Daily GBP/JPY analysis

Yes I'm looking at the triangle we are entering currently bounded by 149 and 150. GBP news out soon...

I notice you have set a straddle. Will you close the other order if you get a fill, or just leave them?

I will leave it opened

Peter

we had one more internal day and volatility ratio 6/100 for that day is 69%

Peter

hi peter..

good day to u bro..hope u doing well?

catch u in a bit on the other side..trade safe and may the pips be strong on yur side

Hi Nav,
I have been looking for You in the morning on the cable thread and was quite sad not seeing You there , but that's great You dropped in to visit me here.
I have posted also my cable order in the knife thread at James16 pf, and wanted to post it at FF but not seeing You...

Peter

At this moment, due to the breakout of lower red trendline, therefore I believed market in favour towards a bearish continuation trend to perform subwave iii in white. But, a true breakout towards the bearish continuation critical line 1 is necessary to bolster towards this scenario. Otherwisem, please be careful for any bounce scenario from any support critical lines. Good luck.

At this moment, I'm looking forward market to perform another bearish continuation trend scenario to complete either subwave 5 in aqua or subwave iii in white. A further breakout towards the lower red trendline and bearish continuation critical line 2 (146.35) would bolster to this scenario. Otherwise please be careful for any truncated wave 5 scenario refering toward the alt count in magenta. Happy weekends and good luck.

Gbp vs Jpy (1H) - Preferably, I'm looking forward market to perform a bearish continuation trend refering to the alt count in aqua and white. Otherwise, please be careful for a truncated scenario in magenta.

Gbp vs Jpy (Daily) - Favourably, I'm looking forwards for a breakout to the bearish continuation critical line 1 to bolster towards a bearish continuation trend scenario. Otherwise, please be careful for any bullish rally to complete the unfinish wave 2 in magenta.

Gbp vs Usd (Daily) - Favourably, I believed market will perform a bearish reversal trend to perform corrective wave c in yellow. Otherwise, please be careful for any bullish trend to complete the unfinish corrective wave b in magenta.

AUD (Daily) - Preferably, I'm looking forward market to complete subcorrective wave a in white before expecting for a bullish retracement trend perhaps to complete a "Head and Shoulder" pattern (bearish reversal) for subcorrective wave b. Therefore, advisable to look for a good opportunity towards a bearish reversal entry signal from BSTS later within this week. Otherwise, please be careful for another bullish rally scenario to complete wave v n 5 refering towards the alt count in yellow. Good luck.

Due to the strong bounce, therefore I believed wave iii in white is already completed. Favourably, I'm looking forward market to perform another bearish continuation trend to complete wave v in white. Otherwise, please be careful for a possibility market to perform corrective wave c in magenta. Good luck.

I didn't find any recent thread where traders come together to discuss technical analysis on the gbp/jpy so I thought I would start one. Feel free to post any bias on this pair. I myself trade this pair along with 5 other pairs on the 4 hour and daily charts. I simply look for the trend and try to take a ride for as long as I can. And when I lose I keep my losses small. I currently have a short open with my daily strategy and am up a little over 2%. Opened trade at 150.21 towards the end of October and now and managing my trade. I risk 2% per trade and my stoploss has been moved down to worst case senario a loss of 1%. Lets see were this trade goes.

At this moment, I'm looking forwards market to perform a bearish continuation trend scenario to perform subwave 3 in aqua. A true breakout towards the bearish continuation critical line 2 would bolster towards this scenario. Otherwise, please be careful for any bullish trend perhap to complete subcorrective c (2) in magenta. Good luck.

Any specific target in mind? I am looking to short it a little lower than the session high, which is also below 55 MA so putting on a sell order for 1.4705. Gonna keep risk locked up pretty tight on this one and put a SL at 1.4725. Gonna take half a lot profit at 1.4630 and ride the rest... Assuming position even opens...

Gotta study and then go to bed so hoping to wake up to a surprise - a good one!

Ciao,

Veng.

How did that trade turn out for you last night. Hopefully you made some money. Once it breaks 146.36 next support start around 141.11 i'll look for signs that the market wants to turn around. So far this morning up and looks like it wants to break that 146.36.

haha My pc crashed shortly after and I couldn't be bothered to start it up again. In hindsight, it would have worked fine except SL would have been hot shortly after on a fake out... So I guess, in a way, my pc crashing saved me a few bucks...Rate got up and kissed falling trendline from the 17th. In hindsight, that would have been a better area to put a short.

Cheers,

Veng.

Preferably, I believed market in progress to to complete subwave 3 in aqua. Therefore, please be careful for any bullish retracement trend scenario to perform subwave 4 later or a strong bullish retracement to perform wave 2 in magenta. Good luck and "Selamat Hari Raya Aidil Adha & Maaf Zahir Batin".

Well another miss on this pair for me. My trading system gave a good sell signal at the close of the 4hr candle at 8 am EST, but as I live in western Canada, which is 2 hrs behind EST I wasn't awake to get in! I suppose I could have got in on the next candle or two, but I didn't even think of it...too busy at work and not enough coffee! haha

Def. be interesting to see if this pair keeps plunging!

yessssss 1

yessssss 2 TF h4

Currently doing well on this daily trade.