Gpbjpy
GJ, this weekly push will tell us next stop for this pairLong title I know...could not find better words lol.
So the main attention getter for this pair is that nice weekly pinbar and two nice rejections of gap "fillage". To confirm 618 retrace has failed although we made quite a bit of the hopefulness of it as it did bounce from it hard once. But alas, all good things must come to an end as I see this might be the last push before either consolidation or trend reversal. I will make a chart on that once I see it.
All of you that have followed my GJ pairs would have likely doubled or tripled, fuck it quadrupled your accounts by now. I did at least one of those :D lol. I have made over 6,000 pip on this pair alone on just ONE of my positions (0.01 lots short still open with 6,000+ pips in green, most I have ever had in my 1.5 years of trading).
BULLISH FLAG - GBP/JPY Hi Guys.
Here is an idea. it might be a bit late and the price will never go back to this level in this particular setup.
Bullish flag reaches it's target 90% of the time. Target is 145.000 which was a S/R in mid June
First fibo retraced just below 23%, which formed the flag and then started to go up.
Now, I'm expecting to see prices come down to 139.000 which is another 23% retracement and also test the GAP.
Let's wait and see what will happen. I will only open a position if the price reaches 139.000 again.
Give your thoughts about this setup.
Thanks