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Structures

1-1 Harmonic MoveHarmonic Move which ends, at that point there is previous support and resistance with a lot of Fibonacci confluence such as the Golden Fib 1.618 also the 1.272 the 1.414 , 1.13 which is a minor fib and finally there is a Fibonacci retracement and the ratio which is in the kill zone is the 88.60 which is another minor fib. There is also previous structure support on the Daily Chart but it is in the 2000. only enter by going down to the lower time frame such as the 15Min and there is a double bottom Another reason for entry is that they are also two advance patterns which are also completing on this level loo look at next Published Chart
Long
by UmarPandor
GBPJPY Daily So this pair is about as volatile as it can get when trading. I've tried many times to trade this pair when your right it goes great, when your wrong it can escalate very fast! But the speed at which this pair racks up pips is what attracts many to it. So here are my thoughts: We are firstly in that overbought area on the RSI, I Use 80 as the top parameter and even that we have gone above! Looking at structure we have come back up into an area which on the Weekly and Daily has proved difficult to break, long wicks previously and a Dojoi on the Daily is another possible sign of the Bulls loosing Steam. We have a Bearish Cypher Pattern complete which would mean if this pattern is valid a retrace down to 382 and the 618. 618 would see us at a proven previous area of support. So lots of reasons to get short imo, only time will tell. Good Luck
Short
by Wonour