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GBP/JPY

  • #2,101
  • May 5, 2020 8:59pm May 5, 2020 8:59pm
i believe due to jpy bank holiday we are pushing down but still in the end we should end up at 132.500 thats a solid 4 resistance... before any major moves
Extreme gut feeling trader
  • #2,102
  • May 6, 2020 2:40am May 6, 2020 2:40am
since GJ is confusing and sitting at the support area I decided to take a look at other JPY pairs

I realize they are all sitting at support and we might see a group bounce for all JPY pairs if the supports keep holding
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  • #2,103
  • May 6, 2020 4:37am May 6, 2020 4:37am
Quoting karmostaji
It's struggling to break the 133.10 resistance area, might take a dive to the 132 support area before reversing.
4h candles closed well below the strong support area around 132.50 and now price is even below 132. If the daily candle manages to close below 132, it is a very bearish sign to me (daily candle already closed today below gann hilo also).
Trade what you see, not what you think.
  • #2,104
  • May 6, 2020 4:48am May 6, 2020 4:48am
Quoting karmostaji
{quote} 4h candles closed well below the strong support area around 132.50 and now price is even below 132. If the daily candle manages to close below 132, it is a very bearish sign to me (daily candle already closed today below gann hilo also).
i agree but for me i would choose daily close below 131.4x over 132 just to avoid getting caught with sneaky GJ
  • #2,105
  • May 6, 2020 10:30am May 6, 2020 10:30am
Quoting msniper
{quote} i agree but for me i would choose daily close below 131.4x over 132 just to avoid getting caught with sneaky GJ
It should find some support here around 130.50 to 131 area.

We have major GBP news tomorrow also, will be interesting to watch the fireworks.
Trade what you see, not what you think.
  • #2,106
  • May 6, 2020 1:11pm May 6, 2020 1:11pm
Quoting karmostaji
{quote} It should find some support here around 130.50 to 131 area. We have major GBP news tomorrow also, will be interesting to watch the fireworks.
have some friends who do time analysis and they say the reversal of GBP will be on Thursday or friday

i suggest 129.30 or 130.70 to do some magic

r u still long ?
  • #2,107
  • May 6, 2020 3:18pm May 6, 2020 3:18pm
Quoting msniper
{quote} have some friends who do time analysis and they say the reversal of GBP will be on Thursday or friday i suggest 129.30 or 130.70 to do some magic r u still long ?
no, that long got stopped out but recovered some pips going short today.

Waiting for the news tomorrow and then look for signs of reversal.. or continuation.. price is at a tricky level I feel.
Trade what you see, not what you think.
  • #2,108
  • May 7, 2020 1:09am May 7, 2020 1:09am
nice bounce after the interest rate

now we need to figure out if its real bounce or dead cat bounce hehe
  • #2,109
  • May 7, 2020 2:02am May 7, 2020 2:02am
that's my final thought now for GJ

Wave Y cannot go below 129.6x
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  • #2,110
  • May 7, 2020 2:49am May 7, 2020 2:49am
Quoting msniper
nice bounce after the interest rate now we need to figure out if its real bounce or dead cat bounce hehe
I think it's a dead cat bounce as long as it doesn't close above 132 and next down target is 128.50 area.
Trade what you see, not what you think.
  • #2,111
  • May 7, 2020 2:56am May 7, 2020 2:56am
Quoting msniper
that's my final thought now for GJ Wave Y cannot go below 129.6x {image}
it reached to my alt X

i am short now to target below 130

i will buy between 128 to 129.80 over there is safest place

then target 136 and 137
  • #2,112
  • May 7, 2020 2:56am May 7, 2020 2:56am
Quoting karmostaji
{quote} I think it's a dead cat bounce as long as it doesn't close above 132 and next down target is 128.50 area.
i agree
  • #2,113
  • May 7, 2020 6:19am May 7, 2020 6:19am
maybe wave 4 is done and we should be going down in wave 5
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  • #2,114
  • May 7, 2020 9:40am May 7, 2020 9:40am
Quoting msniper
maybe wave 4 is done and we should be going down in wave 5 {image}
Here we go sliding
Trade what you see, not what you think.
  • #2,115
  • May 7, 2020 9:54am May 7, 2020 9:54am
First time trade on this pair, 70 pips up.

Any advice with this pair? lol

This thread seems lovely compared to EURUSD, nice and tranquil.
You can lead a horse to water, but you can't make it drink
  • #2,116
  • May 7, 2020 11:18am May 7, 2020 11:18am
Quoting xkwisit2001
First time trade on this pair, 70 pips up. Any advice with this pair? lol This thread seems lovely compared to EURUSD, nice and tranquil.
Advice? This pair can kill in a heartbeat, so be careful and lock em pips.
Trade what you see, not what you think.
  • #2,117
  • May 7, 2020 4:33pm May 7, 2020 4:33pm
Quoting karmostaji
{quote} Here we go sliding
whats ur opinion after this bounce ?

dead cat again ?

am thinking GJ will head down to somewhere around 130 then up to 133 to 134 then down again to 128 to 129 then up to 140
  • #2,118
  • May 7, 2020 4:55pm May 7, 2020 4:55pm
Quoting msniper
{quote} whats ur opinion after this bounce ? dead cat again ? am thinking GJ will head down to somewhere around 130 then up to 133 to 134 then down again to 128 to 129 then up to 140
I don't like the bounce but it seems like it's forming a bearish flag, the 4h is still bearish and should head down if it doesn't close above 132.

We have NFP news tomorrow and it's friday
Trade what you see, not what you think.
  • #2,119
  • May 7, 2020 5:53pm May 7, 2020 5:53pm
Quoting karmostaji
{quote} I don't like the bounce but it seems like it's forming a bearish flag, the 4h is still bearish and should head down if it doesn't close above 132. We have NFP news tomorrow and it's friday

GBPs they love to go down on Friday 80% of the time
  • #2,120
  • May 8, 2020 3:13am May 8, 2020 3:13am
alright so i tried to avoid making analysis for GJ and concentrate on UJ and GU and i came throw a very possible scary scenario

looking at UJ and GU classic analysis only we have some bearish pattern targeting 104.5x area and 1.19xx area in GU

which will lead that GJ will fall down to 124.xx area

at the same time i have a harmonic indicator is giving me a possible future pattern that GJ should fall down to 124.xx area ! what are the chances !!

so what u think guys ?
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