GPJPY is on a new Buy objective. Target is the weekly resting liquidity @ 206.060
Price recently concluded its Buy objective into a Weekly FVG. Immediately it conlcuded it printed a sell chart pattern (on M5 timeframe) whose catalyst candle closed within the 1H supply zone. so current price objective is a sell. Tp1 is nearest valid M5 Demand zone, Tp2 is nearest valid H1 demand zone (as highlighted)
Sorry I am just posting this update, I have been quite busy so I couldn't post immediately after getting into the trade, however I still think its useful to share because some of you may use a system that could give another entry opportunity for the current downtrend on GBPJPY Screenshot 2023-09-18 at 7.38.10 AM
When "Day Trading" GBPJPY it is important to trade in the direction of the trend(swing trend) for the day. After the swing trend for the day has been identified using the trend-line, its time to pay attention to the order-flow for entry setups in the direction of the trend or sometimes against the trend (yes these happens sometimes) Two very strong entry setups...