GBP/JPY Long Setup +600 pips
- We can observe some interesting price action on this chart.
- price rised from 163.0 demand zone and started making HHs.
- Price started dropping with a strong impulsive movement after reaching 172.00>
- We can see that price formed some equal low at 165.00, so we assume that this area has a huge liquidity.
- As you see price did not retest on 163.00 forming imbalance so we may have a bearish movement to 163.0 to grab the liquidity also to fill the imbalance from 163.0 demand zone.
- price rised from 163.0 demand zone and started making HHs.
- Price started dropping with a strong impulsive movement after reaching 172.00>
- We can see that price formed some equal low at 165.00, so we assume that this area has a huge liquidity.
- As you see price did not retest on 163.00 forming imbalance so we may have a bearish movement to 163.0 to grab the liquidity also to fill the imbalance from 163.0 demand zone.