WHAT THE HELL IS GOING ON WITH GBP/JPY 2.0

12 Haz

Price recently concluded its Buy objective into a Weekly FVG. Immediately it conlcuded it printed a sell chart pattern (on M5 timeframe) whose catalyst candle closed within the 1H supply zone. so current price objective is a sell. Tp1 is nearest valid M5 Demand zone, Tp2 is nearest valid H1 demand zone (as highlighted)

13 Haz

Not

I got stopped out on my initial sell entry. Re-entry @ sell chart pattern (5M) formed within a valid 5M supply zone. Note that price triggered a valid 5M demand structure before printing this sell re-entry. Note that this is a false buy signal. Would share my reasons for this soon

14 Haz

Not

Following the theory that price moves from demand to supply or vice versa.....We see that price has broken a key/valid weekly supply zone, with the next valid supply close-by being the Daily Supply zone. On the Daily timeframe we also see price in a clear uptrend, so any sells would most likely be minor retracements into 1H/Daily Demand levels. So in summary, I see the next daily supply zone as the last bus-stop for the bull-run, before BOJ decides to really step-in. The Weekly FVGs are not supply zones, but are very strong resistance zones that price can use as a breather (to take profits) during its bull run. A complete reversal from the Weekly FVG is highly unlikely but not impossible.

18 Haz

Not

GJ Buy entry signal. TP1 & TP2 set

20 Haz

Not

26 Haz

Not

BUY

28 Haz

Not

Update

8 Tem

Not

TP smashed on the Buy. Time to sell

8 Tem

Not

GJ Bull run isn't over yet. This sell-off would just be a correction into 1 hour demand zone, worst case scenario - a daily's resting liquidity

11 Tem

Not

I was wrong about the temporary sell-off happening now. After watching price reaction and deeper analysis, we shouldn't expect any temporary correction until after price taps into the weekly resting liquidity @214.736. We can expect a temporary correction after price interaction with this level, before price continues upward again into weekly supply.

12 Tem

Not

22 Tem

Not