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:
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HELPFUL VIDEO TO TEACH YOU HOW TO TRADE:
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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! ~
Gbpjpysignal
GBPJPY - POSSIBLE H1 50 BOUNCE IN 10 MINUTES!Hey folks,
Quick analysis on GBPJPY as price action is just being so beautiful!
We're looking for an H1 50 Bounce, which is the first pullback to the 50 EMA after 13 EMA crossed the 50.
We're going to enter once price closes BELOW 13 EMA.
Target will be @147.250
Let's see what the next 10 minutes bring us!
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)
GBPJPY LONG Target Wave X4 by two scenario
in Classic Target its Between 148.03-148.65
in Fibo Retracement
1- 149.407 @ 61.8 fibo (maybe its Target X4 and Now Going to Wave X5 because the price 149.407 hit today Friday)
2- 148.322 @ 78.6 fibo
3- 147.676 @ 88.6 the Gold percent
I SEE the Classic and Fibo Target its Same Range
Note : Wave X5 Between 154.100 - 155.410
and Going Bearish to Wave X6 (Sell inside X6)
t.me
GBPJPY Long Setup (Short Term)Longer term I am bearish on this pair but I do see room to the upside for another 150-200 pips.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.