Gj
GBPJPY trend reversal, now bullishThis is my attempt at identifying a GJ trend reversal at its early stage. This way the entry is close to the stop loss, making a great risk to reward ratio trade. We're going from bearish to bullish.
⚠️ GJ reversal at resistance levels 📢170.50There is a rejection at the resistance level of 170.50, the bearish structure became clear after breaking the support at 137.50. the Correction at 0.5 FIB retracement is a good entry point to target the bottom 165.50.
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GBPJPY Potential Forecast | 28th November 2022Hi everyone, today I will be talking about a possible GBPJPY short trade using Smart Money Concepts that could potentially play out during NY session.
Trade Idea
1) Price have cleared the supply zone and pushed lower
2) Structure has been broken and a lower low and high has been formed
3) Price inefficiency can be seen and expecting price to retrace and clear the H4 high marked by the zone
4) Anticipating price inefficiency to be cleared
To look out for:
- Price is currently respecting the area of demand zone and this could prevent price from heading lower if it continues to respect the zone.
All in all, I believe that price can potentially head lower as mentioned in my GBPJPY set up that I talked about on the 27/11/22.
Trade safe guys!
Regards,
Chern Yu
Buying GBPJPY ~520pipsI am currently in a sell on GBPJPY to 165.600, as part of my analysis of GBPJPY Correction. I would then be looking for setups to buy to around 170.860. A proper TP would develop with price action.
*This is not signal. Just an update on my trading activities.
GBP/JPY DIrectional Bias predictionsas you can see, our directional bias looks pretty confirmed bases off of technical analysis. Our structure zone(green box) that is being used as resistance/support to help confirm our initial move.lets see what happens ladies an gentlemen.
GJ reached bottom of pullback, now goes upI think GBPJPY overall is on an uptrend, and at the moment has reached the bottom of a tricky pullback. It should go up to 168.90 level to make new highs and continue the uptrend
GBPJPY Potential Forecast | 27th November 2022Hi everyone, today I will be talking about a possible GBPJPY short trade using Smart Money Concepts for the next week.
Trade Idea
1) Price has been bullish on the lower timeframe
2) Price is nearing the daily swing high at 169.08
3) It could potentially head up to test the daily swing high and we can find potential short positions off the supply zone above
4) Furthermore, sell-side liquidity has been building at the bottom marked by the liquidity hot-spots
To look out for:
- Price could potentially tap into the area of imbalance below before headed back up, there could be potential long opportunities there as well.
All in all, I believe that price can potentially retest the daily swing high above and will be eyeing short confirmations there.
Trade safe guys!
Regards,
Chern Yu
GJ Drops After PullbackAs you see in the 4H time frame, price failed to make a higher high and created a bearish reversal double top pattern and was pushed sharply to the downside.
Currently, price is facing bearish pressure but has approached to the yellow support level at 166.300 and got rejected from it.
We might see a pullback around the red resistance zone and if there was any downside push at that area, we can expect a continuation on drop on GJ to the green level at 165.300
On the other hand, price might not have any pullback and breaks the yellow support to the downside and drop straight towards the target.
What is your view about GJ? Feel free to share your ideas in the comments.
GJPart 3
Textbook sell pattern, straight forward and easy to spot. The build up of price and the steepness of the gradient, further shows us that the "Mighty will always stumble" 🤣🤣🤣not the best analogy but it's the way it makes sense in my head. I'm still gonna WATCH & WAIT, Due to it being year end a lot will happen and affect the whole years trading. How it effects me, is that I try keep busy with other things and this leads to very poor trading decisions as I will only be aiming to close on profit but overly exposed. So this more than ever is time to start the review of the year and just how important it is to stick to my rules.
GJPart 2
April, June, September and Currently. The current price bounced at these levels 3 times, so we can predict behaviour by previous data. But because it is towards the year end and how GJ behaves, we don't enter WE WAIT AND WATCH.
GJPART1
Price is still following the double bottom it formed back in 2020. So now we have the trend which is bullish. Yet it should not be seen as a basis because it will obstruct and hurt your trading account. TRADE WHAT YOU SEE NOW WHAT YOU FEEL.
Kill emotions, Burn expectations, Switch on your skills and Enhance your screen and eyes.
💴💹💷
My outlook on GBPJPYPrice was in a consolidation, with some large fakeouts. Looking to go short after break of that minor zone, targeting that major resistance zone.
🔔 EURO IS FALLING ⚠️After breaking the support level of 1.0300, the price is retesting the level and correcting the bearish impulse at 0.382.
Rejection from the level is a good sign that the area will turn into resistance.
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GJ bullish on Opening. Continue uptrendAnother pullback for GJ.
My prediction is that GJ is gonna open bullish today Sunday, and the current uptrend will resume shortly.
If it already opens too high close to brakeout, refrain from buying it because the risk/reward isn't worth it.
Even if it breaks the "tight" stop loss, it's still an uptrend. That would mean that my entry was bad, but the direction is still right. The original SL at 164.40 is safer.
GBPJPY 21/11/2022Price currently retested a major support at 166.101. after which it faced some price rejection & went up to make some pullback. Now price also has some resistance at 166.668. so if price continues to respect the resistance & closes below the previous low or support, then price might continue pushing down towards next supports at 165.728 or 165.134.
GBPJPY 18/11/2022Price after a retest on a HTF key zone at 166.873, starting to face some price rejection while facing resistance at 166.873 & support at 166.291. so if price closes below the support, then we can expect price to continue pushing down towards the next key zone at 165.730 or 165.156.
Similarly if price closes above the resistance then we can expect price to continue pushing up towards next key level at 167.383.
GJWe are out, we need to sit back watch and wait. We were not too fascinated by the market movement but good thing we had exit points so earlier trades closed in profit others closed in loss. So the trade off was fair.
GBPJPY daily analysisGJ has formed a head and shoulders on the daily chart. We have been moving in a range for this week and formed a flag pattern on the smaller time frames. The current candle is above the 50ema, which should act as a resistance. If the daily candle closes bearish today, under the 50ema, we should see a continuation of the head and shoulders for a sell.
Check charts for TP and possible reversals
GBPJPY 4hr analysisAs we can see, GJ is trading in a flag pattern in a down trend from the head and shoulders forming on the daily. We are however not able to break the resistance zone of 166. Which also correlates with the strong resistance of the 200ema, so we are still in a safe sell zone, the safest trade would be when price breaks below the flag pattern, retests is and confirms a sell entry, to make sure that the pattern has broken. Look for these entries on the smaller time frames.
GJ Update: Drop After Retesting The Resistance As you see in the 4H time frame, price is in a downtrend and currently it is retracing the previous bearish move.
There is a resistance zone between 166.800 - 167.400 which has been hold the price for a while.
Moreover, we can see the weakness on the bullish candles and log upper shadows which indicate the bulls are getting rejected and there is more bearish push.
We might see more upside push around the resistance zone, but I expect a drop on GJ towards the green level which is the last low at 163.700 and in the case of an downside breakout on this level, we might see more fall but I will update the analysis then.
What is your opinion about GJ? Feel free to share your ideas in the comments.
GBPJPY Weekly Analysis 14/11/2022 to 18/11/2022The price seemingly making another swing low in between the HTF uptrend channel while facing strong support at 163.182 & HTF resistance at 166.256. now if price is to continue pushing down it shouldn't breakout of the HTF resistance. so if price breaks the support while respecting the resistance, then price might continue to push down to the next support zone at 160.946 or 159.749 and also make a retest on the HTF uptrend channel with a deep retracement move. However if price closes above the resistance, then short opportunity on HTF would be invalid.
