Sellzone
GBPUSD Getting ready for a dropBased on the chart, price reached a major resistance are and yesterday a rejection happened at this point which can show are the strength of sellers at this area. Based on this rejection of price at this area and observing the weakness of buyers at this time, I prefer to be seller at this price with a good risk/reward ratio (1:3) which can provide low level of risk and high gain.
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
GBPUSD-Weekly Market Analysis-Apr21,Wk3GBPUSD is the exact opposite situation compare to EURUSD. GBPUSD Daily Chart is on a Bullish trend whereas the 1-hourly and 4hourly is on a bearish trend. Check out the EURUSD post if you like to understand why the market move in such a manner.
My plan for GBPUSD is to wait for a retracement back to 1.3768 but not breaking and closing above it.
USDJPY-Weekly Market Analysis-Apr21,Wk3If you have been reading my analysis, you might be thinking USDJPY will be alike to EURUSD or GBPUSD. Well, not this time. USDJPY is in a unique situation where the daily chart is on a bullish trend, 4-hourly chart a weaker bull(which I will not take action) and 1-hourly a bearish trend. Knowing how to identify the trend helps a trader to determine if they are trading with the trend or against the trend. This information help traders to plan their stop and target better.
I'm waiting to short USDJPY at 109.87 as long as the trade didn't break and close above 109.95.