GBPJPY Bull

Good morning all, update today on GBPJPY . We haven't had much movement lately. Price looks to of formed a bearish flag right here at the demand zone . I am still holding my long position here due to favoring the strength of the demand zone from previous trades. But they don't hold forever and I am aware it could possibly break here with this flag. Again with trapping the market into a corner, trade the winning direction, for which I would like to be back bullish . But I will sell if we break through his demand zone , hold and watch for now. GLIYF
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Good morning all. Hope everybody had a Great Xmas and got lots of presents. I took last week off to refresh the batteries, But today its back to earning the pips. I left some trades going without checking over the holidays so lots to update on.
Today is GBPJPY and as we can see that demand zone we have used time and again has provided us with some festive pips. We got a nice breakout from that flag to the upside and even if you was watching we got a prefect retest of the break for those that hadn't bought from the demand zone , easy trades to take. Currently 380 pips in profit over 1:5 - R:R. Now is the time to secure profits and let the trade run as supply zone is about to come in play. GLIYF
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Good idea getting some risk off the table. I think we will see a retracement down into some of the gaps that have been left and then possibly a decent move up again.
 
Good afternoon all, started back this week on GBPJPY so thought I would finish the week with another update as we have had significant movement. As we can see price has penetrated through the supply zone and we are now trading back inside the weekly bullish channel . TP1 zone has been achieved, currently 570+ pips in profit for over 1:7 R:R. This is why I take my chances at the strong demand and supply zones as we can get handsomely rewarded, again and again. Now is the time again to secure some more profits under the fresh demand zone , either move SL up or close some of your initial position. Looking for a pullback to the demand and trend line for further continuation. Happy new year all enjoy the pips. GLIYF
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Good to see it moving back up. Looks like a nice re-entry point you've marked up there
 
Really lovely trade. I think the retracement might be a bit deeper but I think it will come back up and hit your TP2.
 
Well well well, GBPJPY has certainly moved well recently. It seems I am updating a lot on this pair recently. But it's with reason as we have had significant movement to report. Last time out we were looking for a pullback to the trend line and confluence of the demand zone created for another entry, but as we can see price had other idea's. We have had a huge push with GBP past couple of weeks. Currently we are 725 pips in profit for a return of 1:10 almost. Tp2 is not too far away, but I think we may get a pullback from here, just look at the Macd below. The strength of the last move to the left compared to this current move, 3 bearish candles along the way, whereas last time there was not one in sight. Remember to secure the bag, move your SL up into profits, I have secured 400 pips (yellow line). Let's see how this play's out for the rest of the week. GLIYF
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Good morning all, recapping on GBPJPY today incase some don't watch my video updates. Our buy trade on GJ has hit TP2 supply zone , literally by a couple of pips so that's a return of 10.5 R:R with a haul of 800+ pips. If you had a physical TP in place I hope it was hit, or that you closed it manually as it touched the supply zone . Not a bad result to start the year off with. We have some GBP news this week so I expect that to be the catalyst in the next movement for this pair. I'm looking for price to pullback to the demand and trend line for continuation on another buy. Will update again after the news to see where we are. GLIYF
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Lovely job on the last trade. Personally I look for deeper retracements from these positions but I can see why you're looking there for sure.
 
Good morning all, I have taken a buy on GBPJPY again. I closed my last position after the double top . We have seen price move down and touch into the demand zone . But as we can see we have had a couple of rejections from this zone. So I took the buy on today's candle open after yesterdays rejection wick again. Looks to me like the bull isn't finished just yet. Small position for this entry, i will look to stack another entry if we manage to break above the supply zone ahead. After the huge return on the last trade we can afford to try this position without the fear of FOMO costing us. GLIYF
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bax699 said:
Good morning all, I have taken a buy on GBPJPY again. I closed my last position after the double top . We have seen price move down and touch into the demand zone . But as we can see we have had a couple of rejections from this zone. So I took the buy on today's candle open after yesterdays rejection wick again. Looks to me like the bull isn't finished just yet. Small position for this entry, i will look to stack another entry if we manage to break above the supply zone ahead. After the huge return on the last trade we can afford to try this position without the fear of FOMO costing us. GLIYF
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It would be a good entry. The price breached that trendline and had a bearish correction. A bullish reversal at the support zone should attract the buyers to go long. Thanks for sharing the chart.
 
Agree with the bullish sentiment but I personally look for deeper retracements before expansions for maximum discount.
 
Last trading day of the week today, unfortunately ending it with a SL hit on GBPJPY . But that's ok as I knew it was a trade on the riskier side of things. Ideally it is usually better to wait for a deeper retracement in the pullbacks, but with JPY pairs you can never really tell as they are a risk on/off asset, so unless you try your idea's you will never really find out. That's where our risk management comes in to play. Anyway on to the next setup. The next point of interest is at the demand zone here which pushed through previous supply. With a confluence of the moving average for dynamic support, we could look to possibly buy from this area. Wait for our signal candle first as always, as it's still possible we could re visit the big demand zone below to complete the M pattern. Will update again once the position becomes viable GLIYF

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