Low swiped out and some easy targets to the upside to aim for now.
Good evening all, markets are open again. This week should tell us more on the GBPJPY buy position we’re in. If the bearish trend is to continue then the high that has just been created will be a lower high. Then we should expect a lower low to be created on the next move down. But my suspicions is that we may see a higher low created and then a possible change in trend bias and break to the upside. Keep an eye out this week for the movement on this pair. Move your stop loss to entry or in some profits just incase we do see a drop back to the downside. Wil update again in a few days. GLIYF
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Good morning all, just a little update today on the GBPJPY buy position we took. We created an equal high to the previous lower high that was made. Now it looks like we could have made a higher low from the low that was made in price. This is where it think is vital for the buy to continue. We could see price start to get squeezed here into a corner. currently we have a nice bullish push on todays candle so if it continues its possible we could see a break above. Let’s keep holding for now, if we break down we can close in profit. If we break above we can continue to hold for more profit. GLIYF
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If it breaks this next high i think were on for a really nice pip grab 
Good evening all couldn’t sleep so thought I would have a look through the charts. Time to update GBPJPY , I have closed my original entry for profits as the swaps were building up. But I have kept my second entry open and I have moved my SL into the line you can see on the chart which is just over 1:1 R:R (140 pips). Price has met the downwards trend line and fell back. BUT I don’t think it could be over just yet there may be a fight to come to break above. currently 280 pips ish in profit so you can secure how ever many pips you want if you followed along with me. We could make a higher low still and make another push to break above. But at least secured two bags of profits so will let this one run. GLIYF
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Nice work on bagging some pips and locking in profits!
Good morning all, back onto GBPJPY today and updating what I did on this pair. As my last post on this pair I said if we break this trend and drop its possible that we could fall back to demand. Well we got just that, I has my SL at the point where you can see on the horizontal line, but after the second bearish daily candle I decided to close my full position for 227 pips. Obviously we had a lot more profit but I was hoping for the break upwards, so good on you if you closed earlier. But what next, well we are currently sitting right at this strong demand zone again so for me its rinse and repeat. If we find support here at this demand zone I will buy again back up, we are also being cornered into the corner with the corresponding trend lines so I still think a break above is on the cards. GLIYF
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Hello all, back onto my favorite pair today GBPJPY . Ive entered a buy again, very similar to the last trade setup. But this time I am going to aim to take profit if price meets the trend line . Or at least close half of the position just incase we get the break above and continue. We were watching this demand zone and its virtually the same setup as the last trade so should of been easy to take. GLIYF
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Good evening all, update on the GBPJPY buy trade that was taken. Again we find ourselves in a similar position to the last buy we bought from the demand zone below. Currently 250+ pips in profit on this setup. But we find price now meeting the down trend line . Price is trading above the moving average, albeit sideways so that isn’t as big of a consideration. I would like to see price break and re test above as normal for a continuation. I would suggest locking in at least 150 pips profit where I have the ray line drawn out, just incase we see price drop back again. I do have a feeling we might see price visit the bottom side of the big ascending channel we are trading in from the bottom. Hold for now and secure the bag. GLIYF
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The resistance level too strong to be broken. However, if it gets broken, the buyers may push the price towards the last swing high. On the other hand, if the price gets rejected at the down trending trend line’s resistance (more likely), it may get choppy before making a breakout at the triangle.
Great analysis man, keen to see where this moves on Monday open.
I think we’ll see a rejection and a continuation of the shorter down trend - pretty annoyed that I didn’t clock your breakdown on this pair until today, but I’ll be keeping an eye out in future.
Thanks Leebax.
So far daily rejections back resistance suggest a short. I’m waiting on confirmation to enter thank you for your own in-depth analysis
It`s a good idea to lock some profits may be.
That was a lovely set up, wish I had seen this earlier. May look to get in on the retest!
Good morning all, today I am closing my GBPJPY trade. Currently 220 pips in profit on our position. But as you can see price has respected the trend line and it starting to make its move back down again. So I will close full positions for full profits. That’s over a 1:3 R:R ratio so a good return, but what is next? I will be looking to do the same again if price comes back down to the demand area. Or we could wait for the breakout, but since having two successful buys from that demand area I will buy again from there, and hopefully ride the possible breakout to the upside. But for now close your positions if you followed me and wait fir the next trade to come to us. GLIYF
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This is excellent trade management. The down trending trend line seems to be a strong resistance. Thus, the price may consolidate and even make a bearish reversal from here. Thanks for sharing your chart and analysis.
Wise decision looking at that trendline. Can always get back in again if it does break through.
Really solid trade and reasons for getting out too. nice work mate
Good evening all, the markets are open for another week of trading. Hopefully GJ will move into a setup we can take. At the moment its currently at indecision. As you can see from the past week we moved in consolidation under the trend line , price did move above but ended up closing below. Currently sitting above the EMA and looking like we may break above very soon. Looking for a break and re test setup this time on GJ. Either of the trend lone or if we break the supply zone . Ideally id like price to come back to trend and demand for the buy again but will take what comes to us. Mark out the zones and keep an eye out. Ill update again if I enter a trade. Have a good week all GLIYF
Looks to be breaking through now…