Gbpjyp
Perfectly executed down move on GBPJPY To copy the same trades that i take follow my Instagram and DM me @MoreProfitsFX
1.OVERVIEW OF ALL TRADESI thought it best to give a picture of how the trades played out.
In general what was applied was S&R, wave analysis, volume & other none technical analysis(beyond tech) .
A few educational posts were added in between.
Some trades took longer than others .
GBPJPY SellGBPJPY has reached a daily trendline retracement along with the 200 ema we might see a sell of on the pair
Incomplete wave countAs other pairs lag ,i thought it would be nice to do a rundown on the two pairs with similar incomplete wave counts.
As seen on both Gbpusd & gbpjpy
The extension moved to the wave 2 of the wave.
Similar formation both ending at wave 2.
GBPUSD
GBPJPY
GBPJPY, Bristish Pound/ Japanese Yen W1 DOWNThe price broken trendline, and close below support.
-- SELL
Note: The tendency is upward and still strong.
GBPJPY BUY This is not an ideal pattern, the treding is clearly bullish and for many months we have been both looking to trade this one and buying it. The current pullback appears to be the start of a C wave higher, if so it will unfold in 5 waves matching the A leg. However the buying area goes beyond the invalidation line for their particular wave count. A break of the invalidation line would mean we need to re-think what is happening.
I'm going to watch this this morning and dependant on a few factors, trade it on the managed accounts. As a signal I'd take half lot sizes at 150.55
GBPJPY Forecast for Short position after Cypher completion.Currently the Price action looking for bullish position to complete the pattern.Once it completed ,forecast for short position
Uptrend Channel BrokenSL- 146.342
TP- 142.182
Just over 3:1 Reward risk
I'm very new to this and this is my first time.
I would greatly and sincerely appreciate feedback and criticism.
Thanks,
having neutral on 240m chart GBPJPY Waiting to break out either one direction , maybe going down or up , my guess is short ~ pls leave ur review and comment pls , i appriciate ur golden comment , so that i can learn more
