GBP/JPY : Resistance at 50% fib level + H&S pattern
Updated
Hey guys,
We have a currently a nice resistance at 50% fib retracement from the top (assuming it's the head of the pattern).
Stop placed slightly above 61.8% fib level.
We also have a nice bearish divergence in terms of RSI in M15 timeframe (see below).
I am shorting, my target is 150.700.
Best,
Jesse
We have a currently a nice resistance at 50% fib retracement from the top (assuming it's the head of the pattern).
Stop placed slightly above 61.8% fib level.
We also have a nice bearish divergence in terms of RSI in M15 timeframe (see below).
I am shorting, my target is 150.700.
Best,
Jesse
Trade active
Entered short at 152.232Comment
H4 VIEW Comment
Price is going up but volume not Comment
I am adding more to my shortsComment
I could be wrong but since volume is not supporting this move, it could be a bull trapComment
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The answer in a couple of minutes. Could have just been a market manipulationComment
Confirmed! They didn't get us on this one!Comment
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now relax and get a beerComment
The "bitchy candle" Comment
ready for a ride ?!Comment
OK guys, this has nothing to do with my idea, but i'm just curious... How can a user post a single idea, have a reputation of 20'000+ and more than 14'000 followers ? I don't get it...If someone understands lolComment
Boring PA. Off the screens til tomorrow it’s already night here. Have a good end of day/evening/night guys !Comment
Hi guys,trade still ongoing. Waiting for some action this morning.
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Nothing really special happened overnight. The pair looks stretched nowComment
4 rejections of 61.8%Comment
I am off a couple of hours. Comment
Ascending volume while price is going down = bearish Comment
Bearish trend in place, selling any PBComment
The pair broke an EMA support as you can see below. Volume confirms the move which is also good.
I will not keep the trade during the JPY interest rate decision which is overnight for me. So it better go down fast! :-)
Final target has not changed.
Tomorrow no trading for me, as every friday.
Best,
Jesse
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The pair could go down even more and test the Daily fibo at around 150.450 but, come on, it's already a very decent profit huh? :)Comment
Currently trading at 50% from top, let's see if it goes back down from here or from 61.8%. Comment
Decreasing volume Comment
ok guys back from my meeting. GBPJPY has retraced all the way up to the top of the formation but still I don't see any volume accompanying this move, so for ME it's still an opportunity to short it.
Will give some updates later on
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Hi guys, Very challenging pair today, with lots of false signals !
I am still in the trade since it's flirting with the 60.8% fib level
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look at that! So much indecision out thereComment
These candlestick could suggest we have an exhaustion, looks again that the pair is stretched in this areaComment
CHOOSE A DIRECTION GBPJPY! I think this time is the good oneComment
UPDATED CHART GUYS Comment
I just don't like keeping overnight positions when we have "red news", in our case we have Tokyo CPI EX FRESH FOOD + UNEMPLOYMENT RATE + LARGE RETAIL TRADERS so It should definitely go down by then. You guys are holding it?
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I like this engulfing bar (but it must close like that in about 20 minutes) + this RSI divergence Comment
Time to get some fresh air and enjoy the sun! Update in a few hours guys, take careComment
Currently trading on the trendline Comment
This is the final target, to complete the target. As you can see it's a confluence zone with the H&S as well as a strong fibonacci daily.
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Will book my profits before the red news, hopefully at my first target (as shown above) at 151.720.Comment
ZzzZZZ correcting before going down again ZZZzzZComment
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Sorry guys for some reason my screenshot cannot be copied. But it's correcting...Comment
Currently trading at fib zone. Should go and test the next one lower
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Approaching final targetTrade closed: target reached
Final target of 150.7 reached ! Good weekend guys
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