GBPJPY: Day 3 longs breakout traders in the market

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week ✅ Day 1 cycle
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range
  

2. SIGNAL DAY

• First Red Day
  
• First Green Day
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump
  
• Dump&Pump
  
• Frontside ✅
  
• Backside
  

4. THESIS:

• Long: secondary, considering this market still (at the moment) on the frontside move, it could keep going higher if price drop at least on the LOD;
  
• Short: primary, CP to LOD can be an interesting scalping opportunity if the market keep consolidating around the CP level.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Comentarios:

Not currently my favourite scenario to short, but still the lower low and pump of 3 level of rise could give a good RR in case of setup

Comentarios:

If you entered this short setup, now you should be on break even.. everything is pump and dump

1min chart

Comentarios:

Pump and dump completed ✅ Asia blow off in the direction of the backside move, but I don't trade Asia session