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GBPJPY trade ideas

Lingrid | GBPJPY pullback TRADE. Short from RESISTANCE zoneFX:GBPJPY formed a double bottom at a key support level and has subsequently bounced off this level, after bullish divergence. The price is currently pulling back against the major bearish trend, as the market has been consistently making lower lows. Recently, the price managed to break above the psychological level at 190.00. Given this context, it is possible that the market will retest the recent high from Monday and the upper border of the channel where a sell signal may present itself. If the price hits resistance in this area, it could provide a trading opportunity for a continuation of the bearish trend, as bears could take advantage of this pullback. My goal is support zone around 189.50 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
8
GBPUSD : TrendlineTwo days ago, I posted the chart above. I mention the STRONG bearish channel. And I also mentioned that those lines I drew are NOT trendlines. If you ask me what happened now, I would still answer the same. But what do you think Trendliners would do now? Many would proceed to BUY because their favorite line shows them that the price is BULLISH. Buy and get fcuk. This is one of the biggest errors when using trendlines. a) Do they expect things to remain the same? b) Do they not think the line may have shifted? So, think again whenever you think of trusting your TRADE and MONEY with trendlines. Want to know what the new line looks like? Good luck.
Short
by i_am_siew
GBPJPY - Look for Continuation Short (SWING) 1:6.7!The market is clearly shifting, with bears taking control. We just need to wait for the price to reach the right zone for a continuation toward the nearest demand zone to secure profits. Let's see how the market reacts to this zone. Disclaimer: This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Short
by S-Fx_
CHART BREAKDOWN GBPJPY: Key Levels, Targets and Thoughts!Brief Description🖊️: The chart provides insights into critical market levels, emphasizing 1 essential supply zone: low-risk sell zone spanning from 190.100 to 190.175, respectively, is highlighted. Things I Have Seen👀: Important Support Zone🟢: Identified between 190.100 and 190.175 serving as a low-risk sell. Bearish Targets📉: 189.750: Possible retracement area. 189.500: Possible retracement area. 189.250: Possible retracement area. 189.000: Possible retracement area. 188.500: Possible retracement area. 188.300: Significant supply zone. 188.090: Liquidity area. What's Important Now❗ Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.
Short
by T4X_Trading