GBJPY Weekly Outlook November 2021
What happened today?
We had an imbalance to be filled from November 19th when price dropped aggresively towards @152.600 area. Price started to bounce back and to begin grabbing liquidity at 50% imbalance. Price ranged the rest of the afternoon of Friday. Today volume entered the market, grabbed sell side liquidity then NY and NYSE session volume pushed price to be able to complete the IPA pending to be filled.
What we can expect for this week is continue with bullish momentum towards the @154.300's area where I am expecting price to react since there is an order block sitting there. Following the trend accordingly which is bullish we can catch some of these buys from where price is at right now in @153.900's and I would be looking for liquidity grabs from both sell side and buy side positions in order to grab some volume and continue bullish. Also, will look for HRHR sells at around the 50% area inside the OB at @154.300 looking to lock initial pips. Afterwards will be looking for a BOS from this bullish trend and expect price to retest the OB and continue bearish or wait for the pullback and continue bullish momentum to then fill next IPA up towards @b15522000
#noovertrading @nooverleveraging #lumafx
We had an imbalance to be filled from November 19th when price dropped aggresively towards @152.600 area. Price started to bounce back and to begin grabbing liquidity at 50% imbalance. Price ranged the rest of the afternoon of Friday. Today volume entered the market, grabbed sell side liquidity then NY and NYSE session volume pushed price to be able to complete the IPA pending to be filled.
What we can expect for this week is continue with bullish momentum towards the @154.300's area where I am expecting price to react since there is an order block sitting there. Following the trend accordingly which is bullish we can catch some of these buys from where price is at right now in @153.900's and I would be looking for liquidity grabs from both sell side and buy side positions in order to grab some volume and continue bullish. Also, will look for HRHR sells at around the 50% area inside the OB at @154.300 looking to lock initial pips. Afterwards will be looking for a BOS from this bullish trend and expect price to retest the OB and continue bearish or wait for the pullback and continue bullish momentum to then fill next IPA up towards @b15522000
#noovertrading @nooverleveraging #lumafx
Comment:
..towards 155.200 price area.