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Poundyen

GBP/JPY long from demand zoneHere we have a demand zone on the Pound/Yen daily chart. I'm really liking this zone and think it will hold true. COT Data suggests that the GBP could be turning soon and that also is taken into account for this trade. Commercial traders have increased their net long to over 60,000 on the, taking profits as the Pound has been taking a beating, while large speculators are net short about 50,000 and have actually been increasing their shorts along the way. Large speculators are wrong about the markets almost all the time and tend to add to short positions as price continues to fall. Using knowledge of how commercials traders are positioned gives great insight for predicting possible future movement. Furthermore, doing the opposite of Small Speculators can prove to be valuable as they also tend to be wrong a majority of the time. Join me in SmartMoney Trading Center, a FX focusing trading group... we have many knowledgeable traders and are always appreciative of increasing our following, while getting the added benefit of more ideas/opinions/brainpower: discord.gg Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Results may be based on simulated or hypothetical performance results that have certain inherent limitations. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown. NEVER take a trade based on what you see in this presentation. I will not be held responsible for any losses that occur in your account. You and you alone are responsible for deciding if you are comfortable accepting the risk involved in forex trading.
Long
by ajpura
2
GBP/JPYJust want to point out that GJ is approaching the 200 MA on the daily and the 4 hr. Watch the price action on those, should at least get a sell scalp off it. Look to retest level, might get a very nice sell if you let some ride (managed properly of course). It is possible considering all this pair has done is w-x-y'd for like... ever... Obviously it is long right now, but price action is choppy. 200 MA confluence daily-4hr. All I can say to look for at this point is a small sell (off daily 200). Market is just getting kicked off. Hopefully I will have time to post some more specific trades midweek off price action, but I may not have proper analysis time until next week.
by thillygoosth
GBPJPY Creeping Towards My Take Profit Then What?As predicted, GBPJPY is slowly creeping towards my Take Profit which is at the previous high level 148.000. When price reaches this level, I will bank the remaining portion of my position and look for signs of supply for a short setup. This setup will take place in the form of a bearish structure formation and I will enter the short upon confirmation of the break. Contact me via direct message for any assistance required Best regards Linton
Short
by Linton_White
3
GBPJPY long term ShortConfirmation for the short has occured from a bearish rising wedge in pund yen. This chart pattern symbolizes a continuation to the downside , which has been confirmed by a break of the bottom support and a retest of the new resistance. This pattern could still exhaust after the price pushed down a bit more, so look on the smaller timeframes to find a good entry point. currently on the 2hr chart price is in a wedge patten and looks like it may break upper resistance and make a shot term buy for lower timeframe traders. Keep an eye on the 150 area to make a re-entry on the long term sell and set stops 10 pips above the next highest resistance level.
Short
by BretRamkey
GBP/JPY Short- Meltdown into 140.00sBased on Weekly Price action for GBP/JPY we can see that This pair has broken a weekly Major Trendline and Retested the Area with some Choppy Consolidation and Rejection. A 61.8% rejection is also in line with Key weekly levels that also supports the idea that the -27% extension passed 140.00s will be reached. A quick glance over at the BXY will also show some Pound Weakness as well as the Pound Drifts further and further down to key monthly Levels. I will be swing Trading this Trade hopefully down into the 140.00 with Possible Scale in Oppurtunities along the way. #pound #britishpound #gbpjpy
Short
by ScholarGC
4
GBP / JPY - Broke bearish wedge - SHORT I hate trading this bear when the Pound is so weak, but I shorted this pair at the top of the wedge @145.2 and we're now retesting the edge of the wedge again, we're consistently breaking lower lows, but it takes time to get there, takes ages to rise and then drops each time, just like this! 142 is the target, but with eyes on 140, this pair is hard-work, so unless you want to feel the highs and lows of this trade, don't trade it and certainly don't watch it. I'm hoping to be out of it by 3pm Friday. Review my long term view below.
Short
by CBMotivation
13