Good day Traders,
I hope all have had a good trading week! Below is my trading analysis against GJ for this upcoming week (7 Aug - 12 Aug).
* My weekly bias for GJ is bearish. I could be wrong, but this is my analysis until proven otherwise!
* Anticipating price to clear those equal highs @ 163.900, to trade right into the 1hr bearish order block (164.200).
NOTE: Price will be inside of the daily FVG and it may close it out before the down move.
* We have equal lows (ELs) @ 161.120. This is a logical target to reach for. You can set your TP @ 160.950. A retracement of some sort may ensue after clearing those equal lows?
* The ultimate target is to clear sell side liquidity (SSL) resting below 159.450.
NOTE: There's a total of (9) news events against GBP on Friday (12Aug), two of them being high impact. Expect a spike in price.