gbpjpy outlook what excepted to happen next
- Thread starter adebayo
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What perplexes me in these charts is how do you come up with any legs farther than the first one? Even the first one should involve a lot of guesswork and be purely probabilistic, but the next ones cannot have any veracity at all.
As for the GBP/JPY, I look at its daily chart and see a double bottom pattern there. If (and that's a big 'if') the neckline gets broken through, I expect it to go up to around 169.
As for the GBP/JPY, I look at its daily chart and see a double bottom pattern there. If (and that's a big 'if') the neckline gets broken through, I expect it to go up to around 169.
Yes I agree I also saw w double pattern but if you also look at 4h time am also seeing that market is about to form M pattern right there,and what make me say the price may probably go downtrend is that my Ena 200 has touched the price and the price has reached its ranging resistance level and I still have my major support level down the price but what I have In mind is if price the price breakout the resistance level and retest is 100%break with chart pattern I will consider a buy and I also consider it may give us false breakout and sell back the range thanks
mr enivid have you can see gbbjpy is moving the way i predicted it its not by guess work at all if trader can do it anaysis from the higher timeframe then he/she will be successful in trading, and one more thing sir gbpjpy is moving on to create extended w pattern then from there we go bullish goodbye sir
Heh... The general direction of your prediction was correct - GBP/JPY went bearish. However, the first part of your forecast was for the pair to go down to 152 before January 26. It was quite far from what actually happened there:
