Still bullish overall on GBPJPY, price never pulled back to preferred area of interest before taking the buys the previous day. Now price has formed new structures over Asian session, waiting on price to respect these new price levels servings as both support and resistance and for price to retest and reject or fakeout off these levels before a potential LONGS or...
GBPJPY is obviously bullish, and expect price is retest and reject or fakeout off of certain price levels before potential LONGS. The recent bullish push was fundamentally driven by news release on the GBP, so a retest should be expected, and if not, no trade. This is the first time GBPJPY is retesting current price since 2015, so cannot see much data to the left...
Daily anticipation of where price would go on an instrument depends on the bias from the higher timeframes (daily, weekly and monthly). Daily bias from daily timeframe is BEARISH, looking for sells, identified ranges below SUPPORT with clean traffic to the left, that price can fill. As well, ranges for BUYS if the SELLS don't come in play as being flexible in the...
GBPJPY Daily pre-planned analysis using higher timeframe data to understand where and when to take either buys or sells on the lower timeframes with the daily/weekly or monthly bias.
As the higher timeframe bias bearish, sells have the upper hand in coming to play. Identified price ranges for both buys and sells as a scalper. Candle closure into any of these price ranges will determine the direction of positions to enter.
Pre-planned analysis on setups to enter, breakout and fakeout.
