GBPJPY Bull

bax699

Well-known member
428 82
Good morning all, new week begins. GBPJPY has virtually hit our TP projection zone so im calling to take profit on this position if you followed me. I took profit today at 350pips, not a bad return and a good way to start FEB off. ill wait for the next setup before entering again. Will watch how it reacts here at this zone then chart up the next idea. Hope you managed to catch it with me. Onto the next
Screenshot_1.png
 

bax699

Well-known member
428 82
Back onto our friend GJ today. Few days ago i advised to take profit as we we're virtually at TP zone and it looked to be rejecting, which shows to be a good decision. Looking for the next entry on this pair i can see a pullback happening here. It could turn at the support shelf below, or we could get a deeper re trace to the trend and longer term EMA's for a multiple confluence trade. GJ is still bullish for me, the average price for this pair is still low if you look through the past, so we still possibly have more upside potential. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Last look at our friend GBPJPY there was two entries i was looking at. If you marked them out and then watched on the lower timeframes then you would of seen it reverse on the first setup zone. Should of been a pretty simple trade to take if you were looking for the buy. Currently 200 pips up on this position. We have a zone where price could stall at 146, which is the significant high we can see to the left. You could even take profit there and wait for a retest of the zone we have just pushed through. The trend is looking strong on GJ at the moment. GBP has gained alot of strength lately. But for now keep holding if you followed will update again in a few days. GLIYF
Screenshot_5.png
 

bax699

Well-known member
428 82
Its been a good few days since we checked out our trade on GJ. Im happy to report our TP zone has been hit. Price has moved strongly on most GBP pairs and provided us with a lovely 430 pips on this trade. The trend remains strong and i can see a continuation still on GBP pairs, but maybe a retracement first. Ill keep watching and update in a day or so with some more trade idea's for this pair. But for now enjoy the pips. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Cant believe its been almost two weeks since ive done a post on the Red Dragon (GJ). The last time i posted we had hit a TP of 430 pips. Well if you held that then you would of been rewarded 700+. GBP saw crazy buying power come into the currency, most likely due to being ahead on corona Vaccines thus recovering to pre corona market prices. We are clearly in a bull market here so im looking for buys only still. Multiple supply zones have been broken along the way. It looks clear to me now that we will most likely be visiting the monthly supply zone above. The weekly supply zone has been broken, so i will be looking to buy in on demand areas below price. Watch for price to accumulate the demand and enter. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
The last time I looked at GBPJPY was two weeks ago, crazy as its my favorite pair. But I have been waiting for a pullback in price which hasn't come to us yet. There was a small daily demand zone created where price rejected right from and continued on the bull run we see today. Price has just touched a small daily supply zone so if you're looking for a intraday trade you could sell here down to some demand. Always use 1% risk as always. I will be looking for a big buy from the levels below. I'm fairly certain we will visit the weekly supply zone above. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Good morning, looking back at our old friend the red dragon today (GJ). Last time I posted these trade setups, One was the sell from this supply zone price was sat at. Massively overbought and an easy sell from the supply zone . BUT we are still in a bullish trend in my opinion so we can look for buys when we reach the demand area's below and close the short's. Currently price is 290 pips in profit on this setup. Wether price holds this trend line is the decider to close sells or not. If it breaks through then we can hold until we reach demand below. Don't give the pips back to the market and take the profit, as 290 in a few days is a good haul. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Good evening all, hope everyone had a good weekend, i'm just sitting down to watch the F1 and looking at the charts for the week ahead. Our trade on GJ did as I though It might do. It hit the trend line and responded. We peaked at just over 300 pips profit at the trend line . So if you caught the turn in price there and closed, good job. I missed it and closed on the daily close candle for 200 pips. Which is still good enough for a nice intraday trade. I'm looking at the same style of setup again. Watch for price action when it gets to the same supply zone . We could make a double top and drop. Or maybe a slight fake out and drop, or we may push through to the weekly supply zone located further ahead higher. But be ready should be easy enough to take again. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
New trading week begins, GBPJPY is today's flavor. Last time i was looking for the double top at the daily supply zone , But GBP had other idea's. The bull continues, we have pushed through and for sure we should be visiting the weekly supply zone above. That's where ill be looking for a sell. The trend is very strong so its looking like it could go higher. But I'm sure we should see a retracement soon, so ill be looking for price to stall there to sell down to demand. Mark it up and wait for the reversal signs, then enter. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Good morning all, GBPJPY has started the retracement. I gave out the setup last week to sell form the supply zone but price never made it there. If you was watching it then you could of caught the top double hammer candles and entered. If you did you would be up 230+ pips currently. I wasn't watching so I missed it. But price is currently at a decision point. If we drop through the secondary trend line then we could be on for a further drop so i will be looking to sell on the retest of the break. Its coming into the time of safe haven season chf and jpy might see some short term strength here so we could see a strong return on our position. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Good morning all. I am looking at a potential entry on GBPJPY . We have come to an area of interest with price. We have broker through the trend line and it looks to be retesting the break. Plus at the same time it looks to be forming the right shoulder of a H+S . Lets see what happens around here and if we get the signs off the 1H/4H timeframes then I will take the sell down to the demand area below. Should be a fairly easy trade for you all to take. 390 pips on offer with this setup , so a good haul to grab. GLIYF
Screenshot_3.png
 

bax699

Well-known member
428 82
Good morning all. Back to our friend GJ today. Last time i gave the setup out we was looking for a test of the trend line break . Which we got perfectly on the 4H time frame. Currently 100 pip sup on this position, but I have a feeling that we could see price visit entry zone again before dropping. So I will leave my SL above supply zone before making risk free this time. Plus it gives opportunity for others to enter if we visit entry zone again. Will update again in a few days. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Good evening everyone. Hope you're all having a good weekend. Checking back in on GBPJPY before the markets open tomorrow. Price has continued in our direction and we currently find ourselves just over 200 pips in profit. Friday price slowed at the moving average support and finished the day as a doji . We need to break that to reach TP zone. I do think this is just a short term sell on GJ as a retrace in price. So make sure to lock in profits along the way. I will be looking for buys again from the demand zones below. Ideally the second one with multiple confluences. But for now keep holding and moving the SL into profit along the way. Enjoy the rest of your weekend. GLIYF
Screenshot_1.png
 

bax699

Well-known member
428 82
Good afternoon all. Re evaluating GBPJPY today and we can all see price pulled back after it found the dynamic support from the moving average. Great example of how we use that in our trading. I closed my position after the daily candle closed as a bullish doji after rejecting from the moving average for 200 pips. Ideally you should of all done the same but if you kept holding then you will be slightly in profit. If todays daily candle closes ass a bearish wicked out hammer then I think it might create a lower high and possibly move down towards TP zone. If it does close this way I will enter again from the daily close. Should be easy enough to take if so GLIYF

Screenshot_1.png
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock