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GBP/JPY

  • #3,761
  • Mar 30, 2021 4:02pm Mar 30, 2021 4:02pm
an SL will also serve as a reversal
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  • #3,762
  • Mar 31, 2021 12:04am Mar 31, 2021 12:04am
long this pair from 152
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  • #3,763
  • Mar 31, 2021 11:18am Mar 31, 2021 11:18am
Major Support at 152.54 and below that 152.23
Clear seas ahead, should push up considerably, no resistance in sight
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.proH1 2.png Size: 46 KB
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  • #3,764
  • Apr 6, 2021 3:50am Apr 6, 2021 3:50am
I am now short this pair for the retracement. I expect it to find support at 152.54, 152.23 and finally at 151.88
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 51 KB
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  • #3,765
  • Apr 6, 2021 3:57am Apr 6, 2021 3:57am
Quoting Sammih
I am now short this pair for the retracement. I expect it to find support at 152.54, 152.23 and finally at 151.88 {image}
50 lot!!!
Standard lot size?
Real account?!!!!
Trade to enjoy... Money is after!
  • #3,766
  • Apr 6, 2021 5:13am Apr 6, 2021 5:13am
Quoting saninvestor
{quote} 50 lot!!! Standard lot size? Real account?!!!!
I have attached my explorer as a signature. Its a demo account. Working on optimizing a strategy on this pair.
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  • #3,767
  • Apr 6, 2021 7:53am Apr 6, 2021 7:53am
Price fell all the way to 151.88 and reacted. our two previous support levels now become resistance levels

Lets see what happens if we retest 151.88
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.2.png Size: 30 KB
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  • #3,768
  • Apr 6, 2021 11:15am Apr 6, 2021 11:15am
Price has closed below the 151.88 support level. I now expect the following levels to act as support

151.17
150.78
150.35
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  • #3,769
  • Apr 6, 2021 11:34am Apr 6, 2021 11:34am
Quoting Sammih
Price has closed below the 151.88 support level. I now expect the following levels to act as support 151.17 150.78 150.35
I see a possible chance for a brief retracement to 152.01 due to the Bullish Divergence on M30, M15, and M5 before another dump.

10Q
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20210406-133834_MetaTrader 4.jpg Size: 1.1 MB
  • #3,770
  • Apr 6, 2021 2:13pm Apr 6, 2021 2:13pm
Quoting 934rex
{quote} I see a possible chance for a brief retracement to 152.01 due to the Bullish Divergence on M30, M15, and M5 before another dump. 10Q {image}
I am a big fan of divergence myself having had the advantage of a triple bearish divergence on this trade when I entered. Your analysis is possible. Being a swing trader i will most likely just weather that move and wait for 150.35
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  • #3,771
  • Apr 6, 2021 5:12pm Apr 6, 2021 5:12pm
Quoting Sammih
{quote} I am a big fan of divergence myself having had the advantage of a triple bearish divergence on this trade when I entered. Your analysis is possible. Being a swing trader i will most likely just weather that move and wait for 150.35
Absolutely... You can!
As traders, we are paid to wait!
  • #3,772
  • Apr 7, 2021 3:05am Apr 7, 2021 3:05am
Quoting Sammih
Price has closed below the 151.88 support level. I now expect the following levels to act as support 151.17 150.78 150.35
151.17 held
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  • #3,773
  • Apr 7, 2021 3:09am Apr 7, 2021 3:09am
Quoting Sammih
{quote} 151.17 held
Now, come back to main trend, let's go to 154 first
  • #3,774
  • Apr 7, 2021 3:49am Apr 7, 2021 3:49am
Quoting wanted
{quote} Now, come back to main trend, let's go to 154 first
Yes, once we resume the trend on this pair (bullish), I expect to hit at least 155.279. But I follow the market, we just might get a push further down to 150.77 before we resume the trend.

I will consider the trend to have reversed if we close and hold below 150.35

So for me the best place to buy is 150.5 with a stop below 150.35, otherwise I will wait for confirmation that the retracement is done.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 44 KB
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  • #3,775
  • Apr 7, 2021 3:53am Apr 7, 2021 3:53am
The current active resistance levels are 151.88 followed by 152.22 and then a push above 152.54 should send us back to 153.38.

See chart in previous post
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  • #3,776
  • Edited 7:15am Apr 7, 2021 7:04am | Edited 7:15am
Quoting Sammih
Price has closed below the 151.88 support level. I now expect the following levels to act as support 151.17 150.78 150.35
now at 150.78

Moved my Sl to 152.27
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.3.png Size: 37 KB
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  • #3,777
  • Apr 7, 2021 7:09am Apr 7, 2021 7:09am
Quoting Sammih
{quote} Yes, once we resume the trend on this pair (bullish), I expect to hit at least 155.279. But I follow the market, we just might get a push further down to 150.77 before we resume the trend. I will consider the trend to have reversed if we close and hold below 150.35 So for me the best place to buy is 150.5 with a stop below 150.35, otherwise I will wait for confirmation that the retracement is done. {image}
Just printed out 150.77, let see, I bought at 150.85
  • #3,778
  • Apr 7, 2021 7:25am Apr 7, 2021 7:25am
Quoting wanted
{quote} Just printed out 150.77, let see, I bought at 150.85
These are buy zones now we are entering. It is between the 50% and 61.8% retracement of the up-move we just experienced on the daily. A long here is sound with a stop below 150.35

There is one policy I have taught myself to always keep in mind. Never marry a position (side bias) and the best place to buy is also the best place to sell.

The first few moments after entering a trade will tell me if I took the correct side.
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  • #3,779
  • Apr 7, 2021 10:18pm Apr 7, 2021 10:18pm
I see a bullish bat on the daily and engulfing on monthly. I am loading longs with target of 153 by end of the week. I see yen pairs recovering in today and tomorrow's sessions. This selldown is merely due to Easter holidays slump. The equities market will be back in full swing and GBP will lead the way. I see the largest growth amongst the yen pairs to be GBP/JPY. A buy now should give us 200 pips in 2 days. I think that's a good move to gun for. I'm in!
  • #3,780
  • Apr 9, 2021 6:58am Apr 9, 2021 6:58am
Seems like the retracement is over and we are back to the main trend.

Taken a long at 150.81
SL 149.48

There is a triple bullish divergence which I love to see
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.4.png Size: 31 KB
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