Gj Reversal Zones

[JayJones]

following

 

[bigbax699]

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

 

[JayJones]

I am short on this pair.

 

[Deleted member 231512]

I think I'll have to jump in on this trade. GBP weak as mid strength beer at the moment

 

[bigbax699]

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

 

[bigbax699]

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

 

[Colin Lewis]

GJ is back on my watchlist this week so will be following it closely

 

[bigbax699]

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

 

[bigbax699]

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

 

[Colin Lewis]

GJ great for me this week. Caught 80 pips profit