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Gbpjpylong

GBPJPY: Who from the weak will prevail?GBPJPY Intrada y - We look to Buy at 161.30 (stop at 160.00) Selling pressure from 163.56 resulted in all the initial daily gains being overturned. The current move lower is expected to continue. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 165.00 and 165.65 Resistance: 165.65 / 168.70 / 171.90 Support: 162.15 / 160.60 / 158.70 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets
GPBJPY - Horseshoe patternTrading Plan: Horseshoe pattern - I am waiting on price to reach 165.000 to enter a long on the retrace in the golden pocket, as always I look for scalping opportunities in the main supply/demand zones, I just use S/R flip strategy for this. Weekly: Price has double topped on the weekly time frame, hasn't broken the high of 168.710 or the low of 155.609, from a macro perspective price is technically still in an up-trend Daily: Price has broken neckline low of 161.727 and has been in a retracement ever since, until price closes about 165.000 I will still say it is a retracement as opposed to a reversal. A close below 155 - 160 on the daily would be ideal to change the overall macro trend Lower time frames: Price has attempted to double top the 167.855 however fell short on the second rally up at 167.444. Price continued down reaching low of 160.367 however no break and close below 160. The impulse wave down from 165.00 to 161.500 is currently being corrected, price does appear to be making a slow bullish retracement to 165. Price formed a descending broadening wedge which is a reversal pattern, it has played out to the target, now I am awaiting more data to confirm a solid reversal (close above on the 4hr 165.000)
Long
by courtwann
GBPJPY - Descending broadening wedgeWeekly: Price has double topped on the weekly time frame, hasn't broken the high of 168.710 or the low of 155.609, from a macro perspective price is technically still in an up-trend Daily: Price has broken neckline low of 161.727 and could be due for a short term retracement given consecutive days in the red. A close below 155 - 160 on the daily would be ideal to change the overall macro trend Lower time frames: Price has attempted to double top the 167.855 however fell short on the second rally up at 167.444. Price has since continued down reaching low of 160.367 however no break and close below 160 for now. Price appears to be creating a descending broadening wedge which is a reversal pattern, it may play out to the target as a retracement or it could be the start of a bullish trend. Trading Plan: For now I will be looking to enter long position and as always will be looking out for a short scalping opportunity.
Long
by courtwann