GBPJPY - Long until BOE News Release - then SHORT
Markets will build up their long positions just up until the news comes out Thursday AM. Following the news release, we will see a strong surge to the upside knocking out stops, and enticing people to continue LONG. Once they have enough orders, price will fall quickly and create new lows by Friday AM.
Volatility will be low until Wednesday, as most hedge funds and large banks will wait to launch their positions.
I will let the LONG positions run throughout the week, take profit prior to the BOE news, and analyze my re-entry to go short once the stop loss hunt is finished.
The "GHOST FEED" shows where i predict price to travel throughout the week.
This is my personal opinion, and not to be used for trading advice or professional advice. Please let me know your opinions. Good Luck.
Volatility will be low until Wednesday, as most hedge funds and large banks will wait to launch their positions.
I will let the LONG positions run throughout the week, take profit prior to the BOE news, and analyze my re-entry to go short once the stop loss hunt is finished.
The "GHOST FEED" shows where i predict price to travel throughout the week.
This is my personal opinion, and not to be used for trading advice or professional advice. Please let me know your opinions. Good Luck.