GBPJPY Long Trade Open:
M15 Classic, pre-LS. This is based on consolidation (position building) below whole number (PVSRA = bulls) with nice PA waves and then a strong thrust up thru the whole number, which I interpret as the Asian session MMs aggressively accumulating long orders - so much so they could not hold the price low - ahead of the coming GBP releases. Now, they are working the price back down somewhat. I have decided to make a pre-LS entry here. No TP/SL at this time.
M15 Classic, pre-LS. This is based on consolidation (position building) below whole number (PVSRA = bulls) with nice PA waves and then a strong thrust up thru the whole number, which I interpret as the Asian session MMs aggressively accumulating long orders - so much so they could not hold the price low - ahead of the coming GBP releases. Now, they are working the price back down somewhat. I have decided to make a pre-LS entry here. No TP/SL at this time.