Gbjpyanalysis
GBPJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY SELL ENTRYPrice has faked out above the high of the day, broken back below and rejected a 15min support.
GBPJPY AGGRESIVE SHORTSShort limits set to catch a potential top.
Higher risk entry
CHECK OUT 2021 SIGNAL TRADE JOURNAL FOR INVEST BEYOND.
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GBP JPY updateSame institutional candle theory behind this trade, I think I posted this idea on tradingview.com on my other account instead of uk but still, same idea.
Better R:R than my GBPUSD buy but literally the same setup, HTF bullish structure so look for buys, simple. Where to buy? Look for the last institutional candle
Running around 8% around 120 pips. Securing most here and leaving some to run, we could blast through this M formation
Institutional buy on GBP JPY/ order blockIf you know about institutional candles this is something to look for, daily uptrend but finding some weekly resistance at the highs. Last week closed doji so we could have a final push up to take out previous highs before swinging back down.
Institutional candle = trapping sellers on the wrong side of the market before a strong push in the opposite direction (up) - Banks loaded up on shorts at the institutional candle (IC) highlighted, then hedged up on even more buy orders at the candle low causing the market to rocket.
When they take profits at the highs, it causes price to retrace to the IC where the banks will mitigate their short positions at a small loss / break even. This causes the market to shift once again in the bulls favour. This is sometimes called an order block as the orders are locked into the market and if the market should continue up, the price is 'blocked' from breaching the level. If it does break then it becomes a breaker block and look to enter shorts at the retest of the order block.
By trading this IC, it offers very good R:R as you have your stop below the wick of the IC, I recommend researching into institutional buys and pairing it with your other knowledge! Institutions don't lose in these markets!
Good luck
GJ July H4 Analysis - Potential Bearish SetupGJ is in an overall downtrend however it broke out of bearish market flow. Price is on a minor uptrend but is starting to slow down in momentum. RSI is currently showing H4 bearish divergence so we can expect a potential double top as an extra confluence to take sells this week. If the market breaks and retests the previous high, sell bias would be invalidated.
GBPJPY Short Term Short Trade!With no major News coming out during the day which an effect the pair directly we must only watch out for a slight impact when the News regarding USD (consumer Price Index comes out Today). News on GBP Consumer Price Index MoM which would be released on Wednesday could set off a directional movement for this Pair. Till that time only a slight impulse is expected as a result of USD: Consumer Price Index News, which is slated for later in the day today. Brexit which is slated for this Month end will weigh heavily on the minds of the Traders. Till that time, at least till the last week of Jan 2020 it is expected that GBPJPY will tread downwards looking to test Jan 2020 Low formed on 8th June. The long bottom wick formed on the daily candle would indeed serve as the testing zone for some range bound trading in that zone.
