GBPJPY surges up!

Good evening ladies and gentlemen

Half way through the trading week. I hope your profits have not dried up with the lack of sun! Come rain or shine, a mechanical approach is the name of the game!!

So to the GBPJPY and yesterday I asked where price could be heading to. Could we see a reversal back south or could the Bulls continue to outmuscle the Bears? And it is the latter that happened crashing through the more aggressove Fib Breather level and now sitting at the VI and S and R cluster, which I also mentioned yesterday.

On the Daily chart, altough we had a change in trend to the down side after the confluences metioned last monday, the long term trend is actually still up and so it is possible that the saying "The Trend Is Your Friend" could be holding true once again!

Below I have the 4 hour chart and we can see that the convergence, 123886 and the spinning top were the catalyst for the surge in price back in the direction of the trend. Now the question is can price break through the current cluster it is sitting at and move up wards and onwards? RSI is coming into the OB zone while Stochastics is already there with the signal lines looking interesting!

As always do your own analysis.

I will leave you with this thought from Jim Rohn who was Anthony Robbin's Mentor, "If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

Where are you going GBPJPY?

Good afternoon ladies and gentlemen

My update is going up a little earlier than usual as I have a packed evening ahead of me. I hope you are all having a profitable day so far.

So to the GBPJPY and we were left wondering if price was being forced into a squeeze. Below is the 4 hour chart and we can see that price actually shot straight through the trend line and is now retesting the Fib Breather level. RSI crossed over the midline, which it was threatening to do but is facing back down and look as if it may cross bacl below the midline. MACD has been doing higher highs but could we now see lower highs to indicate a move south? Price is currently doing a spinning top but we still have over an hour before the next bar opens on this time frame so we just have to wait and see what happens. Could we see price hit a more aggressive Fib Breather level or even a retest of the VI? I will leave you to do your own analysis!




I will leave you with this thought "Don't step into the river without knowing it's depth!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY heading into a squeeze?

Good evening ladies and gentlemen

As the curtains come down on the first day in the trading week, I hope you can look back on it in a positive light. Losses are all part of the game and all part of progression. Always look back to check your analysis was correct and if it was then it was just market behaviour. The key is to make sure that your winners cover the losses and more!

So the GBPJPY ended the week behaving correctly according to out technical analysis. Price reversed back in the direction of the major trend at the conservative Fib Breather level which was all taking place ont he 4 hour chart.

Price came down to retest the S line, failed to break through and is now heading back to the trend line and is now at the figure. Could we see price now being forced into a squeeze and forced further back down in the direction of the trend or could the market decide other wise. All we have to do is wait and see and in turn let it dictate what action we should take. Of course check the indicators. RSI is below the midline but hovering close to the cross over.




I will leave you with this thought by Benjamin Frankin, "An investment in knowledge pays the best interest!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY fights back but for how long?

Good evening ladies and gentlemen

I hope it's been a fruitful day in the market for you all!

So to the GBPJPY. Today's update emphasises the need to draw in your S and R lines as part of your basic technical analysis! Price fell steeply yesterday shelling out just over 550 pips to who ever was prepared to take the ride. My question yesterday was how much further would price drop and on the 4 hour chart below you can see that it barely spiked through a strong S and R level before being held back which in turn caused price to spend most of today fighting back Bullish. In between S and R levels we use Fib Breather levels to tell us how far price could retrace before further moves, in this case South! Price is now sitting at a cluster of a Conservative Fib Breather Level, the S and R Zone and a RN of sorts! As we know as SM, price never moves in a stright line so the question is would this edge behave in our favour? As always all we can do is wait for the market to unveil itself and inturn gratefully and mechanically accept what is ours!

Are the indicators in unison with our analysis? I will leave it to you to do your own analysis!

I will leave you with this thought by the Great Nelson Mandela "It always seems impossible until it's done!"

Till tomorrow

Abundance ia your Birth Right

Zaheer Anwari

Ever seen a GBPJPY waterfall? (Check the 5 min chart!)

Good evening ladies and gentlemen

Half way through the week and I hope it has been a productive one so far. Weather still acting dodge. I would also like to take a moment to say a few words about the King of Pop, Michael Jackson. Apart from being the best entertainer ever, His contribution to humanity was second to none. He was an inspiration to me. Thank you M.J.J!

So to the GBPJPY and let's see how she has behaved today. Over the last two days price had broken through several obstacles which may have prompted certain traders to unleash the ESLT depending on stratergy and TP. If you enetered Short you may find yourself in healthy territory now with a move of well over 350 pips. Thank you very much. Price has currently found S at a previous S level.

