Gj Reversal Zones

[bigbax699]

Looking back at GBPJPY today, the markets have been very strange lately. Lots of volatility in pairs at times. Recently GJ has been slow moving. But our entry position on this pair seems to be a good strong support zone . I think we will still see a nice bull push on this pair soon enough, our TP isnt crazy distance away in terms of structure so ill keep holding for now. to give me more confidence id like to see it create a new higher high on this step. Lets keep watching for now and monitor the coming days price

action. GLIYF

 

[Colin Lewis]

Sorry mate what does gliyf mean?

 

[bigbax699]

Sorry mate what does gliyf mean?

good luck if you follow

 

[bigbax699]

Back to our old friend GJ today. Can confirm SL was hit at entry point. Unless you took profits or moved SL into profits. Now no big deal as thats why we lock in profits and not give them back to the markets. Recently Risk On pairs took a big tumble along with the share markets which we can see here. But they have all hit Daily trends as we can see here in this big channel we are in. It will be very interesting to see over the next few days wether we drop through the long standing trend or not, if we dont i can see it making a double bottom at the support below possibly. Look for support to form on these pairs and get ready for the buy. Will update once its ready. GLIYF

 

[Colin Lewis]

good luck if you follow

Lol cheers

 

[bigbax699]

Last time i looked at GJ there was two buy points i was interested in. The trend line of this big channel or the drop through to a double bottom . If you watched it play out you could see clearly that we got support forming and a reversal candlestick pattern happen right on the channel trend. Perfect buy opportunity to get in, nice easy one to take. Im aiming for the next fib level above for a nice R:R of 1:3 300 pips. But also today is US election so it could shake the markets up big time, especially if the big boys decide to shift money into risk on pairs. So just be careful if you are in this trade. GLIYF

 

[bigbax699]

Good morning, new week begins and looks like Joe Biden is the new US president, plus we have a nice TP hit to start the week off, not bad at all. Last tuesday i bought GJ after the support formed on the trend line , we had some choppy up and down movement since. But today we can report TP has been hit and was a lovely 300 pips profit.
Great start to the week, ill be looking for further bullish movement, a lovely break and retest of the key level above would do the trick for me. GLIYF

 

[bigbax699]

Back on our friend GJ today. After hitting TP in our last buy im again looking for more opportunities. Price is currently testing a little shelf of possible support from those previous two little highs. We could possibly get a buy from here IF support is found and formed, so watch out for that currently. IF it does’nt hold here then ill be looking to buy from the multiple confluence area of the channel trend line and the 0.382 fib level. Wait for support to form and get in on the buys is my go to idea. GLIYF

 

[bigbax699]

Todays update is on our old friend GBPJPY . Was looking for this pair to find some support and it looks like its what we have found. Three daily candles wicked out right on that support shelf. With each daily candle's low higher than the last. Trade entered for myself, just need to see a nice break above that resistance zone for another break and retest for more bullish movement. GLIYF

 

[bigbax699]

Hi all been away but now Looking back on GBPJPY today. Pleased to report we are currently 300 pips or so in profit. Not a bad haul of pips, i think th erecent news of the vaccine release has helped matters along also. I will be holding it into next week. But ill be ready to take profits if we see some bearish price action on the smaller time frames. I suggest you do the same as we are in december now. GLIYF