If you follow my setups and charts then youll will of seen this week i concentrated mostly on GBPJPY . We visited it a couple of times as i was looking at the buy from previous areas we bought from before. i first looked for the buy at 128.2. We got the first part right, and now i will blow my own trumpet as each level and each one of my circles was hit perfectly. Check the previous charts and youll see.
If you bought on the original call then you will be 640 pips up this week. If you waited for the breakout and bought at the support from the first blue circle then you will be up 388 pips this week. Both with good R:R and tight stop losses. Price hit the aim for the top blue circle so good time to take profits. The next trade i will be looking for price to break above the blue circle then come back for support again for another push. Same as previous levels. Not a bad week from one pair at all. Enjoy the rest of your weekend
Good saturday folks. Hope your trading week was profitable. Should of been if you took the GJ profits. Was a good time too as weve moved sideways this week. i think its getting ready for the next push upwards. Price has held strong right on this support shelf, not even wicking below. Two positions available for me, one is at current price but a little riskier as we havent broke above the primary long term uptrend, but offers more R:R. The next positon would be absolute prime entry, break back above the trend, witht he confluence of the retest, the 0.5% fib and 136.000 support level . This would still offer a good amount of pips with a little extra confirmations. GLIYF
Not looked at GJ for a while. Price has came back from the underside of the previous uptrend that was broken. We have dropped a little in price but it seems to have held on the .681 fib level. i think if we break above this short downtrend and above the 50% fib then we could be back in business for a good bull. im currently in a buy personally as i got a fairly tight stop loss. But my ideal time to buy would be to break above one of the two mentioned levels or defo back above the previous strong uptrend before the virus hit us. GLIYF
GJ has been a little hard to read for me recently. Its in an area of either a pullback from the higher TF’s but also giving signs of a bull trend. Now recently we had a small bearish price action but as you can see the .618 Fib has held on multiple occasions. Seems to be a strong area of support. So if it holds then my thoughts are to a bull. But i think we have to wait and see on this one. Wait for the break up or down that will tell is the most pressure to buy or sell. The buy will give us more R:R as theres alot of room to move into. theres alot of traffic to the left going down and naturally GJ belongs in the 140’s+. wait and see for this one. GLIYF and RM as always
Looks like GJ has been ranging for a while now before its next major trend move. Since we last looked it was just under the trend and i was bullish , we got that movement to the top of the range, but since we have moved back down. But will this time be more powerful with the break and retest of the trend and also in conjunciton with the fib level too, will this be the catalyst for a nice push upwards? Lets wait and see, but ill be buying in the yellow circle area with a small stop. GLIYF
Well today im reporting on a stop loss hit. JPY has gained alot of strength recently and we see drops on jpy pairs across the board. Its possible i might of entered too early for my idea of a long trade. I will know what the true direction is over the next couple of days what happens to price round this area. i still think this is a retest and we could see some upwards movement from around this area, i just got in too early. Doesnt matter though as thats what risk management is for. We just move onto the next trade. ill be looking to buy still but i will wait for a confirmation of support first this time. Lesson learnt again. GLIYF and RM as always
Last time i got stopped out on GJ, but were back looking at the next option again. Looks like price is rising slowly into an ascending wedge shape. Id like it to move sideways and maybe gather demand at the support section to the right. Looking for the push up. Then the next major zone im looking at for buys is back above the longer trend on the .382 fib. Thats when i think we will see some more big bull movements. Maybe the UK getting through the pandemic and opening up the economy might give it that push. Look out for it GLIYF
Well in recent times we have seen GJ drop like a stone. i guess in my hopes i was looking for the bull to return, but the bear was too strong from the higher time frames. In these markets i dont sell at the bottoms i look for buying opportunities. So on to next wekk and what i will be looking for. We are approaching the imminent support level , albeit a small one but in conjunction with the .618 fib. Ill be looking for exhaustion in price around this level for a turning point to get in a buy. Or will we see it drop further to the strong demand level with the .786 fib level, or even still a great double bottom on the 124.000 price. time will tell, keep your eyes peeled this week. GLIYF
Sunday and markets open again tomorrow. Im looking at GBPJPY this week mostly. We saw some sell off mid to end of last week, respecting the downtrend bias. Price never reached our set levels last time we looked at it. But were looking again and those two blue zones ive marked out look like good trade opportunities to me.We are currently inbetween s1/s2 pivots , but id like to see a further push lower to the stronger possible reversal zones of S3 with the .618 fib or S4 with the.786 just below it. Watch for price action in those two areas for a nice R:R back up towards the pivot . Lets have a good week everyone GLIYF
Well GBPJPY is giving us the run around recently. i thought we might of seen a drop right back down the the zones i last drew out. But that push to the 50% zone was the reversal point. Weve seen bullish price action since, broker the trend up and started a bull trend. But its possible we could see a drop from the zone above as it seems a strong level. If that is the case i will be waiting to buy from the 0.236 fib level. hopefully we can get a push back above the primary big trend and continue upwards from there. If we do i will be re entering again. Watch for the pullback from the supply zone . RM and GLIYF
We got our pullback in GBPJPY . I got the level correct, i was just a little too far ahead in time Hopefully everyone got in on the easy buy here. Was fairyl easy to take, broke above the resistance and came back to test as support, basic stuff. Now were looking to hold to make new highs back up to that top zone. nice R:R of 1:7 with 400+ pips TP GLIYF
Back onto GBPJPY today and when we last looked i was looking for support before the next push, i thought the 0.382 level of support would of held but we got a much bigger retracement down to the .618 fib where it rejected. We got a lovely doji candle to finish the week last friday on the 50% level. That should of been your signal to enter come market open this week. SL would of been the .618 fib and we came close but the price action on the daily chart came through and we see some bullish momentum. It does look to be lacking though as we have a wick from the upside, but it could get filled so make the trade risk free and ride it out. Were looking for the double top or to make new highs for 1:4 R:R. GLIYF
Hopefully everyone got in on the easy buy here. Was fairyl easy to take, broke above the resistance and came back to test as support, basic stuff. Now were looking to hold to make new highs back up to that top zone. nice R:R of 1:7 with 400+ pips TP GLIYF
