Institutional Supply: GBP/JPY Short
Hi again!
The second similar pair that is added to my watch besides EUR/JPY is the GBP/JPY opportunity. The analysis is more or less the same, price has been in a up-trend which might end due to the new creation of daily supply at the top. The criteria of this zone is exactly the same as EUR/JPY shared previously, making me watch both of them when my alert triggers.
What I like from the higher-timeframes is the strong monthly supply area slighyl above or at the top of this daily zone, therefor my arrow is shows that price might spike above it a bit, which is totally fine in my opinion. We have a formula on how far it is allowed to go above.
Kind regards,
MNieveld
The second similar pair that is added to my watch besides EUR/JPY is the GBP/JPY opportunity. The analysis is more or less the same, price has been in a up-trend which might end due to the new creation of daily supply at the top. The criteria of this zone is exactly the same as EUR/JPY shared previously, making me watch both of them when my alert triggers.
What I like from the higher-timeframes is the strong monthly supply area slighyl above or at the top of this daily zone, therefor my arrow is shows that price might spike above it a bit, which is totally fine in my opinion. We have a formula on how far it is allowed to go above.
Kind regards,
MNieveld