Gbpjpysell
GBPJPY, 2hr tf, double top pattern to materializeHello my friends,
Another setup for today is GBPJPY.
It is very clear that a double top pattern formed so we will sell this pair.
The neckline already broken with a solid close below it and this upwards movement is only a retest in my opinion.
Sell GBPJPY 139.15
Stop loss 139.45
Take profit 138.25 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
Disclaimer : I am holding GBPJPY sell position from 139.15
GBPJPY SELL So GBPJPY broke out of ASIAN SESSION high and i'm expecting it to continue to move to the downside for +120 as my final TP.
GBP/JPY TO 136.600ABCDE move into 136.600. A nice downtrend. Price is are trading below the daily level, so I see a push into the blue daily and a rejection to short the pair.
GbpJpy- sell after confirmationAfter 133 recent low, GbpJpy had a good run and is trading now at around 140.
This represents a strong horizontal resistance and also a psychological one.
I'm looking to enter short after confirmation with a 500 pips target at 1350 zone
GBPJPY - SHORTPrice is at an important area in structure, price could either sell off or go back up. On LTF, there's a possibility that price can form a descending channel which could push price back up but its uncertain because price is forming an ascending channel on the LTF while retesting structure so price can possibly sell off to support. From HTF price possibly is forming an bearish flag, price just sold off from the trend line resistance. - PMGAI
GBPJPY, 4hr tf, pennant / flag pattern to materializedHello my friends,
Today was such a good day, my trade managed to hit TP for 4.4R and i banked 8.8% profit.
I started to get my edge back and i am going to post more positions for everyone to trade.
My first setup for today is GBPJPY.
To me, the recent sideways movement looks like a pennant / flag pattern and today i finally see price retest those broken support.
We could expect price to continue decline on GBPJPY as the measured objective of this pattern is 275 pips.
Nearest support is arond 136.30 area so we will try to sell GBPJPY and see if price could touch this support.
Sell GBPJPY 137.80
Stop loss 138.30
Take profit 136.30 (3R)
RR Ratio 1 : 3
Use only 1-2% profit
Good luck
GBPJPY: keep monitored it for a possibile shortGBPJPY
Sell Limit 138.0
SL 140.2
TP 131.2
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Trading Kitchen
GBP/JPY Technical Analysis
The counter has been consolidating within a bearish flag pattern after the deep slide.
It hit the upper parallel of the pattern and then made a strong sell-off.
We expect the pair to move lower and break down in the short-term.
GBPJPY Long-term Bearish Trade SetupIn the GBPJPY 4 hourly chart above, the price decline in five waves, it's positively correlated with GU at the moment. A five-wave move is regarded as an impulse pattern, which indicates the direction of the primary trend.
According to Elliot Wave Principle, a three-wave correction in the opposite direction follows every impulse move. In GBPJPY's case, the retracement took the shape of (w)-(x)-(y) double zigzag pattern.
The most interesting thing is that, once the correction is completed the price resumes in the direction of the primary trend. If this count is correct, we can expect the price to start declining from or below the current market price in the days ahead.
Want to know how I will take this setup? Send DM!
Best of luck on the chart,
Veejahbee.
GJ Sells Breakdown 13/11/2020I don't usually take impulse entries but I
have taken a similar setup on GJ 3 times
before already this week and they were all
winning trades
Entry was taken at the point we broke below
the wick of the bearish 30m candle on support
anticipating price to come down to the next
support. I used my usual 2% risk and price
very quickly moved towards target
TP hit and I secured 3.2% account increase
If we flipped bullish I would have managed risk
by closing half of my positions so that if SL
hit I lost less than I was happy to lose.
gbp/jpy sellhi traders,
price has broken the wedge pattern and pushed straight up to daily resistance level.
i believe price will now pull back to retest the wedge pattern
await price action
GBPJPY- Watching you like a hawk "I Like the Way you Move!"Looking for an opportunity to SELL GBPJPY.
Pulling the trigger if the right price action presents itself during London Session.
I'm looking for a retest of the previous high.
GBPJPY moved over 250 pips in one day!!! Looking for price to sell. Why? I can see
imbalance in the market and liquidity that they need to come back and pick up.
Also... Not very technical, but... what goes up, must come down... lol (impulse, correction).
Happy Trading everyone!
You've got this!
GBPJPY SELL; A "devastating" SHORT!!Good for the next 2200 pips!
Also, the EURJPY
Also, the CADJPY
If one cares to know why the Yen is the ultimate Safe-Haven...
... here is a clue.
GBPJPY, 4hr tf, sell on 61.8 fibonacci retracementHello my friends,
Today is November 3rd and it means USA presidential election.
Please trade safely and play it carefully as we could see high volatility in the forex market during this time.
For today, i already closed all my positions and booked profit.
I am gonna review my closed positions first before starting with today trade idea
1st trade is EURCAD pairs which i closed at 1.5390 for +160 pips, banking +6.4% profit
2nd trade is NZDCHF pairs which i closed at 0.6110 for +55 pips, banking 4.4% profit
3rd trade is NZDJPY pairs which i closed at 69.90 for +90 pips, banking +4% profit
For today, i only gonna trade lightly with GBPJPY pairs.
Based on the daily timeframe you could see we are now at horizontal resistance level, which also happen to be 61.8% fibonacci retracement of recent downward movement.
This mean 136.45 is an area of confluences, sellers might come to try defending it
Sell GBPJPY 136.45
Stop loss 137.15
Take profit 133.35
RR ratio 1 : 4.4 (4.4R)
Use only 1-2% risk
Good luck
GBPJPY, 4hr tf, SHS pattern breakoutHello my friends,
I spotted a very good setup on GBPJPY pairs.
Price made a SHS pattern and it just break below the support with a solid candle close.
Notce also price smashed through the horizontal level so we could say this 136.40 level gonna be a strong resistance.
If we count the measured objective of this SHS pattern, it could go down towards 135.20 level
It is offering a 2R ratio so we wil try selling this pair.
Sell GBPJPY 136.40
Stop loss 137.00
Take profit 135.20
RR ratio 1 : 2
Use only 1-2% risk
Good luck
GBPJPY Watch for sellHi trades, Keep your eyes for GBPJPY to complete running flat then continuation to the downside.
GBPJPY FORECAST UPDATE* Trade hits TP 1 about 100 pips / 1000 points *
I partially closed my positions, moved SL level to a better RR and let the rest run.
GBPJPY FORECAST UPDATE* HEAD AND SHOULDERS PATTERN IN DAILY *
Price breaks from trend line of the right shoulder and retest the resistance, hence going to complete the pattern.
GBPJPY, daily tf, sell the trend line retest with ichimokuHello my friends,
I got another setup coming for you today. Another pair with JPY which is GBPJPY.
I am using daily timeframe for this setup so don't expect price to move quickly along with our direction.
Noticed that price already break below the ascending trendline with a solid candle close from previous candle.
This upwards movement was only a retest of broken trend line in my opinion and we could see price go down again. There is also 61.8% fibonacci retracement resisance around 137.00 area so we could this could serve as a strong resistance.
I am going to take a sell position here because there is some confirmations from my screener.
1st confirmation is price below the kumo cloud
2nd confirmation is kumo cloud color is red
3rd confirmation is parbolic SAR now above the price indicating sell pressure
Sell GBPJPY 137.00
Stop loss 138.00
Take profit 1 at 135.85
Take profit 2 at 134.50
RR ratio is 1 : 2.5
Use only 1-2% risk
Good luck
Disclaimer : I sold GBPJPY from 137.00
