GBPJPY LONG PRE-NY 082521 Daytrade
LONG
1. HH HL market structure
2. Trendline rejection
3. 1H breakout of range (Entry confirmation)
4. Potential wickfill on 1H candle
5. Bullish MAs
6. Strong rejection off 149.500 level, always multi-days impulsive push
AGAINST
1. HTF Bearish structure
2. Technically hasnt broken 4h Market structure... Closure above 151.300 would signify proper break of 4H structure.
I'm currently looking at price at least tapping into 151.000 level. Only big confirm is the Jackson Hole Symposium which may be the reason why past 2 days market has been really stagnating.
1. HH HL market structure
2. Trendline rejection
3. 1H breakout of range (Entry confirmation)
4. Potential wickfill on 1H candle
5. Bullish MAs
6. Strong rejection off 149.500 level, always multi-days impulsive push
AGAINST
1. HTF Bearish structure
2. Technically hasnt broken 4h Market structure... Closure above 151.300 would signify proper break of 4H structure.
I'm currently looking at price at least tapping into 151.000 level. Only big confirm is the Jackson Hole Symposium which may be the reason why past 2 days market has been really stagnating.
Note
Strong resistance @ 150.700, keeping an eye on how price behaves till next 4h candle closes. Might close off partials to reduce potential loss. Market has been really low on volume imo.Trade active
Moving my SL to BE, If price fails to upkeep its momentum I don't think it's going to do anything but range till end of the week.Trade active
Price is tapping into 1.272 fib extension + my target zone. Being very cautious to how price reactsTrade closed manually
Closing position as I'm not going to be looking at the chart.
Hold nothing sacred in search of truth
Hold nothing sacred in search of truth
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