Daily Analysis | GBP/JPY | 29 of November

Posted 29 November, 2017

The GBP/JPY has formed a variation of a V-shaped pattern named "Diving Board". The diving board is a reversal pattern that forms after the price makes a flat base than drops down with a high momentum that is followed by a straight-line run-up. V-shaped reversal is created, and the price proceeds up. At this point, we can see two POC zones. The first POC is 149.00-149.10 (D H3, W H3, Order block). Because of the strong trend that we can spot, the first POC zone could show a rejection if the price retraces. If we see a broader retracement below POC1 than pay attention to POC2 (50.0, EMA89, W L3) 148.35-148.66. Rejections from any of POC zones should target 149.90 and 150.47.


W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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                                                                                                                 By Nenad Kerkez | Admiral Markets

 

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Previous forecast

04 December, 2017 11:35

← Daily Analysis | USD/JPY | 4 of December

Following the possibly most substantial US tax overhaul since the 1980s, the US Senate gave a significant boost to the USD last night. The corporate tax rate should be cut from 35 percent to 20 percent. The USD/JPY opened much higher than it closed on Friday, making a runaway gap that hasn't been closed as of yet. 

Daily Analysis | USD/JPY |  4 of December

Next forecast

28 November, 2017 16:37

Daily Analysis | WTI Rooftop Pattern Continuation if D L3 Breaks | 28 of November →

The WTI, went as planned as we could have seen in my previous analysis. Today we can see a rooftop pattern shaping up that is coming from W H1/ D H5 confluence, and it is being held slightly above D L3 camarilla pivot. We can see the rooftop shape an need to be ready if breakout happens. For positional trades watch for POC zone 

Daily Analysis | WTI Rooftop Pattern Continuation if D L3 Breaks |  28 of November
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