I posted GBPJPY Trade Plan on Dec 7th, in which I talked about the possible Buy opportunity from the bottom of the range.

Here we are today.

The price already bounced from WM1, and Stochastic is looking up on H4.

2015-12-09_16-53-29-GJ1

Interesting to see hourly Stochastic is also going up now.

On Hourly, the price broke 21EMA.  Thus we can expect the price to go up to 55EMA, or possibly to the next Resistance (185.00).

2015-12-09_16-56-34-GJ2

As a trigger, I would like to suggest to wait for the break of DPP (also WS1), and Buy this pair after the pullback.

2015-12-09_16-59-28-GJ3

The conservative target should be 185.00.    However, I thin this pair will be very Bullish soon.  Thus you could challenge up to 186.00 once the trade becomes profitable.

 

Hope this analysis helps you build your own.

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

 

 

 

4 thoughts on “GBPJPY Trade Setup (Dec 9)”

  1. Dimitar Ivanov says:

    I’ve been waiting on the set up for 2 days, and still managed to miss it. There was hommock and a double bottom on M15 chart. Also there was WM1 (reversal pivot).

    @ Thanks you for your posts YJ. You are helping me get better and better.

  2. Charles Williams-Stewart says:

    Thank YJ! you cam through again with yet another great setup! Much appreciated.

    1. YJ Baik - Forex.Today says:

      Thx Charles for your comment!! I appreciate it!

      YJ

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