After a break and retest of the inverse head and shoulders a few weeks ago GBPJPY is looking very bullish with higher highs and lower lows. Right now price actions looks to be pivotal, as a major break out to the upside could lead to a Strong year for GBP.
A favourable deal with Europe in the Brexit negotiations and the fast and efficient roll out of the COVID...
From a daily perspective AUDUSD has been in a in a clear uptrend, displaying higher highs and higher lows which, looks to continue rising, after potentially making a new higher and a further higher high.
What this can means for short to medium term traders is that there could be shorting oppourtunities down to around 0.7650 and 0.7500, a confirmation of this...
AUDUSD HAS BEEN IN A IN A CLEAR UPTREND, DISPLAYING HIGHER HIGHS AND HIGHER LOWS WHICH LOOKS TO CONTINUE RISING AFTER POTENTIALLY MAKING A NEW HIGHER LOW FOLLOWED BY A FURTHER HIGHER HIGH.
WHAT THIS MEANS FOR SHORT TO MEDIUM TERM TRADERS IS THAT THERE COULD BE SHORTING OPPOURTUNITIES DOWN TO AROUND 0.7500, WHICH WILL BE EVIDENT FROM A BREAK OF THE DAILY DOUBLE...
Although there are alot of trading system that work in which people have put countless hour of study into crafting, for me, keeping with the basics has always given me the best results. Over complicated systems are not much for my emotions. Using the daily double top for my directional bias, I've put togther four 2H confluences for this move down on GBPJPY, feel...
Techincal analysis is always my first port of call and as you can see I have highlighted a Invese Head and Shoulder pattern which looks to be forming which essentially is a trend reversal pattern. Fib has also help me uncover support regions in which to trade from for entry and taking profit, this along side support and resistance from top level analysis will also...
On the 11thFebruary I posted a very brief, straight to the point setup on GJ focusing on four main indicators that provided a clear signal bullish momentum, focusing on the basics the article was geared to readers proficient in technical analysis.
The indicators were -
Potential 1:1 Correction
ABCD Fibbonacci
Strong Hammer rejection from the 50% Fib
Third...
Quick list of confluences on why i have a bullish bias on GBPJPY. The strong hammer rejection on the 50% fibbonacci level is a strong indicator for bulls for the upcoming week.
Through chart analysis im expecting last weeks bearish momentum to again drive the EUR/GBP back down to a weekly 38.2% Fib level before then a potential big push up to create new highs. I love a retest of a broken key level.
Its been a extremely volatile period for EUR/GBP, the last few weeks has seen this pair decline sharply, movements like is set to continue amid the uncertain Brexit agreement talks. "This week on Tuesday the UK parliment will decide whether the authoritative UK PM May's Brexit Plan B is valid or not. In the case thr Parliment dont approve it, chances of a hard...
