Gbp-Jpy Trade


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Current Gbp-Jpy trade.

Analysis: 

-Daily frame primed in bull mode, wait and watch for dynamic and static S&R to be breached. Pattern = Inv H&S

- S&R breached, first entry taken.

- Wait and watch to see if a second entry could be taken, again waited for breach of the bull flag and rising channel. 

-Needless to say Daily, 3H, 1H and 15min all lined up for the long. Spoke about this trade before it happened and fired a "shout out" to place this pair on the watch list for longs. Hope some of you caught some "pipage" on this pair. ISS applied. 

 

Note:

Analysis is helpful to share and thats what the site is about, amongst other things, but we trade our own plans. I also had a few other pairs on the watchlist which have not…

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AudNzd


1498376?profile=RESIZE_1024x1024 I entered a trade in the Aussie Kiwi last night based on a 5 sec scalp.(I will add lower time frames to this post) The reason for the trade is as follows: 

We double topped within this NTZ on the 13 April just below 1.0850 and had 4 attempts to push past the lower bound of the double top (market with pink line on 1 hour chart). 

I realised we had a AuD red news event which had the possibility to fuel the move I had already entered. 

Entry was taken via 5 sec Head and Shoulders EPR at the previous lower bound of the 1 hour double top (pink line). A sharp move down after the H&S took out some key short term levels on the 1min and 5min, this gave me my entry as shown with the downwards arrow. 

Attached are 3 hour, 1 hour, 5 min and 1 min charts. (I wanted to attach the 5 sec chart but for some reason I can't scroll…

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GbpAud Trade


Currently long this pair from earlier on in the day. The 2 white arrows at the double top area had bears sighted with EPR. I Was looking for a push down past the yellow line in the sand and a failure of the triangle support. 

This idea was scrapped and the pair was back on the shelve for a while until I had a clear view. Once we broke out again and retested the 2 arrows price did not reverse hard and make a charge for the last support area. We formed a bull flag, once the EPR of the flag came in my thought we're a test higher and a run of the stops above the white arrows. I had a break out order Buy Stop in place for this move. 

Lets see how it plays out.

All the best forexmospherians, Jr.

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EurAus


Long (sim) EurAus. Longer term Inv H&S at the low. A larger H&S highlighted in the blue triangle will of brought shorts into the market and stops placed at the traditional right shoulder or above the head. With the failure of this pattern in the triangle (stops getting run) allowed for a decent push higher and good ground covered by the longs. 

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GbpAus


Currently running 2 positions (sim) long on GbpAus, Inv H&S at the low with a break long, mc and continuation for bull market. The break long in the GbpUsd has helped fuel the push higher. 

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GbpJpy


Got long (sim) after seeing a very aggressive bounce back after breaking the previous swing lows. Classic Inv H&S entry on the break of the neck line. For me if we can breach 138.94 area and hold, this could be a fantastic bear trap on our hands. 

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AusUsd


A trade that Im currently in (sim) is 2 positions short on the aussie (Day trade - more if I believe it will go). We have come in double topped at key resistance. This resistance in question has been hit many times and I don't really like trading off levels which have been struck numerous times but, we had a decent push down from the double top and my first position was placed @ 7713 and the second on the break of the highlighted box. Good trading folks

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UsdJpy


 hour and 1 hour look at the Jpy, H&S formed on the 1 hour and great moment created by the fed announcement, mc and continuation. On the 4 hour it looks like we might have a bear flag forming. A break below the bear flag and continuation would indicate bears in control. Waiting and looking on this pair at the moment. 

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EurGbp


I missed this trade on the break above the last low 0.08692 previous to the lower test of the channel, could we say this double bottomed here on the 15min? The arrows are not trades, just for me to reference back to. EurGbp has been on a mission of late, especially the choppy rally up which got top pickers stopped out in a good way on the break above the rising channel. A break of this bigger EPR ( bull flag possibly) I will be trying to get long. 

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Comments

  • Good Day,

    How is everything with you, I picked interest on you after going through your short profile and deemed it necessary to write you immediately. I have something very vital to disclose to you, but I found it difficult to express myself here, since it's a public site.Could you please get back to me on:(mrsstellaabudheir@gmail.com ) for the full details.

    Have a nice day

    Thanks God bless.

    Stella.

  • Congratulations johnradical, featured member status is well deserved here with some interesting FX articles and posts.

  • Welcome to Forexmosphere John and glad you could join us.

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