Gbpjpysell
Called bears on this at WhatsAppAfter seeing the price rejection on GBPJPY, I immediately called bears to occur on this. Sadly before descending, my trade was taken out. Another rationale for entering a short position here was the descending behavior that can be seen on daily at 2017.05.11 to 2017.06.12 in which it shows where temporary correction is to occur before more downside pressure. Beware of the ascending trend line.
GBPJPY SWING IT LIKE TIGER WOODS!So GBPJPY is already giving you a good signal for short, why dont we try and follow the trend ;)
Trade it like you own the market
Casual 2000 pips boysTechnically: rising wedge (bearish)
Fundamentally:
JPY short positioning overextended
JPY safe haven in the event of equity downturn
GBP strength keeps inflation low - BoE will not hike
Brexit uncertainty remains
GBP positioning not overextended - room for shorts to build
Sentiment
Speculative market sentiment is very bearish yen; underestimating possibility of yen strength in case of events like August 2015
Sentiment is neutral/bullish GBP
Trade structure
Short at spot.
Add to position when wedge is broken.
Add to position every 100-200 pips of downside, trail stop to profit
Scale out at 130-125 yen
GBPJPYOur preference: lighten as long as 1.4707 is stopper with 1.4491 as objective.
Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832.
Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line.
GBPJPY Bull Party Has Only Just StartedGBPJPY is a perfect example of why you should also look at te higher time frames. If you would only look at the 30m, 1h, 4h, or even the daily you would quickly judge the GBPJPY has gone up a lot already and that it would be very logical to go back down again. How ever when you take a look and the weekly and monthly you see that price is still rather low and it actually just started its way back up.
This is also what we see here on the weekly time fame for GBPJPY. A long term upper range has been broken and its touching the same resistance now for the 3rd time. Which means chances of it breaking this time have only gone up.
So long term GBPJPY would be a beautifull buy position to hold on to and add more buys a long the way up!!!
GBPUSDOur preference: sales position below 147.60 with targets at 146.60 & 146.00 in extension.
Alternative scenario: in excess of 147.60, aim for a continuation of the rise with 148,10 & 148,50 in line of sight.
Comment: The RSI is misdirected.
Short GBPJPY Longterm Based on Daily + Weekly Charts. 500+ PipsWe went long on GBPJPY from 140 to 147 and now we have the opportunity to short this pair back down to the trend line. We can see the price has re-tested the 147 resistance line again, making it the third test in 8 months, which meets the requirements of a possible triple top. In order for this to become a valid triple top, we need to wait for price to break below the support level.
I will be monitoring this pair on multiple time frames.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
GBPJPYOur preference: sales position below 147.20 with targets at 146.45 & 146.00 in extension.
Alternative scenario: in excess of 147,20, aim for a continuation of the rise with 147,60 & 148,00 in line of sight.
Comment: The RSI is bearish and militates for a continuation of the decline.
GBPJPY h4 timezone Harmonic Patternharmonic pattern almost completed and GBPJPY Currently is at sell zone watch carefully and take good points entry good luck .
GBPJPY Short opportunityHi
Seildev here.
Area of interest 143.443 ~ 144.000 for short term sell (next week or two). And at 140.65~ 140.9 we'll be looking for a buy again.
- Fib at 50% @ High 10th/May/17 and Low 14th/Apr/17
- Another 50% Fib @ High 31st/May/16 and Low 7th/Oct/16
- Forming a classic ascending triangle
- Structure shows 143.75 to be a key level that acted as support and resistance in the past
Trade target 1 @ 142.53
Trade target 2 @ 141.558
Safe trading everyone
Longterm GBPY Long + Short Setup on 4H + 1D Charts 300-900 pips!Hope you all had a great weekend. Looks like our active trades are making great progress to start the week, so let's try to keep the momentum going!
The GBPJPY pair has been up trending on the Weekly chart since 3rd October 2016 and we can see price has touched down on the lower uptrend level a few times since then and has respected this trend line. Most recently we have come back down to this trend line and almost touched it today and so, we are expecting price to respect the trend line and bounce back up to continue it's trend pattern. On the weekly chart we can also see price hit a major resistance level on 12th of December 2016 and the 8th of May 2017 and was unable to break through, therefore our target TP will be just below this level with a return of 700 pips.
As we zoom into the daily + 4H charts, there is still some momentum to move down a little further. On the last two bounces, price was at 5% and 3% oversold on the daily chart and we only dropped to these levels when price touched the trend line and bounced up - Currently, price is 27% oversold so this would go in hand with our opinion that there is room to move down further before the bounce.
I have marked out some key support/resistance levels I want to keep an eye on as we monitor this trade setup. The conservative approach would be to wait for the bounce and enter above 141.3x for confirmation, however, I may just wait for the bounce and try to get in as low as possible and then keep a close eye on it.
On the flip side, with everything that is happening fundamentally... it is highly likely that the GBP will continue to fall and we may just see this pair break the trend line. I have marked out my potential targets for TP if we enter a sell instead of a long.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
GBPJPYOur preference: sales position below 141.20 with targets at 139.50 & 138.10 in extension.
Alternative scenario: in excess of 141.20, aim for a continuation of the increase with 141.80 & 142.65 in line of sight.
Comment: as long as 141,20 is not exceeded the risk of a depression of 139,50 is important.
GBPJPY ShortIf we look at the GBPJPY pair, we can see they have broken through the trend line, and have now made a move lower. The pair have been consolidating, and soon we could see another move lower. I will wait for a break below and close below before entering.
GBPJPY in Key Structure Point. Will it fall?Hey guys,
very few trading opportunities today on my radar. Here is one of the most interesting, we're on the daily chart and it's clear to everyone that we're about to make a decision. The structure you see looking left seems very important, and also the RSI way overbought make me think it's going to reverse. Nonetheless, you don't want to short such a trending market without additional confirmation, that's why i'm paying attention to the hourly and 4hr chart in order to seek for trading opportunities.
I'll keep you updated!
If you want to ask questions or share your view, feel free to comment below.
Otherwise, see you in the next chart!
