Well we’ve seen GBP fall the past few days due to some news release regarding brexit and someone leaving office. But if we look at the overall picture the structure still looks bullish to me. Dont forget the average price for GJ is still very low. I wanted price to come back down in a big retracement so we can buy lower. This is my ideal setup here. buying from support and on trend. If price manages to hold here for a couple of days then i will be taking this buy from here, aiming for the previous high for a nice return of 500 pips. Remember always wait to enter dont try to catch a falling knife. GLIYF
Reporting today a SL hit on GBPJPY . I was leaning on it holding around 136.13 zone and possibly making a U turn. But yesterday we saw most JPY pairs drop hard. Doesnt matter though we cant win them all and only 2% lost, another reason why we use risk management. But what next? Well its still possible for price to make a higher low and then turn around. But for now we are bearish until that happens. It just means we can buy at a lower price and gain more pips on the next trade. ive marked out a couple of zones of interest where price could find support. Wait with patience for the bull to return. GLIYF
Back onto our friend today to end the week. GBPJPY ahs been a bloodbath the last couple of weeks. The goal posts have been moved and to be honest now i think we have a much cleaner parallel channel . Price looks to of found support on the 50% fib. But im not entering just yet, i will be waiting for it to break above the .382 fib zone and buy on the retest. Very similar price action to what i have marked out previously. Aiming for below previous high, which is still a modest 300+ pips 1:3.4 R:R. i would rather wait for that trade than enter now after all the recent bearish action. Patience pays, have a good weekend all GLIYF
The marked out zone i had for GJ was almost a hit. Looks like a text book setup for me. Broke above the resistance and looks to be now testing the broken level. Only thing to be weary of is friday tomorrow and NFP. I might enter with a small parcel today just so it doesnt run away from me. Although its best to wait until next week with a couple of consolidation candles before the next push. As i say careful with NFP tomorrow. GLIYF
Good morning, new week begins so time to report on our GJ buy. Dont you just love it when price plays out as expected. Pure technicals look great, price broke above the level as marked out previously, we got a couple of daily candles testing the zone and boom off again we go n our desired direction. Currently we are just over 100 pips in profit. You can set SL to break even here, or keep it as is, theres an opportunity that it could test that level again. But overall i can see us hitting TP no problem. GLIYF
Morning all, new week begins with GBPJPY . Checking up on price its made good movements for us. We have peaked at 187 pips in profit. Today looks to be falling back a little in price naturally and were currently 130 pips in profit. Keep holding this if your in with me. Its possible we could come and test back on this little shelf of support below, but i dont think it will come that low. Nice bottom wick would do us for more continuation. BUT also news out of the UK this week with further lockdowns could see us tank. So if your happy with current profits take them, or close half of the positions and let it run. Have a good week GLIYF
Looking back at GBPJPY today, the markets have been very strange lately. Lots of volatility in pairs at times. Recently GJ has been slow moving. But our entry position on this pair seems to be a good strong support zone . I think we will still see a nice bull push on this pair soon enough, our TP isnt crazy distance away in terms of structure so ill keep holding for now. to give me more confidence id like to see it create a new higher high on this step. Lets keep watching for now and monitor the coming days price action. GLIYF
Back to our old friend GJ today. Can confirm SL was hit at entry point. Unless you took profits or moved SL into profits. Now no big deal as thats why we lock in profits and not give them back to the markets. Recently Risk On pairs took a big tumble along with the share markets which we can see here. But they have all hit Daily trends as we can see here in this big channel we are in. It will be very interesting to see over the next few days wether we drop through the long standing trend or not, if we dont i can see it making a double bottom at the support below possibly. Look for support to form on these pairs and get ready for the buy. Will update once its ready. GLIYF
Last time i looked at GJ there was two buy points i was interested in. The trend line of this big channel or the drop through to a double bottom . If you watched it play out you could see clearly that we got support forming and a reversal candlestick pattern happen right on the channel trend. Perfect buy opportunity to get in, nice easy one to take. Im aiming for the next fib level above for a nice R:R of 1:3 300 pips. But also today is US election so it could shake the markets up big time, especially if the big boys decide to shift money into risk on pairs. So just be careful if you are in this trade. GLIYF
Good morning, new week begins and looks like Joe Biden is the new US president, plus we have a nice TP hit to start the week off, not bad at all. Last tuesday i bought GJ after the support formed on the trend line , we had some choppy up and down movement since. But today we can report TP has been hit and was a lovely 300 pips profit.
