GBPJPY SHORT RE-ENTRY 204.140 SL & TP ON CHART
Here I am re-entering GJ short, very surprised how quickly the last entry was decimated, quite frankly a whole pound movement in that short space of time last night at these high prices makes me even more biased towards a harsh drop incoming - meaning Monday morning was a liquidity sweep.
Recently the market has being moving in a dirty, stop loss hunter way, a LOT of manipulation is going on the past month and still is going on currently, much larger stop losses than usual are going to be required for these disgusting stop loss hunting conditions.
I believe there is liquidity (myself included) from stop loss hunt last night and early this morning, this could be enough to finally initiate the harsh retracement.
Checking in on the JXY currency index our new monthly candle today may find support to push off 62.00 level
Another thing to note is have a look at USDJPY new monthly candle has not got legs to stand on, looks highly likely to me that this candle will turn red at some point to at least give it legs, if not for a full reversal.
Please bear in mind if taking this trade we are fighting against a very strong trend, use low risk
There is potential GJ keeps climbing to further stop loss hunt over 206/206.100
This would be disgusting, but is possible.
Risk management 0.5-1% per trade, this trade is 1:3R
Recently the market has being moving in a dirty, stop loss hunter way, a LOT of manipulation is going on the past month and still is going on currently, much larger stop losses than usual are going to be required for these disgusting stop loss hunting conditions.
I believe there is liquidity (myself included) from stop loss hunt last night and early this morning, this could be enough to finally initiate the harsh retracement.
Checking in on the JXY currency index our new monthly candle today may find support to push off 62.00 level
Another thing to note is have a look at USDJPY new monthly candle has not got legs to stand on, looks highly likely to me that this candle will turn red at some point to at least give it legs, if not for a full reversal.
Please bear in mind if taking this trade we are fighting against a very strong trend, use low risk
There is potential GJ keeps climbing to further stop loss hunt over 206/206.100
This would be disgusting, but is possible.
Risk management 0.5-1% per trade, this trade is 1:3R
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