Gj
GBP/JPY - Potential ShortGJ has continued to climb but is also showing signs of being squeezed & slowing down. Daily TF is still bearish and i am expecting further down side at the moment
GBPJPY Short I like GJ for a short, basing it on a 618 reaction on the daily fib, marked 8 tps its about 500 pip trade. Trying to get back into my markups and perfecting technicals so comment or critique. Thanks.
gbpjpy 500 pips+this is my 3rd sell entry now 153 sl on all of them looking like this is the drop coming now
started sellin on the 0.70 fib friday swing trade
safe entry after that trend line break and re tests
GBP/JPY, ready to dump!As we can see from the illustration, the overall market direction is bearish. The price attempted a fake breakout to the upside to catch retail Stop Losses, and it is now getting ready to drop. We will be opening Sell positions and aiming for the target shown on the chart
gbpjpy shortnice touch of the 50 day ema adding more sells
0.78 fib level
stop above 153
first tp 147
eurbgp looks good to buy not taking it myself
gbp/jpy short idealooks like the minor trend line is breaking
at a good level on the fib retracement
this could be a good level to start selling
gbp index looks very bearish
GBPJPY Quick Long Then ShortIf you like this idea, like and follow for more.
I believe GJ will drop down 10-20 pips into that upper grey zone, bounce up and reject off of 152.100 before dumping. I reckon it will dump down to the bottom trendline/bottom supply and demand zone. If we see signs of it heading further down, then this may indicate that GJ is continuing a longer term downtrend.
For now, i think it may follow the turquoise arrows.
Updates to follow, follow me to see them.
GJ - Exit StratGJ continuing on up past TP2.
Black Entry hit TP1
Yellow Entry was closed in profit due to my Adjusted SL to make the trip Risk free.
Jumped the gun a bit quickly as I believe GJ could potentially ride higher past Blue Entries TP3 close to .973 area.
Hypothetical TP4 if you want to continue to adjust your SL and ride this up.
Otherwise sticking to TP.
SHORT GJ GbpjpyLooking at current price i see price continuing to the downside during the upcoming London session. Waiting for a retest of the trendline and confirmation on the 1H before executing this sell trade. My first take profit target will be 150.950 respectively.
GbpJpy potential SELLI have a potential sell here on GJ.
Price is retesting this previous support.
I'm waiting for a 15m confirmation to get in.
tp1 1:5 R/R
tp2 1:7 R/R
journaling/learning purposes
GBPJPY - SHORT POSITION (8HR)CONFLUENCES:
- Bearish market structure
- Rejection of 8Hr EMA
- Rejection from 78% Fib
- Bullish structure in JXY
- Fib extension lines up nicely with 150 level
- Spinning top candle close in 4hr
GBP/JPY LONG TERMGJ Chart pattern has shown a head & shoulder formation, as well as falling into the descending trend going short!
