GBPJPY another leg down or fake move??Looking at jumping on any quick moves out of 152.800, this quick sell off could have just been a fake move to attract more short sellers before making another push up... but am well aware of overall price downside structure so will respect a further downside move as well
Gbpjpybuy
GBPJPY, 4HR TF, one more push for wave-5Hello my friends,
It has been long since my last post in tradingview.
I think we might see one more push to the upside for GBPJPY as price currently sitting on support.
Assuming this downward movement is wave-4, we could see price push towards 159.00 area to complete wave-5.
Buy GBPJPY 153.00
Stop loss 152.40
Take profit 159.00 (10R)
Use 1-2% risk only
Good luck
Disclaimer ON
GbpJpy- 153.50-154.00 is my buy zoneAfter it has reached a high at 158, GbpJpy has started to drop but let's not be fooled, this is just a correction to the recent leg up.
Also, the overall trend is strongly bullish so, the safer way to trade is on the buy side.
From the technical point of view, between 154 and 153 there are a lot of indications of support including horizontal support and Fibo 50%
That being said, i will look for buy signals in that zone with a target around 160
GBPJPY; Long Term BuyGBPJPY has broken above and retested a major weekly/monthly resistance. the next target is 162.430 (also matches Monthly 200EMA lvl). SL is below last lows (triple bottom on 4H T.f) (⚠️If you want to be safer, you can place your SL way below the support, at 155.100. My account's risk allocation doesn't allow that so i went for a smaller, but still structurally correct sl. Always keep in mind risk management and your account size while calculating your SLs.)
GBPJPY: The Retracement is overPrice broke above and rejected that 155.950 daily resistance level, multiple daily wick rejections as well as what can be identified as a triple bottom on the 1H prompted me to take the trade. The final trigger for was that mini support/resistance level on the 1hr (156.450) getting rejected. I put my sl right below for 20 pips (which is a bargain for GJ) totaling a 1 to 8 risk to reward ratio.
GBPJPY: High WipeoutsThis pair just took out the previous high as well as the weekly high!
Could it be time for some retracements?
If we manage to hold around this level without pushing higher, I would like to sell all the way down into the weekly equal lows.
What are your thoughts on this analysis?
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Gbpjpy gbpjpy is very very bullish, on this situations we can profit also from pullbacks because on these cases pullbacks are 100+ pips, so a break out below support could be a good idea for sell 156.700
-buy at demand zone 155.400 if we see rejections, this trend is very bullish so i think this monthly candel will reach 161.000
GBPJPY trade ideasI always make sure I move my stop loss to entry point to cover the risk when I'm look at taking these aggressive moves. We should see further weakness from the yen which will push us higher on usdjpy and gbpjpy, but as always remember we can see a fast sell of at any time so be smart and don't just by any random pull back, make sure the price action is creating a nice opportunity
How I look at fast bullish runs USDJPYJust a bit of a look at how I trade these pairs when price is on a huge upside move. It can be very rewarding when you get entry's and straight into risk free but remember anything can happen and just cause price is looking so strong, we can get sell offs whenever... its better to be safe then lose.. risk amounts stay the same ALWAYS no matter how good a setup looks.
GBP/JPY Full Analysis And New Long Setup After Daily Closure This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
GBPJPY: Sells Into BuysPlease read my previous post to understand the long term directional bias.
I will be selling into swing buys.
I assume the sell setup will look something along these lines once we purge the trend line liquidity and fill some of the imbalance.
I have created an illustration to make it clearer for you.