibonacci levels without invalidation from unexpected market events or strong bullish reversals.
GBPJPY set for a possible riseRevised Analysis with Projections
1. Current Ichimoku Cloud (Kumo) Analysis:
Kumo Future Projection:
The cloud ahead is green, signaling bullish potential.
The cloud is flat on the top, indicating possible resistance near 194.9.
Support levels sit at 192.9 based on the bottom of the cloud.
Price Action:
Price is trading near the Kijun-sen (red line) and above the cloud base, a neutral to slightly bullish signal.
A pullback to the Kijun-sen around 193.8 or cloud support at 192.9 is possible before a move higher.
2. Ichimoku Wave Theory (N-Wave and P-Wave):
The N-Wave:
An A-B-C-D wave formation is developing:
A: 192.2 (recent low on Dec 5th)
B: 194.9 (recent high)
C: 193.0 (potential support pullback zone)
D: Projection upwards to 196.0 (extension of AB leg if the uptrend resumes).
Projections:
Take-Profit 1 (194.9): Expected within 8-12 hours (2-3 candles on the 4-hour chart).
Take-Profit 2 (196.0): Expected within 20-28 hours (5-7 candles).
3. Ichimoku Time Theory (Kihon Suchi):
Time cycles suggest possible turning points every 9, 17, or 26 candles:
The recent uptrend began around Dec 8 (approx. 7-9 candles back).
The next time window for reversal or continuation is around Dec 15-16.
A breakout above 194.9 or below 193.0 is likely to occur within this timeframe.
4. Trade Setup with Projections:
Buy Entry: Near 193.3-193.8 (pullback to Kijun-sen).
Stop-Loss: Below 192.9 (below cloud support).
Take-Profit 1: 194.9
Time Projection: Within 8-12 hours.
Take-Profit 2: 196.0
Time Projection: Within 20-28 hours.
Conclusion:
The trend is bullish-neutral with a higher probability of continuation if support holds.
Watch for a decisive break above 194.9 for confirmation of bullish momentum.
Projected Timelines:
194.9: 8-12 hours.
196.0: 20-28 hours.
GBPJPY ASCENDING ChannelGBPJPY is tradind inside an ascending channel
i think it will continue up to test the upper channel arround 193.00
try to have an entry at 189.75 or direct market entry for medium risk
check the chart notes for details
GBPJPY: Channel Up rally has started.The GBPJPY pair is neutral on its 1D technical outlook (RSI = 49.167, MACD = -0.620, ADX = 31.719) as so far it remains under both the 1D MA50 and 1D MA200, which are very close to each other. Basically today we are having a clean technical rejection on those two. In spite of this, the prevailing pattern is a Channel Up and we have already started the 3rd bullish wave. The two prior started after a 1D RSI Bullish Cross and the shortest one has been +7.34%. We are aiming for this extension (TP = 201.900).
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GBP/JPY: 24-Hour Market Sentiment and Trade Analysis GBP/JPY: 24-Hour Market Sentiment and Trade Analysis
I spend time researching and finding the best entries and setups, so make sure to boost and follow for more.
Market Overview (Last 24 Hours):
- OANDA:GBPJPY is trading near your sell entry point at 194.027, showing signs of bearish momentum on the 15-minute chart.
- Weakness in GBP reflects recent concerns over the UK’s economic data, while the yen benefits from safe-haven flows as risk sentiment deteriorates.
Technical Overview:
- Support Levels: 193.458 (TP1), 192.904 (TP2)
- Resistance Levels: 194.298 (SL), 194.500
- Indicators: Bearish divergence on RSI supports the sell bias, while MACD on the 15-minute chart confirms downward momentum. Price is also testing a descending trendline.
Fundamental Catalysts:
- Economic Data: Recent UK retail sales data showed weaker-than-expected performance, pressuring GBP lower.
- Geopolitical Events: Risk-off sentiment globally has bolstered the yen, driving safe-haven demand.
- Liquidity: Volatility on GBP/JPY remains elevated, providing trading opportunities on the 15-minute timeframe.
Planning:
- Bearish Continuation: A sustained break below 193.800 could lead to TP1 (193.458) and potentially extend to TP2 (192.904).
- Reversal Risk: A rebound in GBP or broader risk-on sentiment could test the SL at 194.298 or higher.
Key Data Points Table:
| Pair | Entry | SL | TP1 | TP2 | Catalyst |
|----------|---------|---------|---------|---------|---------------------------|
| GBP/JPY | 194.027 | 194.298 | 193.458 | 192.904 | Weak UK data, safe-haven flows |
Sentiment Heatmap:
- Market sentiment is mixed, with yen strength driven by risk aversion and GBP facing pressure from weak fundamentals.
Note:
- This setup is ideal for a **short-term scalp** or **day trade**, targeting quick movements within the 15-minute timeframe.
When the Market’s Call, We Stand Tall. Bull or Bear, We’ll Brave It All!
