Gj Reversal Zones

[TareqS]

It looks to be a very good setup to go short in the pair. The price produced a Double Top. That down trending trend line has been a key factor as well. Thus, the Bear may dominate here for a while.

 

[momo3HC]

Trying to break thru the resistance but let’s see how successful will be.

 

[bigbax699]

Good morning all. Checking over the charts today and I am looking at another possible sell on GBPJPY . The last sell we took hit my SL at 1:1 R:R. We sold from the supply zone and price quickly moved into profit. We did peak at over 1:4 R:R so depending where you had your stop loss we all made on that one. since then we have had some bullish movement last week, but more importantly we saw price visit this current supply zone and reject. Giving us a good entry indication going into next week for a possible easy sell with a tight stop loss at this zone here. Good potential R:R on offer here GLIYF

 

[ForexTus]

I like the buy option once it comes down that seems like a solid area for support

 

[TareqS]

The price had a rejection at your marked level earlier. A bearish reversal pattern at the level may attract the sellers to go short in the pair. The level of 155.800 may hold the price as a level of support.

 

[bigbax699]

Good morning all, Update today on the GBPJPY Trade idea I sent out a few days ago. Since market kicked in this week JPY has been sold off and we have also seen some GBP strength come into the market. Which as you can see has given us a big push up on this pair. I did open a trade at market open but closed it once I saw the bullish movement come into play. Really I was a little impatient as this setup looks a lot more uniform to take. DEPENDING on wether this supply zone holds or not, if we break above then the sell is invalid and the bullish trend should continue. We have the classical double top formation looking to set up. Looks like a juicy position forming so we need to keep watch over the next couple of days to see if we break the supply zone or not. If we don't then get ready on the sell. Standard type of setup to take so should be easy for you all. Will update again in a few days. GLIYF

 

[sebking1986]

See how the daily candle closes but I can see this high being broken as it stands personally.

 

[sebking1986]

Ah man looks like it stopped you out by a handful of pips. Your trades are high risk reward so it's one of those things but sucks when it's by so little.

 

[bigbax699]

Good morning all. Quick update today as per sending out the possible sell setup on GJ a few days ago. We saw price push deep into the supply zone , but most importantly it didn't close above. Then yesterday we got just the candle we were looking for, a nice <50% candle to give us a signal to sell. As always that is why we wait for resistance to form before we enter. Trade opened on daily candle open today, currently in small profits, looking for a similar move from what we saw previously to the left. Volume is showing to be on our side with todays and yesterdays bearish candles more than the bullish move which pushed price up. Will update again next week. GLIYF

 

[TareqS]

Your marked resistance zone has a very good potential to drive the price towards the downside. It has already produced a Spinning Top. The sellers may look for short opportunties from here. Thanks for sharing the chart.