GJ 1H M Formation IdeaLooking for price to sell down to take out sell side liquidity after completing this M
D-GJ
GBPJPY Approaching Key LevelIn long-term time frame, GJ is in an uptrend and bullish. In lower time frames we see that price is moving in a minor downtrend.
Price has made a lower high but failed to make a lower low and was pushed to the upside after retesting the S3 around 165.192 which is a strong support level.
On the other hand, price failed to break the R1 and got rejected from it and is being pushed to the downside.
I expect GJ continues dropping for now towards the next support level (S2) which is around 166.744. Afterwards, because S2 is a key level and might push the price to the upside and reverse the movement, we should wait for price to see if it breaks this level (S2) or not:
If price breaks S2 strongly, the next target would be the next support at 165.200 (S3).
On the other side, if price failed to break S2 and was pushed to the upside, we expect a rise on GJ towards the red resistance level (R1) at 169.00
GJThe amazing thing about being human and not a wall, is that you can move, you can change and that people don't see you and think toilet (I would hope😁). This shows us that our analysis was right but not inline with the market. So now we clear the screen and analyse with what the market is now showing us and forecast from there.
GBPJPY Weekly Analysis 7/11/2022 to 11/11/2022Price while moving in a HTF uptrend channel, facing Major support at 165.119 & resistance at 167.834. Now if price closes below the support then it might continue coming down to make a deeper reversal towards the next key levels at 163.210 or 161.041.
Similarly if price closes above the resistance, then it might continue pushing up to retest the previous high at 171.411 or create higher high continuing the HTF uptrend channel move.
GBPJPY Monday Manipulation GBPJPY Outlook for Nov 7th- Nov 11th
LONG if Closes Bearish
Top-Down Analysis: Starting with a Top-Down analysis POV. In the Daily I will wait and watch for how Monday will Close. Remembering that Monday is huge day for manipulation we need to wait patiently. We do not always need to be in the market. A successful trader is a patient trader.
Trend Analysis: Last week GJ broke out of its channel. This could be a fake out to reel in orders. But, again, we will wait to see how tomorrow closes to adjust how we will attack this pair this week. I expect the pair to close bearish tomorrow.
Fib Retracement: Looking at the Latest Move and applying the Fib tool, we can see that GJ reacted to it’s .5 retracement. Also in this region you will see that GJ is reactionary to 165.000.
50/100/200EMA: Looking at the EMAs, you can see the GJ is currently reacting to the 100day (yellow) EMA. I expect GJ to stay above the 100day, and react to it, as I have placed the LONG entry zone. If everything plays out to this action, one could take advantage of another 300-500pip impulse.
If orders start to flood in, the price action will NOT move with a straight impulse as One would like, and it would invalidate this theory. An influx of orders will cause a volatile week, where we can see spreads reaching to sweep S/L’s, if that is the case.
SHORT if Closes Bullish
IF GJ closes bearish tomorrow, I expect to GJ to react to 168.000 before another move to the downside. If price moves to the downside this will, validate the Fake-Out, which I previously mentioned, and stay within the channel that it has been moving in the past week or so.
What are YOUR Thoughts? I’d Love to hear from you!
This is not financial advice! This is my Own Outlook on GJ’s price movement at this given time.
Thanks and I hope you enjoyed the read… Have a great Week!
GBPJPY 4/11/2022Price after a retest on a HTF major support zone at 165.058, its currently showing signs of facing support as it formed a double bottoms pattern there followed by some price rejection/bullish momentum while its also facing resistance at 166.257. now if price on a 30m TF closes above the resistance, then we can expect gj to go for some reversal all the way towards the next HTF key level at 167.685.
And if price closes below the support then gj might continue its bearish run towards the next key level at 164.258.
GJThis is the last update for the day on GJ, because you can manually close or watch it as it strokes the strength of your psychology by baby kissing the TP
GJFor the sake of transparency, move your SL into profit. It still is NFP week so we put an even sharper eye on in order to calculate our moves. We move and we move and we move. Loss or Profit, same reaction. Your average trades in the end should still be in profit even if its R10.
WE MISS 100% OF ALL THE CHANCES WE DON'T TAKE. I did not even take the trade🙈🙈 but I forecasted.
GJYou can see the market direction, just a textbook pattern. So we will wait not only for the BREAK but also for the RETEST and the continuation.
GBPJPY 1hr TF View 1/11/2022BUY on Close above 170.760
BUY TARGET 1=171.150
TARGET 2=171.580
SELL on Close below 170.320
SELL TARGET 1=169.880
TARGET 2=169.270
👀 GBP/JPY - update : buy signal ⚠️The yen is still weak and facing selling pressure, and there is no tightening from the Central Bank of Japan to stop the yen's fall.
