GBPJPY SELL OVERVIEW (2D TF UPDATE)📈First update of the week - GBPJPY! Bullish momentum is slowing down, as we get near to the top. Institutional money managers are opening their sellers order, making GBPJPY go into a redistribution phase. We should see more & more sell orders being opened & the official downtrend start very soon, around January 2024. Which is just over a month & a half away😉
Gbjpy
Gj drops to HELL !!!!As we seen last week price was ranging the whole week before doing a 600pip drop! Just to end up right back in the same exact range that it dropped from 181.000 - 182.000. To me that says a lot especially looking from the daily timeframe and not allowing the smaller timeframes to throw off my game. I am interested to see what price does exactly next week. Happy trading Traders!!
Set ups for GBPJPY - Buy & SellD,4H,1H,15M time frames are bullish.
1st set up - BUY
entry target is 175.222 just waiting for the 15m/1h rejection before entering.
2nd entry at 175.396 (5min/15min Time frame) with 176.400/176.300 as target (previous high)
111 pips
2nd set up - SELL
if price breaks below 175.170 5/15 min time frame, will go in for a sell 174.435
73 pips
Anyone got similar set up for today?
GBP/JPY Short OpportunityFX:GBPJPY
We finally see some strength coming back in the Yen.
We have hit the bottom the Daily Range and might see some upside momentum coming in, before we go down further for a bigger down push.
With the Help of our TDT Reich System we will wait for the right opportunity to enter the Market, likely on the Hourly.
GBJPY Blending Smart Money Concepts with Long Money ConceptsSmart Money Concepts since its inception with ICT have polarized the trading community mostly in a positive way, and I think said concepts are more handy for traders who have experienced many cycles in the market and are looking to refine their edge
with the advancing technology and the transaction basis of today's exchanges based on a liquidity perspective.
ICT has pioneered a new way of understanding liquidity especially on the granular side of trading, but most traders, including myself, that don't have the edge which is tenure and experience, these concepts are too simple for a complex sport, and the play book of course
is tailored to the team's strength and weaknesses.
One thing I have noticed in the trading community is that since there is no barrier to entry, like any entry level job, without the experience you cannot expect to make much off trading in the beginning phases as a trader. You have to study theory, history, psychology, and just the environment around the ticker
and tape to really grasp the notion of the science. Yes, trading is a zero sum game, but let us not get lost in that saying because mostly everything in life is zero sum. Ying and Yang.
As of recently I stopped annotating things like break of structures to define trends, chochs, and unnecessary order blocks. Think about it. What really is a break of structure?
What is really a change of character?
Liquidity Sweep?
Imbalance?
Think about it all these terms coincide with events that in reality define a certain market personality. To my perspective, none of these terms actually exist on the chart.
If you go by the assumption that pricing has already accounted for the events in the then to now, then in reality, there is no real imbalance, liquidity sweep are just market fluctuations, and a choch is literally price curb tailing itself in the other direction, simply put.
But then you have to ask yourself the famous SMC question.
Where am I in structure?
That's where the SMC free trial ends, and the error begins, now you have to buy the course from your mentor.
One thing I'm learning is that in today's timeline, instant gratification is the reason why most traders give up.
This takes time. Trading isn't a game like they say. It's not a job either. It's an understanding.
It's a language.
SMC is very powerful yes, especially for intraday traders, but for me, it's not enough to draw an actual framework that can be fractalized, besides the order blocks, which are subjective.
The market moves with intentions, and regulated prices stop on the weekend, because guess what, it's the weekend and the market makers, liquidity providers, and large speculators have lives too.
But that doesn't the intentions aren't still there.
Frequency, tonality, personality, and modes are codified in the market just as any word coming out of your mouth. It's a language. And no fluent speaker learned to speak what they speak overnight.
It takes time. Fall in love with learning this new language.
