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Gjlong

GBPJPY, possible outcomes?A quick outlook on GBPJPY . Potential opportunities. GBPJPY is currently trading at around 191.000 . We are looking at two possible outcomes on this pair. We are still in a downtrend on HTF (Higher Time Frames ). However if we start breaking above 191.500 we could see a reverse happening on the pair. Scenario 1: SELLS at the break of 190.400 . We broke 190.400. That would confirm sells and we could continue the downtrend and target previous lows sitting at around 188.000 flat. Scenario 2: BUYS at the break of 191.500 . We broke above 191.500 confirming the bullish flag we had on H1 and we could start reversing on GBPJPY . We would be targeting higher levels sitting at 192.500 and higher at 193.300 . Personal opition: The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at the break of 190.400. On the other hand a safe buy trade could be taken at the break of 191.500. We are more on the buy side at the time of writing this. Be patient and stay tuned for updates on this pair. KEY NOTES - GBPJPY is in a downtrend on HTF however it’s showing signs of a possible reverse. - Breaks above 191.500 would confirm buys. - Breaks below 190.400 would confirm the trend continuation and further sells. Happy trading! FxPocket
by FxPocket
Trades are like buses... Miss one? Catch the next! GBPJPY longGreetings fellow traders! Bullish Purge and Revert in progress in GBPJPY . The purging 1h candle's high is broken and we have the confirmation . Long till 197.630 . Adding to it, the market is in discount of the dealing range and as I've already pointed out, I'm bullish on JPY pairs. I expect the market to move to higher targets at 197.900 and 198.435 . Still, the lowest hanging fruit at 197.630 is our objective. Enjoy the weekends... Take rest and replenish your mental strength for the next week . Disclaimer- All content is for educational purposes only and not trading advice.
Long
by SatyajeetSahai
GBPJPY Analysis (10th April 2024) Market Analysis PT1/2 (9th April 2024) GBPJPY Analysis On the daily timeframe, Price action has created a daily fair Value Gap. Since the over trend is bullish after creating a bullish Change of Character and a BOS to the upside, I am primarily looking for Longs. What i want to see price action do is to come into the daily Bullish Fair Value Gap and reject off it, creating a 15 minute/1 hour bullish Change of Character. This will tell me that price action is still bullish and we can continue looking for longs in alignment with the daily timeframe price action. Ideally price should come and tap into the 1 hour Bullish Orderblock where we can look for potential longs as an added confluence. Remember to Risk less when trading this Tomorrow as there is CPI and FOMC Minutes coming up so there will be increased volatility in the markets.
Long
by CallistoFX
GBPJPY Analysis (5th April 2024) GBPJPY Analysis On the 4 hour timeframe, price has created a Bullish Change of Character after testing the daily bullish Golden Fib level. This tells us that price action is actually bullish. However, overnight price action created a huge pullback which coincides with a 4 hour bullish breaker block. On the 1 hour timeframe, We can identify a 1 hour orderblock that created the bullish move we had earlier on the week and it has yet to be tested. Ideally what i want to see price do is come and test the 1 hour Bullish orderblock before creating a 15 minute change of character for me to look for potential buys on this pair, targets we will be aiming at will be the relative equal highs at 192.227.
