GJFinally played out with our forecast. We waited a couple of days because the market was choppy, either way TRUST YOUR ANALYSIS AND FORECAST.
GPY
GJNot a good week, I think this weekend is meant for a regroup and refinement. Need to leave the markets for a bit and reconfigure my thinking.
GJIt had a double bottom, previously tested level that wasn't broken, engulfing bullish candles, long term bullish structure and it is one of the patterns I trade. Earlier I couldn't explain but this is why I had placed my Longs here and SL just under previous lows. Those that are busy move your SL to just into profit or BE, the market is not your fathers house remember that when trading.
GJYou should not be waking up with a smile but with a clap for the hardwork and skill that you have built thus far. On to the next, bigger and better.
GJI was closed out early, but left it to watch where and what it would do after all I was curious. Good to see patience still works and we need to keep refining
💡Don't miss the great sell opportunity in GBPJPYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (150.58).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 19.
Take Profits:
TP1= @ 150.18
TP2= @ 149.55
TP3= @ 149.19
TP4= @ 148.61
TP5= @ 147.89
SL: Break Above R2
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GBP/JPY - Small time-frame analysis😋 Buy ZoneTechnical Overview: - GBP/JPY
Buy Zone: Marked Below
4h CL: 150.692 - 150.486
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
💡 Don't miss the great sell opportunity in GBPJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (138.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 38.
Take Profits:
TP1= @ 137.9
TP2= @ 137.6
TP3= @ 137.15
SL: Break Above R2
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. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
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Strong selling opportunity on the GBPJPYThe pair Break the last bottom at 137.87, and closed below it.
The pair has returned to retest the bottom, and hence an opportunity to sell after breaking 137.45
Selling targets respectively 135 then 133.14
The deal was opened: We Can Sell
GBPJPY:Gartley, Bat or Butterfly w/ video on Rising WedgesAs you can see, lots of potential action here on the GBPJPY following our Rising Wedge from earlier in the week. Yesterday I recorded a video talking about this rising wedge as well as a MUST own trading book, so make sure you head over to my Youtube page and check if you if you haven’t already
“A Trading Book Must Own & Trading Simple Patterns” www.youtube.com
Today I have a handful of advanced patterns on the radar including a bear gartley, bull bat, and a bull butterfly. I’m not too big on butterfly patterns so I’ll be ignoring that one but it’s there.
Aside from that, I just got short the AUDCAD from last night’s Syndicate video which is now featuring another rising wedge pattern inside of our ab=cd/2618 trade and I’ve got my eyes glued to EURUSD, GBPUSD & NZDUSD from some trading opportunities.
Yesterday was a no trade day for me, but hopefully I’ll get some valid signals today and end the week with a bang!
Akil Stokes
Chief Currency Analysis at Trade Empowered
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