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GBP/JPY

  • #2,141
  • May 10, 2020 2:50am May 10, 2020 2:50am
Quoting FXSal
Hello traders. This is the scenario i see geppy playing out. nothing is cast is stone but hope it works out near enough. I wish all traders many pips and good luck which is sometimes what we need. {image} {image}
this is a valid scenario but I don't think it will happen before going above 135.75 first
  • #2,142
  • May 11, 2020 2:14am May 11, 2020 2:14am
Short 132.87
Will add another lot higher
COT: The precious data ignored
  • #2,143
  • May 11, 2020 3:42am May 11, 2020 3:42am
I'm shorting for a few pips, maybe towards 129,xx area

But remember long term shorting is at very high risk

Attached Image
COT: The precious data ignored
  • #2,144
  • May 11, 2020 4:10am May 11, 2020 4:10am
Quoting kuroro001
I'm shorting for a few pips, maybe towards 129,xx area But remember long term shorting is at very high risk {image}
I agree I am also shorting to target 129.90 or 129.60

so far GBPUSD is bearish and USDJPY made a bullish breakout

we need to wait for GJ to break 132.20 to confirm the downtrend resume
  • #2,145
  • May 11, 2020 4:32am May 11, 2020 4:32am
Quoting msniper
{quote} I agree I am also shorting to target 129.90 or 129.60 so far GBPUSD is bearish and USDJPY made a bullish breakout we need to wait for GJ to break 132.20 to confirm the downtrend resume
Waiting for a proper 1h candle close below 132.20 to 132.40 area before going short, otherwise will wait and see because it could otherwise go up again to next resistance level at 133.50 area.
Trade what you see, not what you think.
  • #2,146
  • May 11, 2020 4:49am May 11, 2020 4:49am
Quoting karmostaji
{quote} Waiting for a proper 1h candle close below 132.20 to 132.40 area before going short, otherwise will wait and see because it could otherwise go up again to next resistance level at 133.50 area.
I Agree with your analysis bro..same thing i was looking at and had a double 30pips scalp already....here's my insight.
For today have had two early trades on gbp/jpy...played with the mini channel between 132.6area--to--132.9area a 30pips front and back..watching for a possible break out of the 133.2area--to--132.3area channel that is holding so far....what are your outlook for the week and what pairs are you playing with...stay safe,trade safe...cheers..Parsifal
Imanuel Parsifal
  • #2,147
  • May 11, 2020 4:49am May 11, 2020 4:49am
so far I can see 5 waves down lets see if it holds
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  • #2,148
  • May 11, 2020 4:55am May 11, 2020 4:55am
Quoting karmostaji
{quote} Waiting for a proper 1h candle close below 132.20 to 132.40 area before going short, otherwise will wait and see because it could otherwise go up again to next resistance level at 133.50 area.
L GY 132.47/ 131.96 tp open
  • #2,149
  • May 11, 2020 6:22am May 11, 2020 6:22am
Looks like H&S in the making
Trade what you see, not what you think.
  • #2,150
  • May 11, 2020 7:05am May 11, 2020 7:05am
Quoting karmostaji
Looks like H&S in the making
without it better lol more bearish I guess
  • #2,151
  • May 11, 2020 8:19am May 11, 2020 8:19am
Quoting msniper
{quote} without it better lol more bearish I guess
It has picked me up, you may drive it south now
Trade what you see, not what you think.
  • #2,152
  • May 11, 2020 8:46am May 11, 2020 8:46am
Quoting karmostaji
{quote} It has picked me up, you may drive it south now
what if today top is only left shoulder lol and one more push to 133.50 to make the head and then down again loool
  • #2,153
  • May 11, 2020 8:50am May 11, 2020 8:50am
Quoting msniper
{quote} what if today top is only left shoulder lol and one more push to 133.50 to make the head and then down again loool
I'm going to jump off a tower
Trade what you see, not what you think.
  • #2,154
  • May 11, 2020 9:03am May 11, 2020 9:03am
As long as it doesn't break today's high, then it is making the right shoulder of the H&S on the 1H.

Stick to the plan & take some patience pills

If it doesn't go well, we get up and look for the next opportunity.
Trade what you see, not what you think.
  • #2,155
  • May 11, 2020 11:12am May 11, 2020 11:12am
My next target at 133.7ish
WARNING: This post warps space and time in its vicinity.
  • #2,156
  • May 11, 2020 4:42pm May 11, 2020 4:42pm
so far I see potential for many H&S patterns with SL breaking 133 area
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  • #2,157
  • May 12, 2020 7:23am May 12, 2020 7:23am
Quoting smikester
I am usually wrong with this pair but anyway: {image} I am longer term (months) bullish this pair and I think if we break 132.00, that will be significant. .

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Gone to a better place
  • #2,158
  • May 12, 2020 12:07pm May 12, 2020 12:07pm
Quoting karmostaji
As long as it doesn't break today's high, then it is making the right shoulder of the H&S on the 1H. Stick to the plan & take some patience pills If it doesn't go well, we get up and look for the next opportunity.
The pills are working

on the 4H, QQE has crossed downwards, closed below gann hilo and 50ema, all strong bearish signs to me..

My 1st target is 130.50 and 2nd target is 128.50 area.
Trade what you see, not what you think.
  • #2,159
  • May 12, 2020 1:18pm May 12, 2020 1:18pm
I exit my GJ short now at 131.69

I am not happy that cable still above 1.2260

I am not happy that EURGBP is near a resistance of the rectangular which can be ABCDE pattern and goes bearish which lead bullish to GJ

so I decided to exit and watch daily close and then decide
  • #2,160
  • May 12, 2020 4:59pm May 12, 2020 4:59pm
I saw the daily candles for GJ and I went and searched for any other currency or company that have the same pattern and I found something similar in QQQ

what u think guys ?

GJ will do the same small drop then fly
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