Below I have the 4 hour chart. MACD is doing higher lows but RSI has entered into OS territory.

Where is the next S and R level? How much further could price drop? Any Fib Breather levels to be concerned about? Could this be a FBO and see price reverse above the S level which it currently seems to be doing as the Bulls have pushed back the Bears around 50 pips while writing this update?!

I will leave it to you to do your own analysis.

I will leave you with this thought from none other than Mr. Michael Jackson and which very much relates to my 2 mentors "The greatest education in the world is watching the masters at work!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY back under the microscope!

Good evening ladies and gentlemen

I hope you have all had a wonderful start to the trading week despite the inconsistent weather! As much as sunshine plays a part on our emotions, the weather should not affect our approach to trading and take us away from our TP!

So this week I thought I would follow a currency which I haven't done an update on for a while but seems to be displaying some interesting moves as of late. That would be the cross currency of the GBPJPY.

So below I have the daily and we can see that price has made a fight back to a fib breather level since the turn of the year after being in free fall for the best part of a year and a half. We can see a clear divergence on MACD with a 123786 at the RN. With the edge in our favour, price behaved as expected with those C.O.E and has since dropped crossing through the VI on its way!

RSI also behaved according and crossed below the midline. MACD is now below the midline too! Could we see higher lows to indicate further strength south? Could we see price use the VI as resistance for a further drop?

Below is the 4 hour chart which show action in a little more detail. I have marked the S and R lines where price has been going sideways. Since yesterday price has broken through the S line and the VI. Price did come back to retest the S turned R line, failed to break through and has since moved south. What are the other indicators saying? I will leave you to look at them and do your own analysis!

I will leave you with this thought "Most of the structures in our minds was given to us as a result of our social upbringing and based on choices made by other people. In other words, it was instilled in our minds, but did not originate in our minds." Are you bringing any of this "conditioning" to your trading?

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY - Thank you and signing off!

Good evening ladies and gentlemen

I hope you all had a wonderful weekend. Not long to go before the opening whistle so I hope you are all recharged and well rested.

This is the update I was supposed to put up on Friday but due to a jam packed day didn't get a chance to. So lets see how the GBPJPY finished up the week. I left with you with a question on Thursday which was if price was doing a retracement, where would we anticipate it going to. I didn't mention, but I gave a clue with a trendline I had drawn in on the 4hr chart. This trendline in deed held strong rebounded and spent friday making up for the lost ground.

Below is the 1 hour chart. So what next for this cross currency, can we expect a further move south or a retest and break of the RN? What is the direction of Big Brother? What are the other indicators saying? Remember the market is always correct. All we can do is do our own analysis and trust it according to a stringent set of rules that make up our own personalised TP. I will leave you to do this and to get ready for the week ahead. I think she is worth a position on your watchlist don't you think??!!




Alright Rich. I hope you had a top weekend sir. Give me till tomorrow to do your riddle please. And my answer was indeed a trick question. I don't drink alcohol! Sorry silly riddle I know!!

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY - She kept on going but has she had enough?

Good evening ladies and gentlemen

I hope you all had a prosperous day in the market, whether it be financial or that your technical analysis has taken a step forward.

So to the GBPJPY. Yesterday we left her in a very interesting position on the 4 hr chart where price was reapproaching a fib breather level. Certain indicators were saying that price was likely to continue and they were not wrong. Price shot staright through to a R turned S zone and since then produced a bullish engulfing candle and reversed. on the 1 hr chart, what confluences can we see that could have warned us that a reversal may be on the cards?

Price moved around a whopping 500 pips in 3 days so with all big moves there is usually a period of consolidation before a further move in that direction. The daily is showing a bullish candle. So given that, what are we witnessing unravelling before us?

On the 4 hr price is at the VI and MACD is doing lower lows with a cross over of the midline looking a possibility. Stochastics is also looking interesting with the signal lines crossing over and OS. RSI is heading up but not yet crossed over the midline. What are the same indicators saying on the 1 hr chart? If we are seeing a retracement where will it go to? I will leave it to you to determine what may (not will!!) happen next! We will look at the 1 hour chart tomorrow to check if our analysis was correct!




Alright Rich. Hope you are well my good man! I had a feeling my answer was wrong. OK so the film is The Rock. Again I haven't seen it but apparently it has a nice Ferarri!

My riddle for tonight is what's my favourite alcoholic drink? A glass of red wine or a snake bite?

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY - She has kept on going!! But (again) for how long?

Good evening ladies and gentlemen

I hope you all had a wonderful day in the markets.

