GBPJPY 27/8/23
Starting off our week as per with GJ!
Now last week left the market in abit of an open space with very large ranges and lots of imbalance to fill, the main reasons for this is that we had the Jackson hole news event which has directly shifted a lot of our pairs directions and narrative.
Its important to not the time of the year we are in right now, we have just hit the final week of August which is widely know for being the worst time of the year to trade, we are now coming to the end of this period, so with this in mind i strongly believe the Jackson hole event has finally injected our high liquidity back into the markets for our final quarter.
Meaning the following, more efficient swings, faster and stronger moves with trend and a larger daily pip range, so all round good news for us!
Now as you can see we have a very large range here on GJ and as we head into this week we will only be looking for internal movements, leading us to look towards our LDN and NY opens, mainly focusing on our SE entry model.
we have seen price react from our C-swing low and mainly think we may shift higher from here but overall we are still bearish on this as it stands.
Our swing high is a news POI which means we can only really look for confirm entries on this we also have a lot less confirmations for shorts at the high as it becomes a very old POI.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Now last week left the market in abit of an open space with very large ranges and lots of imbalance to fill, the main reasons for this is that we had the Jackson hole news event which has directly shifted a lot of our pairs directions and narrative.
Its important to not the time of the year we are in right now, we have just hit the final week of August which is widely know for being the worst time of the year to trade, we are now coming to the end of this period, so with this in mind i strongly believe the Jackson hole event has finally injected our high liquidity back into the markets for our final quarter.
Meaning the following, more efficient swings, faster and stronger moves with trend and a larger daily pip range, so all round good news for us!
Now as you can see we have a very large range here on GJ and as we head into this week we will only be looking for internal movements, leading us to look towards our LDN and NY opens, mainly focusing on our SE entry model.
we have seen price react from our C-swing low and mainly think we may shift higher from here but overall we are still bearish on this as it stands.
Our swing high is a news POI which means we can only really look for confirm entries on this we also have a lot less confirmations for shorts at the high as it becomes a very old POI.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.