GBPJPY: First green day, three days cycle

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range ✅ day 3 cycle
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range
  

2. SIGNAL DAY

• First Red Day
  
• First Green Day ✅
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump
  
• Dump&Pump ✅
  
• Frontside ✅
  
• Backside
  

4. THESIS:

• Long: primary, possibility to complete the weekly pump and dump, going to stop traders short since the last week
  
• Short: secondary, Thursday and Friday rise up creating a potential creepy pumping phase, with chances to reach back the LOW, however, to be in line with the overall move and signal, I prefer to position my self with more size, on the long thesis
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Comment:

Daily overview

is the only option for me to accept a long setup on this pair

Comment:

Price did not really re tested the low, I do not consider it a best candidate, no trade

Comment:

GJ proceeded rising up after the session, dump an dump 3 session, not the best candidate of the day, especially I never take trades after the end of NY timing window.