Selling $GBPJPY here - adding another sell order Trade type AAA
Reasons for taking this trade:
- We had weekly supply zone.
- There is internal liquidity waiting to be cleared.
- 30 mins candlestick has closed bearish engulfing.
- We hit 30mins supply hence we got our reversal accumulation.
My previous idea is still in profit
Trade type glossary:
Trade type AAA - Very good
Trade type BBB - Good
Trade type CCC -🧐
I usually use trade types to determine the amount of risk to use:
In AAA - 1, 1.5 and 2%
In BBB - 0.5%
IN CCC - 0.25%
Gbpjpyanalysis
GBPJPY Trading Plan - 16/Apr/2023Hello Traders,
Hope you all are doing good!!
I expect GJ to go Up after finishing the correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
GBPJPY top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. 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.
Selling $GBPJPY hereTrade type AAA
Reasons for taking this trade:
We hit weekly supply zone.
Liquidity pool above 166.630 has be cleared.
We are at premium price level hence a retracement is inevitable.
Trade type glossary:
Trade type AAA - Very good
Trade type BBB - Good
Trade type CCC -🧐
I usually use trade types to determine the amount of risk to use:
In AAA - 1, 1.5 and 2%
In BBB - 0.5%
IN CCC - 0.25%
GBP/JPY about to reach Resistance level, should you sell?After hitting the dynamic support level last week, GBP/JPY has rallied quite strongly. Price is currently
just below the resistance level and looking at the momentum, it seems GBP/JPY has a high probability to
reach the resistance level that I have highlighted in my chart.
Traders should adopt a "wait and watch" approach for now and see the price action at the resistance level.
If we see some bearish price action with rejection candles at the 166.40 level, traders can consider selling.
Probable Trade Signal
Sell GBPJPY@166.40
Stop Loss(SL): 167
Take Profit(TP): 163.51
The above signal will be valid only if bearish price action forms at the mentioned resistance level
GBPJPY daily rejection at 164.68 since Dec 2022Looking at the price chart, we can see price has done a Change of Character, and it is currently pulling back so it can go for a Break of Structure.
I am anticipating the reversal of the pullback at 164.50 - 164.74 region because :-
i. We have an Order Block yet to be mitigated in that region.
ii. We have 50% Fib Retracement level of wave A at 164.60
iii. We have a Trendline Liquidity around that region
iv. Looking at the upward correction from 162.78, it resembles a Flag
v. Looking at the Daily chart, I observed that we don't have any candle close above 164.68 since December 21, 2022, which I refer to as a Resistance/Supply zone.
In summary, we have a small buying opportunity from 163.80 - 164.65 but I would recommend looking for selling opportunities instead because no candle had closed above 164.68 yet on the daily TF this year and I don't think it would be happening yet due to the confluences of selling signals we have.
I would love to hear your thoughts 🤔, feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
GbpJpy -> This Is The SetupHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area.
You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside.
On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely.
Thank you for watching and I will see you tomorrow!
DeGRAM | GBPJPY complex pullbackGBPJPY is testing the resistance level, which is psychological level 164.000.
Price action made a sharp move down, and it will most likely go down further.
We expect a retest of the support level.
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GBPJPY below 163.77Last Month's Open and Close is around 163.73 - 163.77 region and from what we can see so far, price broke and has stayed below it.
Reasons I am staying Bearish ATM
1. As long as price doesn't close above 163.77, I believe our bearish momentum continues
2. We had a change of character when price broke through 163.00
3. I am expecting a pull back to 163.77 before a break of structure at 162.77
4, I believe we are in a 5 wave movement downwards to 161.39 - 160.85, where we have an order flow.
5. Price is still below the 50 EMA and 200 EMA
The orange zone marks my entry and where the last order block is situated which also coincides with our last month's close/open, whereas my target is 160 region. Any price movement above 163.90 invalidates my analysis.
There's a buying opportunity between 163.00 - 163.80, although we are bearish, we can also scalp the longs.
I would love to hear your thoughts 🤔, feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