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Gbpjpysignal

GBP/JPY 4HR VIEW HUGE INCOMING BREAKOUT 4K+ PIPSAs you can see in this 4 hour view, market is forming a pennant/falling wedge, this happens to be a breakout to the upside so i expect market to breakout on top. Not mentioned in the video is the fact that market is currently forming a rectangle channel within the pattern formation and this is a sign of breakout soon to occur, highly expect a breakout this week. Using support and resistance areas you should be able to work out a good buy in/exit spots buy simply looking at market history. I have worked out that this market should give atleast 4000 pips (a potential 5000 pips) if bought at the bottom/support area before breakout. This way you learn while you trade and know how to spot patterns and how to outline them and workout your entry and exit positions. SPOTTING PATTERNS IN MARKET: cdn-images-1.medium.com pbs.twimg.com HELPFUL VIDEO TO TEACH YOU HOW TO TRADE: www.youtube.com www.youtube.com DISCLAIMER; Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. IF YOU SUPPORT MY IDEAS THEN DO LIKE, FOLLOW & SHARE. ~ THANKS! ~
Long
by Dani0
5
GBPJPY: Descending Symmetrical Triangle & Fall From Major ResistGBPJPY 4H: GBPJPY formed a symmetrical triangle when the uptrend had been reversed on March 13th. With price bouncing in between the overall uptrend and opposite downtrend, we can see a breakout in reach within the next short amount of time. Due to the downtrend passing the 61.80% line of the large move down previously, and then retesting below it, pattern should continue to go down. Symmetrical Triangles typically form right after a change in trends, which has happened recently. Looking to see price fall down to the 38.20% retrace at minimum within the next week. Entry Point: 147.87 S/L: 148.864 T/P: 146.829 Stop Loss is a high, but once the pattern gives me more confirmation I'll be adjusting that stop loss to about 40 pips above entry. (In case pattern breaks triangle clearly above to pullback before the drop)
Short
by Bills_Cosbyy