GBPJPY Ready to moon? or not

[Leebax]

Since i last looked at GJ i was looking for it to hold at the previous low for another swing upwards. It didnt quite hold instantly but as price closed below, but straight away the next day we surged back above the 127 level. Closed above and 2 bullish days kept it alive. currently on a small bearish day candle but price is getting squeezed into a corner, ive included the 4H chart today to look at current price action and as you can see we are making higher lows. We just need price to break out this little squeeze to make a new higher high then we could be on for a nice little bull push for some pips. Obviously the break below isnt off limits so watch out and be careful. i think i will wait for that first higher high then buy on the next pullback, as if a bull is real there will still be plenty of pips to be had. New week begins lets make it a good one. GLIYF

 

[Leebax]

Well revisiting our friend GJ from mondays analysis. I suggested a buy for some at the price of 128.200, ive included the chart form monday so you can see, and what do you know we are at wednesday and we have gained over 500 pips. So well done to anyone who took the advice and made that amount of killer pips on whats only been two days essentially. As i thought what would happen we have created a new higher high. Ill be looking to buy on the next higher low made in price for another push higher. But as we know the world is in a mess right now so risk management is a must in these conditions. Trade safe GLIYF

 

[Zack King]

45 minutes to go but looks like a nice daily rejection candle through the down trend line.
Hopefully a sign we are about to get some movement!
View attachment 15151

wow good stuff here

 

[Leebax]

If you follow my setups and charts then youll will of seen this week i concentrated mostly on GBPJPY . We visited it a couple of times as i was looking at the buy from previous areas we bought from before. i first looked for the buy at 128.2. We got the first part right, and now i will blow my own trumpet as each level and each one of my circles was hit perfectly. Check the previous charts and youll see.
If you bought on the original call then you will be 640 pips up this week. If you waited for the breakout and bought at the support from the first blue circle then you will be up 388 pips this week. Both with good R:R and tight stop losses. Price hit the aim for the top blue circle so good time to take profits. The next trade i will be looking for price to break above the blue circle then come back for support again for another push. Same as previous levels. Not a bad week from one pair at all. Enjoy the rest of your weekend

 

[momo3HC]

Awesome set up and realization mate. Cheers.

 

[Leebax]

Good saturday folks. Hope your trading week was profitable. Should of been if you took the GJ profits. Was a good time too as weve moved sideways this week. i think its getting ready for the next push upwards. Price has held strong right on this support shelf, not even wicking below. Two positions available for me, one is at current price but a little riskier as we havent broke above the primary long term uptrend, but offers more R:R. The next positon would be absolute prime entry, break back above the trend, witht he confluence of the retest, the 0.5% fib and 136.000 support level . This would still offer a good amount of pips with a little extra confirmations. GLIYF

 

[momo3HC]

I personally prefer to wait for a solid confirmation for the previous trend line break.