Gjlong
GBPJPY Demand AreaOverall uptrend for quite a while, though it did just change from shallow to steep in one quick move recently.
Price is slowly making it's way back down to the area it ejected from before, and currently at the 50% fib level. Assuming it does not turn here to go back up, I would expect price to continue it's slow decent into the demand area below around the 167 level before turning back to the positive side.
I would think there are a lot of sellers waiting above the double top, so target that area for a likely positive outcome and then see where price reacts from there. The demand level looks strong enough to bring price right back up, but it may take a bit more interest at the upper levels to break through the resistance level, so not going big on target for these doubts, but things could change along the way.
Should price turn here, I would expect it to continue trend, but with end of the day coming soon, I think the slow decent is more likely to happen, because we may come back up, but volume will start going down, bringing price to a near halt. Then on the open of the day it can freely nudge back down into the limit order and all the other waiting buy orders I would expect should be there waiting with me.
Entry at 166.964, Risk is 73.5 pips (166.239), target is 492.5 (171.9)
GJ BUYGJ had been ranging and now closed above my Buy Zone on the 30mins.
Upon seeing a close above zone I want to be patient and wait for retracement back to my Buy zone looking for entries @164.05 with stop loss placed at the bottom of the candle that broke struct @163.82 risking 23pips. Aiming for 1:3, R:R.
GBPJPY Long planGJ is broadly ranging and complex?
Mid term direction bias still seems to be forming / TBC with a wedge shape formation
Last week's break below 158.65 was rejected with a bounce Monday morning to current levels of 161.2 after liquidity grab
This plan assumes the bounce takes us back up to the previous target resistance and break of the wedge at 163.8 liquidity zone
A retracement to get us in a better risk/reward long - if this is not provided, then a short plan will follow as the bias is towards ranging price action!
GBPJPY Trading Plan - 26/Mar/2023Hello Traders,
Hope you all are doing good!!
I expect GJ to go Up after finishing the correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
GJwhen you hit 3 trades in a row, it feel like jesse livemore !!
seriously tho middle long trade was based on DiXY strength hence Yen weakness, the last was based on DiXY overbought breather & more imp Sunak’s monday meeting for Ni protocol reforms. worked better than i expected in target & time range. boom boom.
expecting it to top around 166.40/70 for consolidation.
GJ 4hr analysisGJ will keep going up. As you ca, see, price has formed a double bottom on the 4hr chart. Price ranged for a few days, because it was at a resistance. Yesterday we finally broke above that resistance and we are currently testing it as a support. I expect more buys, lets be patient and check the lower time frames for entries
GBPJPY LONG BIAS (SWING IDEA)Hello everyone!
I have updated my GJ chart. I have realised that there was a clear sell missed on the LTF, where the white POI zone is marked.
However, GJ is going to test a crucial Demand zone and i will be looking to Swing trade this once i see LTF confirmations on my chart!
The buy target is very much realistic. As on monthly, GJ hitting 184 is very possible in the next year or two.
Any questions, Ideas, or objections please comment down below or DM me :)
Take care traders!
GBPJPY- Good R/R setup -long from SupportGJ is currently down. BOE raised its interest rates on Thursday by 50 BPS. GBP will get strength in coming week against its low interest rate currency counterpart (JPY). Expecting buying spree from mapped Support area or even from these levels. It will be good RR setup.
Share your thoughts
Regards,
Longs GBPJPY into 170.000At the start of the week, price broke out of our daily level of 167.500 and the 4H resistance level. Price has recently came back into the 4H zone for the retest and in the same time frame price has retested and created a bullish engulfing candlestick to confirm the move to the upside into 170.000. If price is willingly able to break that daily level of 170.000 and close above it we will see the move play out into 171.366 and potentially 172.000