Gj Reversal Zones

[JimmyRozza]

It's fallen back into the triangle. Keeping my eye on that supply zone!

 

[bigbax699]

Good morning back on my favorite pair today. Last time out price was looking like it was about to break above to continue the bullish movement, as we were looking for a break and re test. BUT look at what has happened, price literally visited the supply zone and dropped like a stone. IF you had the zone marked out and was a daily scalper you could of caught that move easily. But as im intraday to long term trader I am looking for buys. Which presents us with the opportunity to buy again from the strong demand zone we have previously bought from successfully. We will also be getting to the squeezed point in this downtrend in the bullish channel . Which excites me as we may catch a big move with a buy from this demand. So keep your eyes out in the next few days, once we hit this demand get ready to buy. GLIYF

 

[Treacle]

I bought just before it crashed, need it go up very soon.......

 

[momo3HC]

It`s getting really interesting with this pair.

 

[bigbax699]

Good morning all, back to my favorite pair today GBPJPY . Price has seen a dramatic fall recently. But look where it ended up. At that nice big strong demand zone . I actually took a buy yesterday on the lower timeframe's as there was divergence. Ideally you could wait for this daily candle to close bullish to enter but I am already in. Little riskier so I have set my SL to BE already. I still believe we will see that break above, the trend line has been tested many times now and the last time it did break through but fell back. With this squeeze into the corner I think we may see that break above. I could be wrong but that what im placing my trades on. GLIYF

 

[bigbax699]

Good morning all, new week begins. Checking back in on the GBPJPY buy trade taken. Previously I had moved my SL to BE and price revisited and stopped me out. But I managed to enter again at a slightly lower price. All good as I believe in this big demand zone . Price found support and we have moved in our desired direction yet again on this pair. Currently sitting at 264 pips in profit of a R:R of over 1:2 currently. Risk free trade yet again and moving nicely. Price has breached the trend line so im hoping this will be the break above I have been waiting for. Hold for now GLIYF

 

[JimmyRozza]

Thanks, this is what I feared. My EA is stuck in sells. It could be time to start hedging I think. This has confirmed my thoughts.

 

[TareqS]

What an entry it has been! The price made a breakout at the bearish trendline, so it may head towards the North with good momentum. I assume it may find its next resistance around 155.000. Thanks for sharing your chart.

 

[pezz55]

Great trade and pin point entry, i always worry about being wicked out on entry's like that to take out all the previous lows to the left before the strong break higher. with my mind set like that i end up missing the big push up and get scared of entering and chasing the trade. As you say now you are coming up to resistance and there for could be a short term pull back which could be a nice second entry for the continues buy.

 

[AliForexTalks]

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
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You've had some really nice trades in this thread. I will look at this one first thing Monday morning!