GBPJPY Potential Downward Movement
All higher timeframes are Bullish meaning I'm trading against the current.
Although I saw the Daily range come into an area of resistance. and went down quickly after.
Next I saw price retrace. why was that? because It has created an Order Block so I wanted to see price retrace towards that, which happened yesterday.
Now It mitigated, I dropped to the 15M timeframe and saw the purge on liquidity occur.
Next we see the Choch to the downside and now I want to see the mitigation of the order Block on the 15M Timeframe.
Usually I'll wait for the mitigation of the 15M OB and drop to the 1M timeframe for a much more refined entry but today I'm satisfied with this entry level of price.
Target is the 15M sellside liquidity that lies around the institutional price level 186.000
SL Is above the recent 15M Swing High.
This trade Idea Is for eductional purposes only and Is not considered financial advise.
I'm learning myself so I would recommend doing your own analysis before opening any positions in the financial markets.
Cheers!
Although I saw the Daily range come into an area of resistance. and went down quickly after.
Next I saw price retrace. why was that? because It has created an Order Block so I wanted to see price retrace towards that, which happened yesterday.
Now It mitigated, I dropped to the 15M timeframe and saw the purge on liquidity occur.
Next we see the Choch to the downside and now I want to see the mitigation of the order Block on the 15M Timeframe.
Usually I'll wait for the mitigation of the 15M OB and drop to the 1M timeframe for a much more refined entry but today I'm satisfied with this entry level of price.
Target is the 15M sellside liquidity that lies around the institutional price level 186.000
SL Is above the recent 15M Swing High.
This trade Idea Is for eductional purposes only and Is not considered financial advise.
I'm learning myself so I would recommend doing your own analysis before opening any positions in the financial markets.
Cheers!