GBPJPY Long Trade Open:
Classic and then Scout entry. We have stacking here: Trend angled up, Dragon above Trend and slightly angled up, and PA,....well it is struggling to break high above the Dragon. If it does not "soon" then there is increased likelihood there will be another low, maybe below the quarter Level, before this attempts to set up again.
There are JPY high impact releases later in the week. If the MMs have SM short orders to fill higher up before those releases, they need to get this moving upwards. And a move upwards might take price back up to the H&S neckline (see post last week), an excellent place for a price reversal. If price hits RDH that will do it, but then time is needed up there for the filling of SM orders (presumably to close longs at profit and open shorts). Which means the MMs will need time to suck in Dumb Money to get the liquidity to execute the orders for Smart Money.
Time will tell.
tah
Classic and then Scout entry. We have stacking here: Trend angled up, Dragon above Trend and slightly angled up, and PA,....well it is struggling to break high above the Dragon. If it does not "soon" then there is increased likelihood there will be another low, maybe below the quarter Level, before this attempts to set up again.
There are JPY high impact releases later in the week. If the MMs have SM short orders to fill higher up before those releases, they need to get this moving upwards. And a move upwards might take price back up to the H&S neckline (see post last week), an excellent place for a price reversal. If price hits RDH that will do it, but then time is needed up there for the filling of SM orders (presumably to close longs at profit and open shorts). Which means the MMs will need time to suck in Dumb Money to get the liquidity to execute the orders for Smart Money.
Time will tell.
tah