As expected per my post of last week, the pair was not the ‘smoothest” pair to trade, but not unusual for this pair! It found support at the 147.50/77 support closing just below the 150.00 resistance on Friday. I did not trade this pair last week as I’m waiting for a re-test of the 150.00 handle and perhaps the Japanese election will give us this move (or not!). However, at this point I’m still bullish on the pair and if it breaks 150.00 our next level is 152.00 area of resistance. As long as the pair can hold 144.70/145.00 as support I see this pair moving to the 160.00 area, but this will take time. I will not consider selling this pair until it breaks the 144.70/145 support zone.

GBPJPY - FOLLOW UP 22 OCT

Source: QUEEN OF POUND

7 thoughts on “GBPJPY – FOLLOW UP – 22 OCT”

  1. Kash says:

    Hi Maryna, on my last few posts my charts would not load…are you the moderator and do you know why my images are not being uploaded? Hope you are well and deep in the money! Kash

    1. Maryna says:

      Hey Kash! Great to hear from you again. LOL, you made me laugh thinking I’m the moderator. No, there is no moderator for this site and I use it the same as everyone else.
      I’ve also had problems uploading charts before and started using the “sign in” with Facebook option it gives you on this website and no problem since signing in with FB. Give it a try.

      Hope you are doing well Kash!

      1. Kash says:

        Hey Maryna, great to hear from you. I don’t use FB. It worked for me before with my usual login. Anyway, my trading has improved out of sight simply by employing S/R on my daily charts so I can see why you swear by it. Stay in touch, K

        1. Maryna says:

          Good to hear Kash!! My “blank/naked” charts with S/R levels works for me, but most importantly, is to choose a strategy that works and suits your style of trading. Just a note, I only use the longer time-frames i.e. Daily charts/H4 to analyse, but I take my trades on the lower time-frames as I’m an intra-day trader.
          Have a great trading week!

  2. Kash says:

    I’m a fan of the S/R break followed by a retest for a value entry trade…like GBPJPY retesting at 147.70-147-85 and AUDUSD at 0.775 and placing SL below last daily swing price. Works more effectively than Pivots in my experience. Wishing you all the best for the trading week too!

  3. Kash says:

    …or SL above last daily swing price depending on the trade direction

    1. Maryna says:

      I don’t use SL – I use alerts as only I will decide whether I want to take profit/loss or enter/exit a trade. Too often the market will take trades out or in that can lead to early entries/exits/profits/losses when one uses a hard SL or TP. Of course, using the alerts will only work if you can hear them on your phone/laptop, but for me using alerts are working extremely well and I don’t have to watch the charts constantly. I also don’t use pending orders for the same reason.

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