GBP/JPY long idea
in higher timeframe market is currently in uptrend in higher timeframe. when market when market hit the 30m imbalance demand go up significantly shows buyers are more in control , there was a 30m imbalance demand was left untested by the market so more likely chances are market after hitting 1h supply it will reverse back to that demand then i will look for some some confirmation to enter in that trade.
if market reverse to that demand before hitting that 1h supply then look for that 1h as a partial profit taking target above that all candle are efficient so if market break that 1h supply then i will look for the larger target(equal high)
key zone for entry:- 165.172 - 165.009
if market reverse to that demand before hitting that 1h supply then look for that 1h as a partial profit taking target above that all candle are efficient so if market break that 1h supply then i will look for the larger target(equal high)
key zone for entry:- 165.172 - 165.009
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.