Great start to the week, ill be looking for further bullish movement, a lovely break and retest of the key level above would do the trick for me.
GLIYF
Great start to the week, ill be looking for further bullish movement, a lovely break and retest of the key level above would do the trick for me.
Back on our friend GJ today. After hitting TP in our last buy im again looking for more opportunities. Price is currently testing a little shelf of possible support from those previous two little highs. We could possibly get a buy from here IF support is found and formed, so watch out for that currently. IF it does'nt hold here then ill be looking to buy from the multiple confluence area of the channel trend line and the 0.382 fib level. Wait for support to form and get in on the buys is my go to idea. GLIYF
Todays update is on our old friend GBPJPY . Was looking for this pair to find some support and it looks like its what we have found. Three daily candles wicked out right on that support shelf. With each daily candle's low higher than the last. Trade entered for myself, just need to see a nice break above that resistance zone for another break and retest for more bullish movement. GLIYF
Hi all been away but now Looking back on GBPJPY today. Pleased to report we are currently 300 pips or so in profit. Not a bad haul of pips, i think th erecent news of the vaccine release has helped matters along also. I will be holding it into next week. But ill be ready to take profits if we see some bearish price action on the smaller time frames. I suggest you do the same as we are in december now. GLIYF
Todays pair is GBPJPY . We initially entered in the marked out circled area and reached 290 pips in profit. Which you could of taken when the reversal signs appeared. But price came only back to our entry position again before a big rejection. If you stayed in from the original entry we are currently 273 pips in profit. Hopefully you took profit on the first entry and entered again as the setup was exactly the same. Easy to take, all you have to do is look for the signs on the smaller timeframes and easy intraday pips. As always lock in your profits, take full profit, or take half and hold, just dont give it back to the market 
GLIYF
GLIYFGood morning, today checking back in on GJ. For this pair, this move has been a bit of a slow one. Most likely due to the UK pandemic situation and being the Xmas holidays etc etc. But non the less we are currently just under 400 pips in profit from this setup. Price is looking likely it could hit our TP projection zone. But as always make sure to move your SL into profits to bank. Or reduce your position and take some profits with SL at entry. There has been multiple times since i first posted this setup where price has come to entry zone, giving you multiple times to enter if you missed it first time. GLIYF
Today i'm happy to report that our trade long on GBPJPY has hit our TP projection zone. A nice 440 pips returned on that setup. It did take longer than expected but a good return non the less. I can see it pulling back from here as i can see a vector forming on this supply zone . ill look for the next setup in the next post. But for now enjoy the pips profit
Good morning all, new week begins. Could be a big week for USD possibly with the president being sworn in. Or has price already factored that in. Anyway looking at GBPJPY next possible trade, im liking the look of a buy from this support area where price almost sits at. Definitely a strong zone with alot of mess to the left to go through. Could be ideal to buy from there for the push north to the next zone above. nice R:R of 1:4 on offer with this setup. Always remember for support to form before entering the buy. GLIYF
Todays overlook is on GBPJPY . Last time i marked up this pair it was almost at the support. We got a nice bounce from the zone and there was a pullback on the 1H chart that you could of taken the trade on. which i did. Currently 150+ pips in profit on this position. But its vital to break this supply zone to achieve TP projection zone. I have moved my SL to entry so its risk free running. If price fails to break this zone we could see a visit to the entry zone again. But ill lock in 50 or so pips if it starts to come back down. Hope you managed to get in. GLIYF
Quick update today on GBPJPY . Price is currently 150+ pips in profit from this position. It currently sits at the resistance zone that is vital to break through for us to reach TP zone. With the hammer formed on that last daily candle shows buying pressure. So hopefully we test this zone early this week and we can hope it break. If you followed then move SL into profit as it could fall from here back towards entry, which would be valid for re entry. GLIYF
Good afternoon all. Update today is on our GBPJPY buy. We have had a clear break of the supply zone where price was stalling at. The daily candle should close above, I will be very surprised if it doesnt. We might then get a re-test of the broken level to find support for the next push, or we may not. But keep holding for now, currently 260 pips in profit. TP zone isn't too far away now. GLIYF
Similar threads