This update is going up a little earlier than usual as I have an appointment to attend. So on our watch list for the week is the GBPJPY and yesterday we were left pondering how much further price would drop. We had a conservative fib breather and the VI standing in the way on the 4 hr chart. Price continued as we anticipated and even broke through the VI but then found support at a more aggressive fib breather level (which is also in close proximity to a R Line) before reversing and doing a long wicked doji. At the time of writing this price had made another surge south so we may see even further moves. Nice!!

So what does this all hold for the future? I can't tell you but as SM we can use our technical know how to anticipate best and act accordingly. At the moment MACD is starting to make higher lows but stochastics is now oversold but the signal lines have yet to tell us anything significant.

If you are a regular reader of our sister blogs you will also have seen an update by Jedi Master SJ on the same currency pair. The trendline was broken which would have provided healthy pofits for the semi-aggressive swing trader amongst us using wonderful the ESLT.




So once again the question has to be asked "What's going to happen next?" If these obstacles are broken, there is an open road to the next round number!!! I will, as always, leave it to you to do your own analysis. We will catch up with it all again tomorrow.

Alright Rich. Spot on man! The answer is indeed the letter M! I think the answer to your riddle is Transformers.

My riddle is "What is your best friend when trading?"

Till tomorrow

Abundance is Your Birth Right

Zaheer Anwari

GBPJPY - Will she keep on going?

Good evening ladies and gentlemen

I hope you all had a wonderful day in the market and I completely agree with my fellow blogger's comments this morning about the mood and the weather. What ever you put out there you attract so any negativity will attract negativity. With trading, come rain or shine, your vibes should be positive but your appraoch should be mechanical. This will give you the best chance of continual success in the market. Nice one Rich!

And Rich we must be on the same wavelength as I had decided to stay with the same currency pair too for this week! Great minds think alike hey!! So regular readers will know that my choice for the week is the GBPJPY. Yesterday we saw a huge move south at the tune of around 350 pips. Seeing as we had been waiting and anticipating this move from last week, as SM we deserved the fruits of our "SMART" earned labour! So give yourselves all a pat on the back, scream, shout, do what you have to do but at the start of play this morning that calm mechanical approach should have reappeared!!

So the question I asked you was what wil happen next and after such a big move yesterday we should have probably expected to find price stabilising. And that is exactly what happened today with price oscillating between 146.40 and 149.50. Price is now heading back towards 146.40 which, on the 4 hr chart is a conservative fib breather level! Will we see another bounce off this breather or will price smash through? For the eagle eyed, there is a reversal candlestick pattern that may suggest a further move down! In terms of the VI, price has smashed through it on the 1 hr but on the 4 hr may hold strong and act as a support if price continues in the current direction!!




What are the other indicators saying?! As always, I will leave you to do your own analysis to determine what will happen next.

Spot on with your answer Rich. I am well impressed. I am a huge Manga fan and that is an all time classic. The answer was indeed Akira.

Oih mate! Where my riddle at? Hmmmmm....

My riddle for today is "What comes once in a month, twice in a millenium but never in a hundred years?"

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari

GBPJPY was worth the wait... but what next?

Good evening ladies and gentlemen

I hope you all had a wonderful weekend and managed to continue that into the start of the week with a great day in the market. We were spoilt here in London and around The UK with some beautiful weather and hope you were blessed with the same where ever you maybe.

So our currency pair over the last week was the GBPJPY and we were waiting for a certain setup to materialise and with some patience and persistent it did, with a move of over 350 pips today.

Below is the monthly chart and we can see that a recent 123886 in a long term down trend at the possible end of a period of retracement may have had an influence. Is a convergence or divergence necessary if we are following the trend?

Below is the daily chart which confirms the move we were waiting for. The 123886, the figure, the divergence and the candlestick were worth their weight in gold and you would have been handsomely rewarded if you had purchased your tricket for the ride. Stochastics also got in on the act!

The question now is how long can we expect this reversal. Is this a temporary resistance held by the figure or will we see a retest in the future and a possible break. Below is the 1 hr chart and early signs look interesting including an interesting candlestick at the end of play today. Day Walkers may be grateful for the fruits of their labour for the day and may chose to tighten stops if they haven't chosen to do so already?! On the contrary, the VI seems like it is holding strong!?

I will leave it to do your own analysis to determine your next moves! Good luck!

Alright Rich. Yeah I had a sound weekend mate. You?

The answer to your riddle is A Few Good Men?! I haven't seen it but my cousin has!

My riddle is "But Someday we ought to be able to.... as it has already begun!" Which film? Now this is difficult but a classic none the less!

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari