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Monesta
Nov 23, 2022 1:49 PM

GBPJPY Potentional SELL wait for confirmation Short

British Pound/Japanese YenFXCM

Description

We are monitoring potentional SELL scenario on GBPJPY. We see a lot of liquidity downside, but we need to see a clear rejection on our H4 zone. Don't sell on first TAP, wait for an extra confirmation. We will keep you update.

Comment

We can see a reversal pattern on 5M timeframe, but still not entering the trade. Let see on reaction demand area around 168.100. If there will be a correction pull back, NOT impulsive we can preparing for SELL position. Be patience.

Comment

We are open SELL position.
EP: 167.900
SL: 169.160
TP: 164.180

Let's see. Taking some partial if you are in this trade.
Comments
Monesta
🟣 Weekly, Daily timeframe we are bullish
🟣 However we have a strong order block on 4H timeframe
🟣 If we want to take a SELL we need to see a clearly change of character
🟣 We'll wait for more price development before taking any trade.
Monesta
@EVERYONE take a look of this
Bartolo11
What’s now?
Monesta
@Bartolo11 we are waiting for two potentional scenarious:

1. Pulling above previous HIGH to sweep liquidity, strong rejection and change character.
2. Impulsive drop under 167.550 and correction - price action.
JoeChampion
Perfect mate!
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