Gj Reversal Zones

[sebking1986]

Spike down on Friday upset it a bit but looks good for next bullish impulse here.

 

[pezz55]

i would like it to break the 152.300 level for the sell off if not i will be looking to buy it once we get above the 154.200 level for now i will just watch it play out and wait for it to hit my levels

 

[bigbax699]

Good afternoon all, hard to believe its been a couple of trading weeks since I have updated on GJ. But there hasn't been too much happening. Since the last post it looked to of formed a little demand area, but price respected the down trend and friday we saw price tank right through demand to where it currently sits. But to my delight we are close to the big demand zone that has provided us with lots of pips previously. We also have added confluence with the trend line so look to buy from there also. So this could be a nice buy area for us to get a nice trade in. Look for support to form in price over the next couple of days then we could get a nice buy back up to supply. GLIYF

 

[sebking1986]

I can see it coming back up the zone it broke and dropping lower.

 

[Treacle]

GJ can't make it's mind up. Dojis everywhere

 

[bigbax699]

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

 

[sebking1986]

I think it could look to take out these relative equal lows. Certainly is looking bearish as you say.

 

[Treacle]

Bearish yes but a bit of room back up to the down trendline, maybe move SL if it reaches it....

 

[bigbax699]

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

 

[Treacle]

Nice feeling to get that SL into profit