Gj Reversal Zones

[bigbax699]

Sunday and markets open again tomorrow. Im looking at GBPJPY this week mostly. We saw some sell off mid to end of last week, respecting the downtrend bias. Price never reached our set levels last time we looked at it. But were looking again and those two blue zones ive marked out look like good trade opportunities to me.We are currently inbetween s1/s2 pivots , but id like to see a further push lower to the stronger possible reversal zones of S3 with the .618 fib or S4 with the.786 just below it. Watch for price action in those two areas for a nice R:R back up towards the pivot . Lets have a good week everyone GLIYF

 

[bigbax699]

Well GBPJPY is giving us the run around recently. i thought we might of seen a drop right back down the the zones i last drew out. But that push to the 50% zone was the reversal point. Weve seen bullish price action since, broker the trend up and started a bull trend. But its possible we could see a drop from the zone above as it seems a strong level. If that is the case i will be waiting to buy from the 0.236 fib level. hopefully we can get a push back above the primary big trend and continue upwards from there. If we do i will be re entering again. Watch for the pullback from the supply zone . RM and GLIYF

 

[Enayess]

Good review, although I recently read that many people do not use jpy in their work, because it is too independent asset that is difficult to predict. But sometimes there are situations that just cannot be missed, and this proves that the market can always surprise you and give you the opportunity to make money.

 

[bigbax699]

We got our pullback in GBPJPY . I got the level correct, i was just a little too far ahead in time Hopefully everyone got in on the easy buy here. Was fairyl easy to take, broke above the resistance and came back to test as support, basic stuff. Now were looking to hold to make new highs back up to that top zone. nice R:R of 1:7 with 400+ pips TP GLIYF

 

[bigbax699]

Back onto GBPJPY today and when we last looked i was looking for support before the next push, i thought the 0.382 level of support would of held but we got a much bigger retracement down to the .618 fib where it rejected. We got a lovely doji candle to finish the week last friday on the 50% level. That should of been your signal to enter come market open this week. SL would of been the .618 fib and we came close but the price action on the daily chart came through and we see some bullish momentum. It does look to be lacking though as we have a wick from the upside, but it could get filled so make the trade risk free and ride it out. Were looking for the double top or to make new highs for 1:4 R:R. GLIYF

 

[bigbax699]

SL was hit on GJ but thats perfectly ok as thats why we practice risk management. I wont be entering again until i see a break above the resistance level of 136.00, then ill buy on the retest of that break above. Most other pairs have been quite quiet this week not much movement, GJ being the biggest mover that i watch. Looks like its respecting the trend line and creating a higher low so my bias is still bullish overall, the retracement was just deeper than expected. You could potentially buy from here and get a small stop loss but ill wait for some more momentum for anyone that follows. End of the week so no need to enter today anyway lets see if price is still following trend next week. Have a good weekend all

 

[bigbax699]

Im still bullish on GBPJPY . Ive hit stop loss twice on this pair in recent times. but again that's ok because that is why we practice risk management. Ive got two trades ive lined up here. Obviously today is risky to enter because its friday and means holding over the weekend. So ive entered a smaller position to hold for the swing. The next position i will enter fully when we break back above the resistance of 135.79 and test that level with the Fib. That will be my 2nd trade. Were still in a bullish structure with higher highs and higher lows so i still believe in our old friend. Have a good weekend everyone. GLIYF (YNWA )

 

[carolinamarroquin]

[QUOTE = "bigbax699, publicación: 367349, miembro: 207623"]
El domingo y los mercados abren de nuevo mañana. Estoy mirando GBPJPY esta semana principalmente. Vimos algunas ventas de mediados a finales de la semana pasada, respetando el sesgo de tendencia bajista. El precio nunca alcanzó nuestros niveles establecidos la última vez que lo vimos. Pero estábamos mirando de nuevo y esas dos zonas azules marcadas me parecen buenas oportunidades comerciales. Actualmente estamos entre los pivotes s1 / s2, pero me gustaría ver un empuje más hacia abajo a las zonas de reversión más fuertes posibles de S3 con el .618 fib o S4 con el .786 justo debajo de él. Esté atento a la acción del precio en esas dos áreas para obtener una buena R: R de regreso hacia el pivote. Tengamos una buena semana a todos GLIYFView attachment 53888
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La libra esterlina (GBP) frente al yen japonés (JPY) es un par altamente volátil. JPY a menudo se usa como una moneda de financiación porque históricamente, es una moneda de bajo rendimiento o baja tasa de interés. Dado que el Reino Unido es una de las economías más grandes de Europa, el par GBPJPY puede considerarse como un indicador de la salud económica mundial. Por otro lado, este par actúa como un proxy de los movimientos de mercado "libres de riesgo" cuando se invierten las operaciones de carry. Como resultado, el par GBPJPY es capaz de desarrollar tendencias fuertes que superan los miles de pips.

 

[bigbax699]

Hope everyone had a good week. Time for weekend reflection and check in on some setups. Back at GBPJPY price came very close to the stop loss area i had marked out. Trend is still holding which is a nice sign. hopefully we will see some bullish movement from this pair again soon. Im waiting for the second position entry for buys but if you went on the first one i would keep holding for now. if we break back above the .382 fib and hold then i will be buying and looking to make the new highs for a bull push. Once the uk economy and the virus slows down thats when we should see a strong push. GLIYF

 

[bigbax699]

Todays update is GBPJPY . If you entered on the first riskier position i posted initially then youre being rewarded currently 270 pips in profit. The second position isnt far away from entry. I would like price to break above this level first then get a little pullback to test before the entry and next push. if your already in move stop loss into profit and keep riding the wave. GLIYF