sufiansaid

Trading Plan Update for GBPJPY The Beast

Long
OANDA:GBPJPY   British Pound / Japanese Yen
Referring to the this post 2 days ago :
The daily range for yesterday was 100 pips roughly whilst the 20-day ADR was 130. I would consider it a hit. Today's 20-day ADR is 132 pips and I expect this will be reached today and hopefully to the downside. I am still bullish the Sterling and I am looking at liquidity pool at 134.600-134.500 and 134.00 price levels.

There was a valid bullish signal on Tuesday but I missed that signal. That signal formed an accumulation zone which creates another "liquidity plot" around 134.500-134.00.

If price enters in one of these price zones, that will activate my bullish mode and will look for bullish activation.

There is a risk event for UK and Japan today but either I don't expect anything significant.