Long
by CallistoFX
GJ BuysGj had been consolidating a while and now broke above zone (190.900) and closed on the 1H. This happened at 10..00 am UK time. Upon seeing this I waited for retracement to zone, where I entered 190.900 with sl@190.57(risking 33 pips). TP1: 191.500 TP2: 191.800 * Where has the market moved since I entered my trade? Slight Profit * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Optimistic, taken outside mu usual time lot * What do I like about this trade ? Good entry, solid confirm on both 1h & 4h * What do I dis-like about this trade now? Nothing * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ? No
Long
by mrachaw
GJ SellGj closed below zone on the 30mins where I expected a rtracement to 189.05 and wanted to see additional confirmation that it will push down like a BOS on the smaller timeframe. Upon seeing the close below zone and retracement back to zone I zoomed into the 5mins chart to see if I could get a Break of Structure to the downside as additional confirmation this will carry on going down. This confirmed at 2.45pm uk time. I then entered sells @189.00 with sl@189.33 (risking 33pips). TP1: 188.33. TP2: 188.05 * Where has the market moved since I entered my trade? PROFITS * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Confident * What do I like about this trade ? Multiple confluences and good entry * What do I dis-like about this trade now? taking its time * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ?No
Long
by mrachaw
1
GJ BUYSGJ Had been bearish for a while and had now tapped into main demand zone where I was expecting a reversal but needed a confirmation. Price broke above structure confirming buy bias on 30m and 1h and now looked like it was heading down for retest & retracement. Upon seeing I was looking for entries @188.200-188.300 with a sl@187.900 (risking 35pipsmax). I also set a buy limit @188.25. Aiming for 1:3; R:R. TP1: 188.75 TP2: 189.00 TP3: 189.47 * Where has the market moved since I entered my trade? Slight profits * If I looked at the market now, would I take the same trade? yes * How do I feel about my trade? Optimistic * What do I like about this trade ? Precise entry * What do I dis-like about this trade now? taking its time, reversal trades tend to do this * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ? no
Long
by mrachaw
GJ BUYGJ Head dropped a good +200 pips and now tapped into a main daily demand zone at 188.35 where I was looking for reversal formation. Reversal formation was formed at 9.30 once 30mins candle broke below Doji but then closed as a Bullish engulfing. Price also Broke structure to the upside . Upon seeing I set a Buy limit order @188.500 and was waiting for Pre-Ny or NY for this. Stop loss @ 188.200 (risking 30pips). TP1: 189.00. TP2:189.35 TP3: 189.85 * Where has the market moved since I entered my trade? at entry * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Optimistic * What do I like about this trade ? Precise entry * What do I dis-like about this trade now? Abit Stagnate * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ? no
Long
by mrachaw
GJ SellsGJ had approached a key supply zone and closed on a massive rejection bearish engulfing candle @190.600 zone. I waited for retracment to the 190.500 zone and to also see Break of structure to the downside on the smaller timeframes(5mins) which I saw around 9.30 GBP session (UK time). Upon seeing this entered Sells @190.500 with sl@190.77 (Risking 27 pips). TP1: 190.05 TP2:189.85 TP3: 189.55 TP4: 189.05. TP5: 188.500 * Where has the market moved since I entered my trade? Near Entry * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Optimistic * What do I like about this trade ? Multiple confluences * What do I dis-like about this trade now? Choppy taking time for this to move * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ? No
Long
by mrachaw
GBP/JPY BUYGJ closed above zone on the 1H and now retraced. Upon retracement was looking to enter buys around 191.10 zone which was further confirmed with an internal BOS on 1min. Once I saw this added confluence entered Buys @191.100 with sl@ 190.87 (Risking 23pips). Aiming for a 1:3 R:R. TP1: 191.75 TP2: 191.97 TP3: 192. 25 * Where has the market moved since I entered my trade? NEAR ENTRY * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Optimistic * What do I like about this trade ? patiently waited for entry * What do I dis-like about this trade now? Choppy * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ? No
Long
by mrachaw
GBP BUYGJ was had been ranging and now broken above zone and waited for 8.30 candle close above zone (186.57). Upon seeing close of candle at 8.30am UK time I entered @ 186.600 with sl@ 186.35(25pips) . TP1: 187.00 TP2: 187.300 * Where has the market moved since I entered my trade? near entry still * If I looked at the market now, would I take the same trade? Yes * How do I feel about my trade? Confident * What do I like about this trade ?lines up with my classic typical trade * What do I dis-like about this trade now? choppy * On a scale of 1 to 10, where would I rate this Trade now? 7/10 * If I were not in a trade now, would I take the opposite trade ? No
Long
by mrachaw