Short

GBPJPY: Day 3 longs breakout traders in the market

Updated

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week ✅ Day 1 cycle
Thursday DAY 2
Friday DAY 3 Closing Range

2. SIGNAL DAY

First Red Day
First Green Day
3 Days Long Breakout
3 Days Short Breakout
Inside Day

3. WEEKLY TEMPLATE

Pump&Dump
Dump&Pump
Frontside ✅
Backside

4. THESIS:

Long: secondary, considering this market still (at the moment) on the frontside move, it could keep going higher if price drop at least on the LOD;
Short: primary, CP to LOD can be an interesting scalping opportunity if the market keep consolidating around the CP level.

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Note

Not currently my favourite scenario to short, but still the lower low and pump of 3 level of rise could give a good RR in case of setup

Note

If you entered this short setup, now you should be on break even.. everything is pump and dump

1min chart

Note

Pump and dump completed ✅ Asia blow off in the direction of the backside move, but I don't trade Asia session

GianniPichichero

Disclaimer

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