SL was hit on GJ but thats perfectly ok as thats why we practice risk management. I wont be entering again until i see a break above the resistance level of 136.00, then ill buy on the retest of that break above. Most other pairs have been quite quiet this week not much movement, GJ being the biggest mover that i watch. Looks like its respecting the trend line and creating a higher low so my bias is still bullish overall, the retracement was just deeper than expected. You could potentially buy from here and get a small stop loss but ill wait for some more momentum for anyone that follows. End of the week so no need to enter today anyway lets see if price is still following trend next week. Have a good weekend all
Im still bullish on GBPJPY . Ive hit stop loss twice on this pair in recent times. but again that’s ok because that is why we practice risk management. Ive got two trades ive lined up here. Obviously today is risky to enter because its friday and means holding over the weekend. So ive entered a smaller position to hold for the swing. The next position i will enter fully when we break back above the resistance of 135.79 and test that level with the Fib. That will be my 2nd trade. Were still in a bullish structure with higher highs and higher lows so i still believe in our old friend. Have a good weekend everyone. GLIYF (YNWA 
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Hope everyone had a good week. Time for weekend reflection and check in on some setups. Back at GBPJPY price came very close to the stop loss area i had marked out. Trend is still holding which is a nice sign. hopefully we will see some bullish movement from this pair again soon. Im waiting for the second position entry for buys but if you went on the first one i would keep holding for now. if we break back above the .382 fib and hold then i will be buying and looking to make the new highs for a bull push. Once the uk economy and the virus slows down thats when we should see a strong push. GLIYF
Todays update is GBPJPY . If you entered on the first riskier position i posted initially then youre being rewarded currently 270 pips in profit. The second position isnt far away from entry. I would like price to break above this level first then get a little pullback to test before the entry and next push. if your already in move stop loss into profit and keep riding the wave. GLIYF
Looking back at our old friend GBPJPY today, and i am liking the possible setup coming. This is a nice textbook Buy for me, we got the break above the Averages, hit resistance level as expected, now we have price retracing to test the broken previous resistance which should now turn as a support level and with the added averages and trend we have a multiple confluence entry. The bear candles have no real intentions so when you see a rejection of this area get in on the buy for a nice 1:5 R:R trade to get above the resistance zone above. GLIYF
Nice but I think you have to make it more readable less confusing, i.e. remove unnecessary lines because it’s hard to understand your point. Otherwise looks great.
Ive been on holiday for a couple of weeks but nice to come back to see GJ hit full TP projection.
If you entered on the first position back as the support circle then you have been rewarded with 500 pips, if you waited for the break above and got in on the restest for the stacked position then you have been rewarded with 350 pips. But whats next?
Im still bullish on this pair for the moment although we need to make a new high, id like to see a pullback in price here and use the small support level below for another push north, similar to what we had just taken. Nice R:R on offer, new week starts today lets have a good one folks
New week starts folks, its the first time ive seen a stagnant market in august, which is supposed to be slow for the summer. No major moves going on from what i can see. On GBPJPY im going against the grain, as i like to trade opportunities. So i will be selling in this uptrend, i can get a small stop loss so can use small risk for a nice return. Price just peaked over the previous high so i think we will see a drop here from supply to create the higher low and pick up support form the moving averages for the next bigger push north. Just a punt from me today on this one. Have a good week everyone GLIYF
Morning everyone new Monday week starts and were looking back at GBPJPY for an update. The small intraday short i called is over 100 pips in profit now. I would either take profit here or move SL to entry and close half your position and let the rest run. Price came down to the little support level from the previous week and has stalled there so far. Weve seen support from the EMA’s so not a bad decision to lock in the pips. Im still looking for buys so i would either like to see it come down to my lower entry price or break above the high and retest that area. Have a good week all GLIYF
Its FRIDAYYYYY e d of the week folks hope you all had a good one. Finishing the week on GJ, that small intraday sell got us between 70-100 pips depending where you entered. i did say take profit and make risk free as was overall bullish . Price has come back and pushed to make a new higher high in the trend. Looks strong still GJ for the bull to me. Heres a couple of longs ill be interested in taking. IT could decide to use the recent level as support and quicky turn over on the retest. Or we could see a deeper retracement to the channel edge. Either way look for support forming and enter the longs. have a good weekend all GLIYF
So on friday the report on GJ was a strong bull. I gave out two buy opportunities. Im hoping some of you jumped on that opportunity, as today i can report it was a quick turn around once that new high was made. It tested that level on friday and continued on.
If you entered lower on friday then your a couple of hundred pips up. If you waited until yesterday then your still 150 pips up. Make your trades risk free, looking to make the top of the channel touch for TP. Easy jump on the trend this one was. GLIYF
Range trading continues in GBP/JPY and intraday bias remains neutral. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.
Well we’ve seen GBP fall the past few days due to some news release regarding brexit and someone leaving office. But if we look at the overall picture the structure still looks bullish to me. Dont forget the average price for GJ is still very low. I wanted price to come back down in a big retracement so we can buy lower. This is my ideal setup here. buying from support and on trend. If price manages to hold here for a couple of days then i will be taking this buy from here, aiming for the previous high for a nice return of 500 pips. Remember always wait to enter dont try to catch a falling knife. GLIYF
Reporting today a SL hit on GBPJPY . I was leaning on it holding around 136.13 zone and possibly making a U turn. But yesterday we saw most JPY pairs drop hard. Doesnt matter though we cant win them all and only 2% lost, another reason why we use risk management. But what next? Well its still possible for price to make a higher low and then turn around. But for now we are bearish until that happens. It just means we can buy at a lower price and gain more pips on the next trade. ive marked out a couple of zones of interest where price could find support. Wait with patience for the bull to return. GLIYF
Back onto our friend today to end the week. GBPJPY ahs been a bloodbath the last couple of weeks. The goal posts have been moved and to be honest now i think we have a much cleaner parallel channel . Price looks to of found support on the 50% fib. But im not entering just yet, i will be waiting for it to break above the .382 fib zone and buy on the retest. Very similar price action to what i have marked out previously. Aiming for below previous high, which is still a modest 300+ pips 1:3.4 R:R. i would rather wait for that trade than enter now after all the recent bearish action. Patience pays, have a good weekend all GLIYF
The marked out zone i had for GJ was almost a hit. Looks like a text book setup for me. Broke above the resistance and looks to be now testing the broken level. Only thing to be weary of is friday tomorrow and NFP. I might enter with a small parcel today just so it doesnt run away from me. Although its best to wait until next week with a couple of consolidation candles before the next push. As i say careful with NFP tomorrow. GLIYF
always keep things simple, why overcomplicate
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Good morning, new week begins so time to report on our GJ buy. Dont you just love it when price plays out as expected. Pure technicals look great, price broke above the level as marked out previously, we got a couple of daily candles testing the zone and boom off again we go n our desired direction. Currently we are just over 100 pips in profit. You can set SL to break even here, or keep it as is, theres an opportunity that it could test that level again. But overall i can see us hitting TP no problem. GLIYF
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bouncing between the channels
Morning all, new week begins with GBPJPY . Checking up on price its made good movements for us. We have peaked at 187 pips in profit. Today looks to be falling back a little in price naturally and were currently 130 pips in profit. Keep holding this if your in with me. Its possible we could come and test back on this little shelf of support below, but i dont think it will come that low. Nice bottom wick would do us for more continuation. BUT also news out of the UK this week with further lockdowns could see us tank. So if your happy with current profits take them, or close half of the positions and let it run. Have a good week GLIYF
