GBPJPY DROP
GBPJPY good time for a nice short
Distribution phase
Structure level test
Supply zone and OB that caused nice BOS will get mitigated
Imbalance
Clear traffic
Descending trendline 3rd touch will provide great liquidity in the form of a stophunt combining with buy-stop orders from break previous high inducement
Entry at 157 will provide also liquidity as retail will go long on this pair
Take profit at 153 as next major structure level with MA200 and daily demand
Good luck
Distribution phase
Structure level test
Supply zone and OB that caused nice BOS will get mitigated
Imbalance
Clear traffic
Descending trendline 3rd touch will provide great liquidity in the form of a stophunt combining with buy-stop orders from break previous high inducement
Entry at 157 will provide also liquidity as retail will go long on this pair
Take profit at 153 as next major structure level with MA200 and daily demand
Good luck
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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.
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.