My humble noob prediction for GBP/JPY
Hai and good night from here
Key Elements:
1. Fibonacci Retracement Levels:
The 0.618 Fibonacci level at around 191.199 appears to have acted as a strong support level where price bounced back up.
The next notable Fibonacci extension seems to be around 203, indicating a potential future target based on this retracement pattern.
2. Green Zone (Resistance):
The green zone between approximately 197 and 198 could represent a significant resistance area. If the price moves into this zone, it might face selling pressure.
3. Arrows (Forecasted Movement):
The first arrow (pointing upward) suggests the possibility of a short-term rally into the green resistance zone.
The second, shorter arrow pointing downward suggests a potential retracement or pullback from the resistance before moving higher.
4. EMA 50:
The Exponential Moving Average (EMA) 50 could be acting as dynamic support. If price stays above the EMA, it could further confirm a bullish trend.
Potential Scenarios:
Bullish Scenario: If the price manages to break through the green resistance zone convincingly, the next potential target based on Fibonacci extensions would be around 200-203.
Bearish Scenario: If the price fails to break the resistance and falls back, it could retest lower levels like the 0.618 Fibonacci (191.199) or even the 0.5 Fibonacci level near 190.000.
Strategy Consideration:
Aggressive Entry: If you believe the price will break into the green zone, a buy position with a tight stop loss below the recent lows might be a strategy.
Conservative Approach: Waiting for a clear break above the resistance zone (198) before entering a buy position might reduce risk.
Key Elements:
1. Fibonacci Retracement Levels:
The 0.618 Fibonacci level at around 191.199 appears to have acted as a strong support level where price bounced back up.
The next notable Fibonacci extension seems to be around 203, indicating a potential future target based on this retracement pattern.
2. Green Zone (Resistance):
The green zone between approximately 197 and 198 could represent a significant resistance area. If the price moves into this zone, it might face selling pressure.
3. Arrows (Forecasted Movement):
The first arrow (pointing upward) suggests the possibility of a short-term rally into the green resistance zone.
The second, shorter arrow pointing downward suggests a potential retracement or pullback from the resistance before moving higher.
4. EMA 50:
The Exponential Moving Average (EMA) 50 could be acting as dynamic support. If price stays above the EMA, it could further confirm a bullish trend.
Potential Scenarios:
Bullish Scenario: If the price manages to break through the green resistance zone convincingly, the next potential target based on Fibonacci extensions would be around 200-203.
Bearish Scenario: If the price fails to break the resistance and falls back, it could retest lower levels like the 0.618 Fibonacci (191.199) or even the 0.5 Fibonacci level near 190.000.
Strategy Consideration:
Aggressive Entry: If you believe the price will break into the green zone, a buy position with a tight stop loss below the recent lows might be a strategy.
Conservative Approach: Waiting for a clear break above the resistance zone (198) before entering a buy position might reduce risk.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.