Oh look, price landed. What a surprise. NFP tomorow can induce price .
Great analysis, the TL maintained and we had 88.6 percent fibo retracement, tomorrow's mad friday and whatever is possible.Originally Posted by ;
1 Attachment(s) If I may say a few things...I don't wan't to hijack the thread
You will find two Trendlines in Descending station, first one which was broken a few days back, and I believe the next one, that's more parallel to the Lower descending trendline and might be significant in next days. Price only went North until the first one. Accidently from the proximity was one of the 4 very important EMAs for this pair, The 20 EMA.
Price action now is Bearish Pin Bar, but as it's inside of the Price traffic it generally has the inverted significance. As it was stated, tomorrow is a NFP and anything.
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That is everybody's thread, every analysis of GJ is welcome, thanks for sharing with usOriginally Posted by ;
Let us wait n watch what NFP brings. .
NFP was great to us now, not too crazy up down lol
The TL held nicely and GJ bounced and we've got a 4h close above 4h gann hilo and 4h QQE cross upwards, there is great momentum upward towards the 61.8% fibo, would love to see a close above the daily 50ema (green line) because it's been a tough resistance to cross because beginning of May.
http://img11.imageshack.us/img11/9701/45442061.gif
2 Attachment(s) Where the price is going (my opinion):
On the Daily chart we needed an extremely Bullish Bar, many times following day we see some return to approximately one third or even half of the Tavern. In this case I would like the price to come down a little and test the Trendline since it closed over it and right at 20 EMA. In case the test will probably be OK then we have yet another Trendline to cross. Early entry could be 122.2 - 122.3 place with 25-30 pip SL however, it al depends where the price is going to open and how it will behave.
On the Weekly chart we have yet another Bullish Pin pub, exactly like the week before, except this week's one may likewise be called Inside Bar. Considering that the price does not really have a momentum nonetheless (the large motions were caused by intense news events rather than by momentum itself) we can not be positive price would fly North. It is quite possible to get a second Inside Weekly Bar. If however price will fly away North from 122.2-3 area then usual GBPJPY Weekly move of 230 pips could property at 20 EMA Weekly chart, at 124.7 area.
That is just my opinion, I'm not giving any type of signs and I never will, everyone must decide by themselves how to trade and everyone has to take responsibility for himself.
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We only had a 38.2% fibo retracement from last months rally and price retraced down to daily 5sma and DP, price remains over 4h gann, daily gann, and 1h/4h 50ema, all good indiions of bullish continuation but who knows. . If 1h QQE crosses back upwards and we receive a 1h candle near over 1h gann hilo, I would anticipate price to go up to 124.50 atleast
http://img809.imageshack.us/img809/8443/33748246.gif
Trade at your own risk!
Huh, we just had 61% retracement Karmostaji, can it be true that with such big retracement we usualy get big move in the oposite direction?
It's nuts lol, to be honest with you, I really don't enjoy this Massive retracement we just had, I do not understand what to expect now, gotta wait and watch GJ see-sawOriginally Posted by ;