Hedge long position executed of the back of being in a Short position. Very aggressive entry however risk was tailored according to the probability. Partials have been taken as price came into contact with the supply zone.
Once the green line breaks we are inclined target the highs - providing around a 25% setup from the bottom box.
USDJPY is demonstrating bullish behaviour, hope to see some form of bullish reaction around overlap.
This is based upon the intermediate term downtrend. Waiting for price to manifest in the way we want. Utilise lower timeframes efficiently upon approach.
Don't Neglect Bullishness on the daily - That is the foundation! Hoping this setup initiates a bullish 4 Hour.
Very nice short taken today on GBPUSD. 3 pip Sl. 4hour unwillingness. LTF BOS giving early indication of downside potential.