Great idea Majd. Though I have to admit that where I come from this is the norm. We post our analysis and then make calls ahead of time or in real time and make the whole process completely transparent. I'll do the same here although I'll be out of ...

Daily GBP/JPY analysis

Excellent observation! I was looking at this monthly not too long ago and noticed a level at 249.17 back in August 1992. Based on that and previous action, it seemed plausible that a reversal with large implications was nearing. I called a large ...

Daily GBP/JPY analysis

Hi Qpip Here is some friendly advice. Know where to enter, where to place your stop and know your target. Then let money management take care of the rest. Don't trade on hope and know that this game is all about probabilities. If that doesn't make ...

Daily GBP/JPY analysis

Just got back to check my trade and it didn't reach target. The pattern was bearish and instead of reversing at the 161.8 level it did so at the 88.6 level (which is more of a Gartley). Stops were placed just below the B point when the CD leg ...

Daily GBP/JPY analysis

I'm in agreement. There are fib levels, projection points and S/R lines all around 244.00 so I think it will offer resistance for a few days. Once the point is established, it will provide a good line to scalp from and when broken a good reserval ...

Daily GBP/JPY analysis

Could do but I'll be stopped out way before then and probably in a reverse trade. At the moment my stop is my trigger finger but hard stop would be below 241.00 (GJ) and 13,330 (DOW). Z

Daily GBP/JPY analysis

This trade is based on a harmonic pattern and the projection is the 161.8% of the XA leg (which comes to about 243.70). This is a bearish harmonic so it should reverse around that projection. I'll post a chart when I get some time but lets wait and ...

Daily GBP/JPY analysis

Long here at 241.89 Target somewhere around 244.00 Also long DOW at 13,385

Daily GBP/JPY analysis

I think I might stay out until London session closes.

Daily GBP/JPY analysis

What are your thoughts Majd?

Daily GBP/JPY analysis

Price around 241.70 is yesterday's support level. It is still holding and I'll short when convincingly broken. Z

Daily GBP/JPY analysis

My view is to wait until either 243.20 breaks for a North move and then reverse at 244.00 to 244.30. Alternatively, wait for 241.70 to break for a South move. Until then, I think price will be stuck in a washing machine. Z

Daily GBP/JPY analysis

I agree. I don't think longs are confirmed until 243.20 breaks. It could still go south here. Z

Daily GBP/JPY analysis

Next long test will be 244.00 to 244.30. So my trading plan is to go long should 243.20 break and then short at 244.00 (add at 244.30 if it hits). There are quite a few things lying around there so that should present reasonable resistance (enough ...

Daily GBP/JPY analysis

DOW is forming a Diamond top so a fall could be on its way Z

Daily GBP/JPY analysis

OK, took some off here for +40 and set stops to break even +1 on the rest. I'll let this one ride. Some people have to lose but it aint me. Z

Daily GBP/JPY analysis

I'll give it a bit more than that

Daily GBP/JPY analysis

Shorting here at 242.80 and if it breaks then reversing long

Daily GBP/JPY analysis

You mean the reverse head and shoulders? There are others more clearly defined.

Daily GBP/JPY analysis

Bulls and bears playing tug-of-war. Can't see any reason to enter just yet.

Daily GBP/JPY analysis