GBP/JPY 1/22/2021 2:05 (DEMO)
GBP/JPY 1/22/2021 2:05 NO TRADE
Fundamental/Sentimental
Cot: Price action is mostly influenced by funds coming from the Japanese Yen but price action reacts loosely, delays and such. Maybe a few longs are still entering the market but funds could have easily changed directions. Longs followed by shorts possible
News and Events: No upcoming events for the expected life span of the trade that should affect anything.
Technical
Time Frame Analysis: Monthly: Have a squeeze, conflict between buyers and sellers, could be mistaken for an uptrend for sure. Candles indicate dying buyers market. Weekly: At a critical zone, pressured by the nearing trend line, buyers struggling to push up. Daily: Buyers have power moves, impulses but they’re being stretched thin. 4H: A lot of rejections, but buyers are trying to push.
Indicators: RSI is not helping very much, very neutral
Entry
Order: None
Position: None
RR: None
NOTE: Very little to go off of today, will wait for price to reach that critical zone and react accordingly. I don't like to force trades
Fundamental/Sentimental
Cot: Price action is mostly influenced by funds coming from the Japanese Yen but price action reacts loosely, delays and such. Maybe a few longs are still entering the market but funds could have easily changed directions. Longs followed by shorts possible
News and Events: No upcoming events for the expected life span of the trade that should affect anything.
Technical
Time Frame Analysis: Monthly: Have a squeeze, conflict between buyers and sellers, could be mistaken for an uptrend for sure. Candles indicate dying buyers market. Weekly: At a critical zone, pressured by the nearing trend line, buyers struggling to push up. Daily: Buyers have power moves, impulses but they’re being stretched thin. 4H: A lot of rejections, but buyers are trying to push.
Indicators: RSI is not helping very much, very neutral
Entry
Order: None
Position: None
RR: None
NOTE: Very little to go off of today, will wait for price to reach that critical zone and react accordingly. I don't like to force trades
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.