After breaking the resistance level of 170.00, the price retraced and test the previous support area of 179, which I see as a good level to continue the bullish trend.
GBPJPY 2/11/2022The price is currently moving in a downtrend while facing strong resistance at 170.342 & support at 169.392. now if price close above the resistance in atleast 30m TF, then it would be a breakout of the downtrendline and price might continue its HTF bullish run to retest the previous highs at 171.707.
However if price closes below the support then it might continue its downtrend to retest the next support at 168.749 or 167.797.
GJManually closed. Not liking how the market is moving but those that are confident in the movement can hold on. I'm out and I'm going on about my day
GBPJPY 1hr TF ViewBUY on Close above 169.370
BUY TARGET 1=169..870
TARGET 2=170.150
SELL on Close below 168.820
SELL TARGET 1=168.450
TARGET 2=168.220
GBPJPY 26/10/2022Price while moving in an uptrend, after a retest on a higher TF resistance level at 170.003 started to form a build up phase, than it broke out of the build up phase to create a new higher high at 170.574. now price forming a ranging structure while facing resistance at the new high & recent support at 169.954.
So if price respects the recent support & breaks out of the new high with further bullish momentum, then we can expect price to continue pushing up in respect to the uptrend creating higher high to all the way retest the next HTF resistance at 171.711.
*A break & close below the support at 169.362 would invalidate the long trade opportunity on GJ.
GBPJPY Daily TF analysisAs analysed last week. GJ painted a massive double bottom and broke the high structures to the left. I thought that price would pull all the way down for a retest before pushing back up to continue the double bottom pattern. As we know price doesnt move in 1 direction indefinitely, so we always get a pullback. But if momentum is strong enough price doesnt always pull back as hard as we expect, before moving in momentum again.
So as it stands, GJ is in a bullish pattern, with possible intraday sells, if the conditions are right, however, everything points towards a long term buy. When we go to the weekly chart, we are also in a very strong bullish momentum, so trade with caution
GBPJPY 25/10/2022Price currently ranging in between 169.835 as resistance & 167.188 as support while also moving in respect to a higher TF uptrendline. Now if price breaks & closes above the resistance at 169.835, then we can expect price to continue pushing up creating higher high while moving in respect to the uptrendline.
However, if price closes below the support, then we can expect price to continue pushing down to retest the next support at 165.009 by breaking the uptrendline.
GBPJPY 21/10/2022So we are still ranging in between 169.313 as resistance & 167.574 as support. Also we have a shorter TF resistance level formed in between the ranging zone at 168.667.
Now if price closes below the support at 167.563 on 30m TF then we can expect price to continue pushing down to the next support level at 166.972 or all the to 165.601.
Similarly if price closes above the recent resistance at 168.667, then price might continue pushing up to the next key zone on the long side at 169.324 or all the way to 170.071 as shown in the chart.
GBPJPY Midweek reversal? If price closes under this zonre4hr chart on GJ shows a potential double top, with a smaller structure double top on the first leg, price has now broken the support of 168.580, and is currently testing it as a resistance. Smaller time frames show shapes for a sell, so I anticipate a sell on this market. I will wait for the 4hr stick to end so I can make a better decision on the pair. My earlier analysis of GJ is invalid.
Patience
GBPJPY 20/10/2022Price has a recent support at 167.736 which its currently making a break out of & also it formed a resistance at 168.425. Price also just formed multiple lower lows while moving in respect to a newly formed downtrendline as you can see from the chart. Now if price respects the resistance & closes below the support, then we can expect price to continue pushing down in that downtrend to the next Support at 167.037 or all the way to 165.542 support zone as a retracement move after the huge bullish run on HTF.
GJClosed very early so my profit was made early but left the analysis just to watch and clearly we were right. We stay working and looking for new strategies.
THIS STRATEGY IS NOT FOR THE FAINT HEARTED.
😎😎😎😎😎😎😎
GBPJPY 19/10/2022Price has a recent support at 168.015 & resistance at 168.717. And also price made a breakout of the HTF uptrendline as well signaling a possible retracement move in a newly formed downtrendline. Now if price closes below the support, then we can expect price to continue pushing down to the next Support zone at 167.047.
GJTriggered and still running in profits, I had to quickly freshen up so I couldn't close where I wanted but we still in profit. I'm having to wait for the required target before closing if not It'll close (SL HAS BEEN MOVE TO BE). I'm not a donation company so I do not donate to the market and neither should you.
