Category Archives for Free Forex Trade Setups
*Update* GBPJPY Price Action – Where do we go from here?
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By
Justin Bennett
- / May 2, 2014
From yesterday’s post, the GBPJPY continues its march upward. The price action breakout from this wedge looks to be confirmed, however today’s close should tell the whole story. So where do we go from here? See the weekly chart below to find out why I’ve drawn another price action level at 179. GBPJPY weekly chart…
Continue ReadingPrice Action Setups – GBPJPY, CADJPY and AUDNZD
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By
Justin Bennett
- / May 1, 2014
The GBPJPY continued its battle with resistance today. However, it does appear to have broken near-term resistance at the 172.8 level. In typical fashion of the GBPJPY, the price action on the 4 hour chart has been fairly choppy. Nonetheless, the daily close represents the highest since January 22nd of this year. The CADJPY put in […]
Continue ReadingGBPJPY Pin Bar Setup is Gaining Traction
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By
Justin Bennett
- / May 1, 2014
From yesterday’s post, the GBPJPY 4 hour pin bar is now pushing through resistance. If the pair can close above the 172.7 level today, we may be looking at a larger move up to the 179 level over the next few weeks. See the weekly chart below. GBPJPY weekly chart…
Continue ReadingPrice Action Setups – GBPJPY and GBPAUD
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By
Justin Bennett
- / April 30, 2014
GBPJPY formed a pin bar today, however the pair is still fighting to break through that key resistance around the 172.70 level. This wedge, which formed earlier this year, comes after a strong uptrend since 2012, so a break to the upside is favored. The coming days should prove interesting as we’ll watch to see […]
Continue ReadingGBPJPY Pin Bar – 4 Hour Chart
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By
Justin Bennett
- / April 30, 2014
GBPJPY just put in a 4 hour bullish pin bar off a key level. The daily chart is also at the very top of the upper range on the wedge that has been forming for the past 3 months (see daily chart below). We’ll have to see how the rest of the day plays out, […]
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