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Gbpjpysetup

GBPJPY, 4hr tf, sell on 61.8 fibonacci retracementHello my friends, Today is November 3rd and it means USA presidential election. Please trade safely and play it carefully as we could see high volatility in the forex market during this time. For today, i already closed all my positions and booked profit. I am gonna review my closed positions first before starting with today trade idea 1st trade is EURCAD pairs which i closed at 1.5390 for +160 pips, banking +6.4% profit 2nd trade is NZDCHF pairs which i closed at 0.6110 for +55 pips, banking 4.4% profit 3rd trade is NZDJPY pairs which i closed at 69.90 for +90 pips, banking +4% profit For today, i only gonna trade lightly with GBPJPY pairs. Based on the daily timeframe you could see we are now at horizontal resistance level, which also happen to be 61.8% fibonacci retracement of recent downward movement. This mean 136.45 is an area of confluences, sellers might come to try defending it Sell GBPJPY 136.45 Stop loss 137.15 Take profit 133.35 RR ratio 1 : 4.4 (4.4R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPJPY Long Trade SetupGBPJPY has just completed a 5-3 "impulse-corrective" wave cycle. According to the wave principle, once a 5-3 wave sequence is completed, we should expect the price to resume in the direction of the impulse pattern . In GBPJPY's case, the impulse is bullish in wave "a". I will look for the break of the green lines to confirm my bullish thesis and have my stop loss at the red line . The price has the potential to reach the upper boundary of the parallel channel. What's your view on GBPJPY? Let me know in the comment. Thanks, Veejahbee.
Long
by Veejahbee
1
GBPJPY, 4hr tf, SHS pattern breakoutHello my friends, I spotted a very good setup on GBPJPY pairs. Price made a SHS pattern and it just break below the support with a solid candle close. Notce also price smashed through the horizontal level so we could say this 136.40 level gonna be a strong resistance. If we count the measured objective of this SHS pattern, it could go down towards 135.20 level It is offering a 2R ratio so we wil try selling this pair. Sell GBPJPY 136.40 Stop loss 137.00 Take profit 135.20 RR ratio 1 : 2 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPJPY Set To Complete ABC Zigzag PatternGBPJPY has been in a sideways move for the past three weeks. This irregular move usually fits in for a triangle pattern in the Elliot Wave principle. As you can see from the chart, the price made a sharp impulse move from wave (a) low, and since then the price is has been unfolding in a three-wave sequence in wave (A) through (E). The decline in wave (E) of the triangle must not exceed wave (C) low for this count to remains valid. While the price is trading below the red line "wave (E)" low, I will look for a breakout of the green lines to confirm the completion of the triangle pattern and execute a long trade. The anticipating rally in wave c of (b) of the zigzag pattern has the potential to equal the size of wave a. What's your view on GBPJPY? Let me know in the comment. Best of luck on the chart! Veejahbee.
Long
by Veejahbee
4
GBPJPY, daily tf, sell the trend line retest with ichimokuHello my friends, I got another setup coming for you today. Another pair with JPY which is GBPJPY. I am using daily timeframe for this setup so don't expect price to move quickly along with our direction. Noticed that price already break below the ascending trendline with a solid candle close from previous candle. This upwards movement was only a retest of broken trend line in my opinion and we could see price go down again. There is also 61.8% fibonacci retracement resisance around 137.00 area so we could this could serve as a strong resistance. I am going to take a sell position here because there is some confirmations from my screener. 1st confirmation is price below the kumo cloud 2nd confirmation is kumo cloud color is red 3rd confirmation is parbolic SAR now above the price indicating sell pressure Sell GBPJPY 137.00 Stop loss 138.00 Take profit 1 at 135.85 Take profit 2 at 134.50 RR ratio is 1 : 2.5 Use only 1-2% risk Good luck Disclaimer : I sold GBPJPY from 137.00
Short
by HayatoDragonFX
GBPJPY Bulls Are Overstaying Their WelcomeGBPJPY reversed from the resistance zone and broke out the S&R zone and daily ascending trendline impulsively. According to the EW principle, a three-wave correction in opposite direction follows every impulse move. That's what is currently unfolding as a bullish corrective move in wave (b) The correction seems to be unfolding as a zigzag and it's about to complete. Once the correction is completed, the market resumes in the direction of the impulse. The bears have the potential to find a supply around broken S&R that lined up with 61.8 Fib. Look for the break of the parallel channel for short entries. Targets below wave (a) low is plausible in wave (c) of ((b)). What's your opinion on GJ? Let's interact in the comment section. Good luck on the chart! Veejahbee.
