GBPJPY Bold Move

8. März

You know the drill, you are in the Nen Zone. You have a water pistol and 10 bullets left. What do you do?

We have this scenario where I developed the red zone on the bottom right, considering the price might not go inside it at all. The rectangles highlight a potential ladder for the price for the future, regardless of the fact that it looks so bold it couldn't possibly become reality. Nevertheless in case this Alien scenario invades us and controls us into the unknown, we must be prepared. Just in case this one shoots for the stars, we need to hunt for potential long entries. Great you say. Where are my rectangles? My slingshots? My catapults? Bad news, if you look carefully on this snapshot and taking into account the scenario pointed in the beginning of this ridiculously wrong long paragraph, there aren't many opportunities left for potential signal setups pivot reversal inflections turnarounds and of course pirouettes/

Don't worry, this is not encrypted. I will lay it all out for you with all main scenarios.

1. Bingo at the small purple rectangle. Retrace, reverse, eject, and shoot for the moon. Watch out for the top green curve for any turbulence and bumpy ride.

2. Bottom green curve. What do we have here? Is it playing dead or is it going to resurrect? Watch for bullish candles and optimism and momentum for any entry signs.

3. Marked time stamp. My personal favorite. If it pivots near this vertical line, it could definitely rise from the ashes of the bears.

4. Four. What are you waiting for? Thanks for reading so far. If the price reaches the pink long UFO of a rectangle and you are still out of the market, don't worry. We might make a pit stop to fuel in some more fundamentals drama in this racket. Call your friends. Let them know you're buying tonight. By the time the price reaches the green rectangle it is already over. The aliens won and your water pistol never had a chance.

5. If it reached the green rectangle and you haven't sold everything already don't blame me for your losses of profits which you didn't cash in when you were in the green or at break even. This is not financial advice or a free for all trading opportunity. This is Nen. Over and out.

PS> this was the beginning of this watermelon project.
s3.tradingview.com/snapshots/x/x8pEjhGM.png

8. März

Anmerkung

Candlestick shadow in the corner of the purple rectangle and a green candle but I can see this drifting towards 188.6 again eventually...

11. März

Anmerkung

Standing on the edge setup on the lower bound of the purple with a red to green pivot. Don't know if this level will hold, but if it does, it could springboard the melon to 189.37

12. März

Anmerkung

The high was 17 points below the previously mentioned potential target. It keeps trying to grind its way up but don't know if it will meet resistance at the 189.37 level. Let's see if it creates a higher low in this bullish attempt.

15. März

Anmerkung

The higher low was created with a pair of candlestick shadows followed by the continuation of the bullish mood. Week closed right at the "cross". We could see some bearish tones highlighted in this snapshot with the green target dots, in which case further analysis of the overall context would be required. This is not a case for the bears, jut a scenario that might happen and should be considered when deciding trailing exit strategy.

19. März

Anmerkung

The correction was much smaller with a stop and go at the marked price level. The green curve was immediately broken after the pause with the doji style candlestick. Currently we have touchdown in the red rectangle. Looking forward to see if there will be any other potential entry points for an attempt to go higher in concordance with any of the elements in the project.

22. März

Anmerkung

Landed on the intersection between the green curve and the pink rectangle. I have no estimations for projections for now. Better to wait for next week to come.

25. März

Anmerkung

Nice support found in this area with scenario number 4 activated after scenario 1 turned out to be a nice success with the reversal at the purple rectangle. The Bold Move reappears as bias and I think we might see the green one reached.

27. März

Anmerkung

There was news today that the BOJ is looking carefully in FX markets and is willing to intervene if things get out of hand. This might have (or not) scared a little bit the bulls, but I am not willing to write off the green rectangle scenario just yet. Theoretically for the BOJ to intervene, the yen must weaken even further than its current standing.

Currently the second touch and bounce (maybe just temporarily) at the pink long support zone. Let's see if the initial proposed concept of the red no go zone remains valid while also keeping an eye on the marked time stamp.

2. Apr.

Anmerkung

Nice bounce from the "no go" zone, but to be honest I have stayed away from yen pairs recently. Today was the third warning in less than 2 weeks from the BOJ regarding potential intervention. Don't know what the future holds, but I added another rectangle around 192 in case this has enough power to push higher, even though I am not necessarily expecting it.

3. Apr.

Anmerkung

I just developed these new potential steps for this pair and created a new idea with it. All scenarios envisioned explained there. The Big Arc could be a big one, but also the bottom cyan could also get interesting if the price slides towards it.

10. Apr.

Anmerkung

Hit on the circle, and support and resistance at the top and bottom edges of the white rectangle. Last update in this project, will continue in the other one.