faddy

Market maker went hunting for Sl yesterday, should short today

Short
faddy Updated   
FX:GBPJPY   British Pound / Japanese Yen
Looks like the market maker went to hunt for stop losses yesterday. Price formed a wide double top at the level 162.526 on the 1hr chart, As analysed, I still think that price will go down to test the low of last week minimum 156.978 to 155.736 , but we would have to break 159.644 level, retest it and enter after the retest to confirm the move.
Trade active:
Price has gone up, but is still withing the price range that GJ has been trading in.. As seen in the drawing, price is favoring the upwards move,but we are still in the range and can reverse at or near yesterdays high. We have to break this high, retest and look for entry. This goes for the opposite also. Patience for the entry
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