Entered in a short positon on GBPJPY using LTF OB as entry point, PA is indicating a reduction in volume and l suspect we will see a symetrical triangle form overnight.
Expecting GJ to break to the upside as a liquidity grab, however, the alternative is drawn on chart to see.
Basis on the liquidity grab is that currently the market is split: 80% short 20% Long
Put simply alot more SL's for insitutions to hit - if market drives up
Trading GJ has been very easy for the past couple days due to ranging PA, I hope everyone has had great week so far: lets end on a high!
After exiting the triangle, which path do you consider to have a higher chance of happening?