Agree, i think its a temporary impulse, have NFP this week too so that’ll have an effect too
So let`s see what this week could bring us.
That’s a nice strong Demand zone already given 4 previous trades will we get a 5th one time will tell
Good afternoon all, back on GJ again today as I entered a buy position on yesterdays daily candle close. It formed a nice 50% candle right on my favored demand zone . This is a risky trade as bias is bearish recently on this pair. Also price has broker out of the long standing weekly bullish channel we have been trading in. But I am hoping its a fake breakout and this demand zone will once again provide us with some pips. If not then I will look for the break below for further downwards movement as indicated. Hope you saw the same and followed. GLIYF
Really strong support zone there. I think it could be a nice 3/4R before you that imbalance is filled
No risk no reward as they say…
148.400 is a nice horizontal support imo for a bounce back up
Good morning all, checking back in on GBPJPY today. Last time out I posted i bought from this demand zone . Purely from the fact what has happened to us from the left and previous positions. After placing a buy position we had a bearish day and we tested the demand zone again, dipping even further down past my entry zone, which I had to extend my stop loss. Normally I wouldn’t do this but I am confident with how strong this demand zone is, so wasn’t a problem to do so. Price since has proved to be what i expected and we have seen a bullish response, if todays candle also provides to be bullish we should be well on our way to TP1. We have to beware of price stalling at the trend line . Would like to see price trading back in the channel above to be more confident in the bull. Currently 120+ pips in profit. After todays candle I will move SL into profits to secure some pips. Hope you followed along GLIYF
Did that massive drop earlier take you out?
Do you think EURJPY will also follow a similar path?
It`s not late to go in long yet. It looks even more positive.
Good morning all, update today on GBPJPY . We haven’t had much movement lately. Price looks to of formed a bearish flag right here at the demand zone . I am still holding my long position here due to favoring the strength of the demand zone from previous trades. But they don’t hold forever and I am aware it could possibly break here with this flag. Again with trapping the market into a corner, trade the winning direction, for which I would like to be back bullish . But I will sell if we break through his demand zone , hold and watch for now. GLIYF
The good GBP news has helped you out today
I still think those equal lows will get swiped hard at some point.
Some strong moves and volatility recently. It is going to be an interesting end to the year i think
Good morning all. Hope everybody had a Great Xmas and got lots of presents. I took last week off to refresh the batteries, But today its back to earning the pips. I left some trades going without checking over the holidays so lots to update on.
Today is GBPJPY and as we can see that demand zone we have used time and again has provided us with some festive pips. We got a nice breakout from that flag to the upside and even if you was watching we got a prefect retest of the break for those that hadn’t bought from the demand zone , easy trades to take. Currently 380 pips in profit over 1:5 - R:R. Now is the time to secure profits and let the trade run as supply zone is about to come in play. GLIYF
Good afternoon all, started back this week on GBPJPY so thought I would finish the week with another update as we have had significant movement. As we can see price has penetrated through the supply zone and we are now trading back inside the weekly bullish channel . TP1 zone has been achieved, currently 570+ pips in profit for over 1:7 R:R. This is why I take my chances at the strong demand and supply zones as we can get handsomely rewarded, again and again. Now is the time to secure some more profits under the fresh demand zone , either move SL up or close some of your initial position. Looking for a pullback to the demand and trend line for further continuation. Happy new year all enjoy the pips. GLIYF
A pullback followed by a bullish reversal at the trendline would be a good signal to go long in the pair. The price may head towards the North and make a new higher high as well. Setting Take Profit at the last swing high is a safer option though.
Such a nice trade this one! Great risk to reward there! May join you on the retest for the second leg up
Well well well, GBPJPY has certainly moved well recently. It seems I am updating a lot on this pair recently. But it’s with reason as we have had significant movement to report. Last time out we were looking for a pullback to the trend line and confluence of the demand zone created for another entry, but as we can see price had other idea’s. We have had a huge push with GBP past couple of weeks. Currently we are 725 pips in profit for a return of 1:10 almost. Tp2 is not too far away, but I think we may get a pullback from here, just look at the Macd below. The strength of the last move to the left compared to this current move, 3 bearish candles along the way, whereas last time there was not one in sight. Remember to secure the bag, move your SL up into profits, I have secured 400 pips (yellow line). Let’s see how this play’s out for the rest of the week. GLIYF