GBPJPY: Day 3 breakout traders long!Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“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
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: this is currently my main thesis at the moment, the market itself is still inside the previous weekly range, but in the new week is pumping higher making constantly higher highs and higher lows. Day 3 breakout traders long is a signal that depending on the template can explode in the direction of the trend or reversal. However, yesterday the market closed out of balance and today it can still keep going higher targeting the previous HOW, completing then 2 weeks of dump and pump template. Today, Asia placed a higher high into the yesterday HOD and is currently retesting the most recent low. FOMC and other news are in schedule for the day, but if the price will consolidated around the current level, I would be willing to take this long opportunity for 100+ pip.
Short: at the moment I'm not interested in the short scenario, unless the market will pump back up into the closing price of yesterday, consolidating for a short trade opportunity which I will consider only a scalp, eventually back into the current LOD.
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