GBPJPY ! getting good enough support long tradeHello traders 👋
Although GBPJPY has formed a double bottom pattern around 160.300 and is rising, It settled at the previous strong key level of 163.600 and showed a short-term decline.A long trading prediction is that the short-term bearish trendline will break down.
is GJ forming a symmetric or an Ascending triangle?as we monitor gbpjpy we can see it forming a symmetric triangle
> for the sake of this trade/profit we will assume that it is.
most profit potential is on the 2-day chart
key point:
. Resistance:
> after the breakout, of the previous resistance 157, we see GJ made a high of 168 also failing to break this twice we can call this our roof
> after 168 we see gj failing to stay above 166 with that we can draw a counter trend line going down by two
> it is possible to see gj eventually reacting to 164 level but i believe 166 is a more interesting area
. Support:
> after getting rejected at 168 we see price bounce off levels 151 to 156.5 now it is at 161.5
> with that we can see trend line with a rate of 5
take away:
> gj is on the verge on forming a symmetric triangle
> keynote that boost my confidence with this analysis is with the sell off last week we still see gj managing to close inside this triangle
> we should see gj bounce off from 161 to 164 or possible 166
outlook:
> if we are not in this buy, we will watch gj's buy up to 164/166 on the 2/3 day
> if there is a breach of on the 2/3 day, we can assume two things: there is a breakout or there is a trend break to the larger ascending triangle
>we will classify it as a breach when price opens or closes out of the symmetric triangle
NB: IF THERE IS A BREACH OUT OF THE SYMMETRIC TRIANGLE THEN PRICE IS REACTING TO THE LARGER TREND ASCENDING TRIANGLE WITH THAT, WE SHOULD SEE PRICE RETEST 168 LEVEL.
> After that we take profit and wait for more information to determine our bias
GBPJPY - WEEK 15 ANALYSESMonthly bias - short:
Rejection from the monthly sell zone + liquidity run above previous high.
Weekly bias - short:
Previous weekly candle is filling the pin bar wick that we’ve created in week 13. This tells me that we’re almost ready to create the next move downwards.
Week 15 - analyses:
I expect a push up towards the 162.8 area where the .618 fib is located in the beginning of the week. Be cautious for a liquidity run above the previous wick at 162.725 (see red zone).
After the move up I think that we’ll see a strong move down towards 159.9 area since we’re in a Monthly Sell Zone. The next major level of support will be at 159.9, this is where GJ maybe finds some support but since we’ve tested this area multiple times (see red arrows) It may break this level and move further towards 157.5 where we’ll find our next fresh support/buy zone.
GBPJPY > Strong Zone for A Buy!!Analysis on #GBPJPY
The GBPJPY may soon come to test a strong structure support zone near a very strong level 150.00 where buyers showed interest at this level.
>> If the market test my weekly structure support level where I will look for the market to turn bullish on the lower time frame, before looking for a buying trade with a good risk to reward if the entry rules are met.
⚡we need to be extra careful, markets are not respecting technical analysis due to current world circumstances
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Thanks for your continued support!
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Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only*
156 level very important for the GBPJPYThe 156 level is extremely important for the pound yen, if price breaks above it and finds support, we will be expecting price to retest the top of the consolidation channel at 160. Otherwise, we can expect to see price retest the bottom of the channel at 149. We are neutral on this pair.
DeGRAM| EURJPY strengtheningThe euro has significantly strengthened over the past week and is very likely to continue to strengthen against the yen. A possible new starting point upwards will be the level 131.345, which is supposed to be approached at the very beginning of the week.
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GBPJPY > A Possible Harmonic Bullish Bat Pattern!Analysis on #GBPJPY
A possible harmonic bullish bat pattern might complete soon near a very strong structure support level looking left to provide me a reason to get in buy trade if the rules are met.
like and comment will be hugely appreciated, thank you so much for your support.
Check today analysis below⠀
>>“ Success is where preparation and opportunity meet." TradingAxis
WILL THIS STRUCTURE PLAY OUT FOR GBPJPY?Hey traders, while analysing the intraday timeframe for GBPJPY i noticed that the price failed to make a higher high to continue with a bullish move. And finally we can see a head and shoulder pattern in 3h. This is a great signal for a further bearish move. I'll look for shorting opportunity only once the price breaks and retests on the neckline.
What is your opinion?