GBP/JPY Intraday Bearish

1 nov 2017

Morning Traders!

Yesterday we saw a very strong bullish impulse in the pair, breaking a major H1 resistance level (150,000). Today the pare is beeing traded just below a major H1 resistance level (arround 151,200). In addition we can see what seems a bearish divergence between the price and the RSI.

Today I am looking for the price to bounce from the major H1 resistance level (arround 151,400) and retest the broked resistance level (151,000), now as a support level.

So today i will be looking for short positions in a M15 Time Frame.

Good Trading Traders!

1 nov 2017

Nota

Correction: Retest the resistance level (arround 150,000 not 151,000), now as a support level

1 nov 2017

Nota

Doble top formation on M15 TF? Wait for the break out of the bullish M15 trendline as a confirmation.

In addition there are 2 posible targets:
1. 50% Fibo retracement of the last H1 bullish impulse (150,500).
2. 61,8% Fibbo retracement (150,200) that is near to the last major H1 breaked resistance level ( now a support level ).

1 nov 2017

Nota

Trade not valid anymore as it has clearly breaked the Major resistance (151,500)

2 nov 2017

Nota

Morning Traders!

In my opinion the analysis that we did yesterday is still valid. Price is on a major H1 resistance level (arround 151,500). Price tried to break it, but at the moment it was clearly a false break out. So i still waiting for a bounce from that resistance level to reach the 61,8 fibbonacci retracement level at arround 150,200 which is so close to the next support level.

Still looking for sells at M15 TF.

2 nov 2017

Operación activa

Finally we have a confirmation! Be carefull with the interest rate desition at 13:00 CET. I will close the position before that time.

2 nov 2017

Operación cerrada manualmente

Close at Break Even. Price was so slowly becouse of the interest rate desicion at 13:00 CET. Too risky for me.