GBP/JPY

15 juin 2021

Price has tapped into a 2H area of supply and shown some sort of reaction . we could see that price gradually approached the area and manipulated highs on smaller timeframes before we got the reaction coming down to create equal lows. Now im currently waiting for price to either continue to make a new low in turn breaking structure to the downside, or generate more liquidity and retrace back to my area of supply shown by my yellow box to take a short. Targets will be to fill majority of the imbalance left below and see how price reacts when approaching my session candle highlighted by a purple box.

15 juin 2021

Note

Having a second look. Price has not sufficiently broken structure to the downside so taking the short would be risky despite my other confluences. For this reason I will stay out of the trade and just monitor the results.