Short
by Veejahbee
GBPJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market is respecting downward resistance trend line. Price faced rejection from resistance line and moved down. Price dropped and completed W formation. W > We can see an M formation and expect price to rise up test the neck. D > In its bearish move price respected all demand and supply zones created during its last upward move. After reversal price paused for consolidation at first supply zone, price is now making upward move towards second supply zone which also coincides with our target. As per COT GBP saw closure of Long and addition of major short positions bringing net position to -ve, whereas N-R saw closure of both Long and Short, Commercials saw addition of Long and closure of Short. BXY was weak for the said week but it improved its position last week. JPY had closure of both Long and Short reducing net positions, this made JXY weak for the said week. Whereas JXY slightly recovered its position last week. 4H > Price has broken supply zone and its now making upward move towards our target. Currency Correlation > Price has positive correlation with GBPUSD and negative correlation with EURGBP. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
1
GBPJPY - FULL ANALYSIS BREAKDOWN Welcome traders to a free analysis breakdown. Today I am highlighting possible trade ares on GBPJPY, if you any questions on the pair let me know in the comment section below. Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful . If you liked this free educational please like and follow the channel, there is lots more valuable content right around the corner. Feel free to comment a pair or subject you would like me to cover next. Trade Safe Alpha Trading Group.
by AlphaTrading-Group
2
GBPJPY | MY PERSPECTIVE FOR THE WEEKOver 120pips fetched in my last publication (see link below for reference purposes) as another trading opportunity arises. The British Pound surrendered much of its Thursday gain on Friday to close the week below 141.000. despite this retraction, the possibility of a rally is still paramount as I have found two windows on the chart for buying opportunity. Tendency: Uptrend ( Bullish ) Structure: Trendline | Support & Resistance | Channel Observation: i. Price action has been contained between upward sloping parallel lines characterized by Higher highs and higher lows to make my Bullish bias emphatic. ii. Major Support @ 139.300 - a structure which has been a strong hold for Bullish tendencies since 2016 could open us to a Buy opportunity if price breaks down 140.000level. Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:4 Potential Duration: 3 to 8 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPJPY | MY PERSPECTIVE FOR THE WEEKWith over 500pips in our direction since my last publication on this pair (see link below for reference purposes); the GBP/JPY pair broke out of my Key level @ 139.500 on Thursday only for price to Breakdown this level to make an intraday dip to the 139.35 region on Friday which also coincides with Breakdown of trendline insinuating a temporary Downtrend in the following week(s) for me. Tendency: Temporary Downtrend ( Bearish ) Structure: Trendline | Support & Resistance Observation: i. The line drawn under pivot lows emphasizes the prevailing direction of price. ii. Breakdown of 139.500 level after Selling pressure gained momentum in the last day of the week to close under. iii. A retest/rejection of my Key level in the coming week might be a signal to look for in the coming week. Trading plan: SELLconfirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:4 Potential Duration: 2 to 6 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPJPY POTENTIAL SHORT TRADE SETUPHi Traders, - In the GBPJPY 2H chart above, price is trading within an ascending wedge pattern. - Price made a multi-touch on the upper trendline which is suggesting deceleration of buyers. - I will be watching out for the breakout of the green levels on the chart which will also lead to the break of the ascending trend lines for short entries. - Price has the potential to move lower towards the major ascending trendline on the chart. I'll be watching how this plays out in the days ahead. Kindly support this analysis with your likes and comments. Thanks for reading! Veejahbee.
Short
by Veejahbee
1
SOME PIPS COULD BE GRAB SOONFrom the monthly time frame to the Daily TF, we noted an upside movement and on the 4H we saw that GBPJPY just broke out of a consolidating movement to the upside, followed by a minor consolidation. This is very important to state because it means that from a Top down perspective everything is in confluence and also by the way, according to the last report institutions has being buying the pound. SO it doesn't hurt to say that we might be expecting a move to the upside. SO if and only if the price is going to break the upper trendline then and only then we are gong to long the market with a good risk reward and a good probability to the upside
Long
by Big_Player
GBPJPY, MIGHT SHORT LATER.**ENG** - Price moving very impulsively towards our higher high/possible reversal zone. - We can see that price is reaching overbought levels. - Looking for shorts at the red circle. - Only looking for longs if price breaks this zone impulsively. **PT** - Preço a mover-se impulsivamente em direção ão nosso higher high/possível zona de reversão. - Podemos também averiguar que estamos a atingir níveis de sobrecompra. - Procurar por entradas em short na zona do circulo vermelho. - Apenas procuramos por longs em caso de uma quebra impulsiva desta zona.
by Wevesting