Disclaimer: I post for informational purpose only dear traders, please do your own research properly, markets are risky.
Pair: GBPJPY
Setup: Short term (Higher timeframe = 1H)
Bias = Bearish
Session entered: London session
My Hypothesis:
- Economy: The inflation data is down, well controlled, while the interest rate cuts are still uncertain to most investors = So let us say, NEUTRAL, though with inflation being down, long term perspective the Pound will gain strength.
- Geopolitically: Tensions in the UK & the upcoming elections might see a slight weakness of the Sterling (GBP).
My Technical analysis:
- Price broke previous days lows with decent order flow, and there was a divergence in number of orders in the DOM (Depth of Market) from yesterday, all these factors together made me conclude a sell.
I took an aggressive sell this morning during the London session, expecting to add more positions either today at the NY session or tomorrow during the London session,
I am still observing it.
Thank you!
Pair: GBPJPY
Setup: Short term (Higher timeframe = 1H)
Bias = Bearish
Session entered: London session
My Hypothesis:
- Economy: The inflation data is down, well controlled, while the interest rate cuts are still uncertain to most investors = So let us say, NEUTRAL, though with inflation being down, long term perspective the Pound will gain strength.
- Geopolitically: Tensions in the UK & the upcoming elections might see a slight weakness of the Sterling (GBP).
My Technical analysis:
- Price broke previous days lows with decent order flow, and there was a divergence in number of orders in the DOM (Depth of Market) from yesterday, all these factors together made me conclude a sell.
I took an aggressive sell this morning during the London session, expecting to add more positions either today at the NY session or tomorrow during the London session,
I am still observing it.
Thank you!
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.
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.