GBPJPY Potential Forecast | 28th November 2022
Hi everyone, today I will be talking about a possible GBPJPY short trade using Smart Money Concepts that could potentially play out during NY session.
Trade Idea
1) Price have cleared the supply zone and pushed lower
2) Structure has been broken and a lower low and high has been formed
3) Price inefficiency can be seen and expecting price to retrace and clear the H4 high marked by the zone
4) Anticipating price inefficiency to be cleared
To look out for:
- Price is currently respecting the area of demand zone and this could prevent price from heading lower if it continues to respect the zone.
All in all, I believe that price can potentially head lower as mentioned in my GBPJPY set up that I talked about on the 27/11/22.
Trade safe guys!
Regards,
Chern Yu
Trade Idea
1) Price have cleared the supply zone and pushed lower
2) Structure has been broken and a lower low and high has been formed
3) Price inefficiency can be seen and expecting price to retrace and clear the H4 high marked by the zone
4) Anticipating price inefficiency to be cleared
To look out for:
- Price is currently respecting the area of demand zone and this could prevent price from heading lower if it continues to respect the zone.
All in all, I believe that price can potentially head lower as mentioned in my GBPJPY set up that I talked about on the 27/11/22.
Trade safe guys!
Regards,
Chern Yu
Comment:
Price tapped and mitigated the fair value gap and continued lower. Bearish structure continues...