GBP/JPY 4H - Here is a prime set up for this pair, as you can see we have recently had a higher timeframe break in structure to the upside, suggesting longer term bullishness.
I now want to see price pullback into a valid area of interest allowing us to get involved in this market with a more refined entry. Once we see price pullback down into our area of interest this is when we can prepare to go long.
We want to see price trade down, clear the area of Demand and then break structure to the upside fractally, this will confirm that enough Demand has been introduced to flip the balance.
By breaking the last protected high, it confirms that there is more Demand in the market than there is Supply, as we will begin following the laws of Bullish structure. Breaking highs and protecting lows.
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You can see to the left the potential trade that could have been taken from last weeks Sunday Sessions video. 14RR
I now want to see price pullback into a valid area of interest allowing us to get involved in this market with a more refined entry. Once we see price pullback down into our area of interest this is when we can prepare to go long.
We want to see price trade down, clear the area of Demand and then break structure to the upside fractally, this will confirm that enough Demand has been introduced to flip the balance.
By breaking the last protected high, it confirms that there is more Demand in the market than there is Supply, as we will begin following the laws of Bullish structure. Breaking highs and protecting lows.
------
You can see to the left the potential trade that could have been taken from last weeks Sunday Sessions video. 14RR
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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.