JJRoyalist

JJRoyalist

Here is my current idea on GBP JPY for this week/month. Price has already bounced off the .618 level and unless I see new market structure being formed on the MTF (4HR etc) i will continue to believe price will reach the .705 fib level. If not I will update the chart and find a long position. As seen from the chart, I have 3 targets in place for this bullish...

JJRoyalist

The two longs I presented are what I believe Pengus' last bullish scenarios. If PA breaks through the Bullish equilibrium level, I will extend my long position past the hidden liquidity and find an entry to share there. However, if the price should fail to reach that price I will look at the demand zone below (0.786 fib) for my next entry. Obviously, I will take...

JJRoyalist Updated 

Daily close above the bearish equilibrium level so my mid-term outlook is bullish. Taking a short at the 4HR 0.705 Fib back to 4HR 0.5 fib and from there would like to see PA push towards the 1D 0.705 fib where the double top has been formed. If seen please feel free to share opinions, critique etc. I want to learn from different perspectives. Thanks