GBPJPY - Weekly forecast, Technical Analysis & Trading Ideas

22 Oca

Midterm forecast:

• While the price is below the resistance 199.790, resumption of downtrend is expected.
  
• We make sure when the support at 182.782 breaks.
  
• If the resistance at 199.790 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  

Technical analysis:

• The descending flag taking shape suggests we will soon see another leg lower.
  
• A peak is formed in daily chart at 198.945 on 12/30/2024, so more losses to support(s) 191.884, 189.477, 186.231 and minimum to Major Support (182.782) is expected.
  

Take Profits:

1. 196.006
   
2. 193.510
   
3. 191.884
   
4. 189.477
   
5. 186.231
   
6. 182.782
   
7. 178.409
   

Total Profit: 3204 pip

• Closed trade(s): 1584 pip Profit
  
• Open trade(s): 1620 pip Profit
  

Trade Setup:
We opened 8 SELL trades @ 196.68 based on 'Peak' entry method at 2024-12-30, signaled by DTO.

Closed Profit:

1. TP1 @ 196.006 touched at 2024-12-31 with 67 pip Profit.
   
2. TP2 @ 193.510 touched at 2025-01-09 with 317 pip Profit.
   
3. TP3 @ 191.884 touched at 2025-01-13 with 480 pip Profit.
   
4. TP4 @ 189.477 touched at 2025-01-17 with 720 pip Profit.
   

67 + 317 + 480 + 720 = 1584 pip

Open Profit:
Profit for one SELL trade is 196.68(open price) - 192.632(current price) = 405 pip
4 trade(s) still open, therefore total profit for open trade(s) is 405 x 4 = 1620 pip
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30 Oca

İşlem aktif

H4: The price was rejected from the SELL ZONE limit level at 194.50.


H1: A head and shoulder pattern was formed, the neckline was broken, and the price was retested and rejected from the neckline at 192.55.