Hi all,
GBPJPY is the most interesting pair for me today, on the 27th we saw price fail to close above its previous daily highs and rejected a daily trendline, showing a lot of selling,
But yesterday price shot right back up, targeting everyone's stop losses that went short the market, trapping the shorts.
Price has currently broken structure and trendline on the daily, which is significant and what we want to see.
I'm looking to get long off the retest of the daily trendline, fib retracement and previous structure. Theres a lot of confluence here for me.
GBPJPY is the most interesting pair for me today, on the 27th we saw price fail to close above its previous daily highs and rejected a daily trendline, showing a lot of selling,
But yesterday price shot right back up, targeting everyone's stop losses that went short the market, trapping the shorts.
Price has currently broken structure and trendline on the daily, which is significant and what we want to see.
I'm looking to get long off the retest of the daily trendline, fib retracement and previous structure. Theres a lot of confluence here for me.
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Order bounced without us, trade now invalid for me