GJ Continues Bearish?
Updated
Good day Traders,
I hope all have had a good trading week! Below is my trading analysis against GJ for this upcoming week (7 Aug - 12 Aug).
* My weekly bias for GJ is bearish. I could be wrong, but this is my analysis until proven otherwise!
* Anticipating price to clear those equal highs @ 163.900, to trade right into the 1hr bearish order block (164.200).
NOTE: Price will be inside of the daily FVG and it may close it out before the down move.
* We have equal lows (ELs) @ 161.120. This is a logical target to reach for. You can set your TP @ 160.950. A retracement of some sort may ensue after clearing those equal lows?
* The ultimate target is to clear sell side liquidity (SSL) resting below 159.450.
NOTE: There's a total of (9) news events against GBP on Friday (12Aug), two of them being high impact. Expect a spike in price.
I hope all have had a good trading week! Below is my trading analysis against GJ for this upcoming week (7 Aug - 12 Aug).
* My weekly bias for GJ is bearish. I could be wrong, but this is my analysis until proven otherwise!
* Anticipating price to clear those equal highs @ 163.900, to trade right into the 1hr bearish order block (164.200).
NOTE: Price will be inside of the daily FVG and it may close it out before the down move.
* We have equal lows (ELs) @ 161.120. This is a logical target to reach for. You can set your TP @ 160.950. A retracement of some sort may ensue after clearing those equal lows?
* The ultimate target is to clear sell side liquidity (SSL) resting below 159.450.
NOTE: There's a total of (9) news events against GBP on Friday (12Aug), two of them being high impact. Expect a spike in price.
Trade active
Good day Traders!Another week has passed and for GJ, nothing has structurally changed. The bearish momentum will continue. There's only (1) high impact news event against GBP and (5) low impact news events (17Aug22 @ 1000hrs). I will close my trade once price reaches for 160.950.
Stay focused and determined, and don't give up!
#GIMFCFX
Trade closed: target reached
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