Probability for 15/12/22

Short

British Pound / Japanese Yen (CAPITALCOM:GBPJPY)

Updated

CAPITALCOM:GBPJPY British Pound / Japanese Yen

beyondta short long fib fibonacciretracement fibonacciextension smartmoney smartmoneyconcept smartmoneytrading

No trade for me today. It seems that price is stuck between Buyside liquidity and Sellside liquidity. Innitially I knew price will retrace to 50% on fib but not right away, it took a while. Now we know it's there and I would expect to start to go down today and make way to 164.400 or even 164.000 but to me is 50/50 = no trades.

Please let me know your thoughts.

Comment:

Update - I forgot to mention News at 7 am NY time. I can only assume that BOE will increase the interest rate and if it does price should go up and make GBP stronger however last time they did that Price was going down anyway, so 50/50 for me.
If they start to build up orders in one of the directions then we should see manipulation in one of the directions to make people jump in on emotions and then quick distribution in the other direction to take everyone out. Let see.

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