GBPJPY Short idea for week 11/14 - 11/18
triple bottom rejection now we watch as GBPJPY climbs to retest some levels. Depending where price action retraces to, would be an entry point for a week swing trade idea. Don't enter until reversal confirmation printed. Fundamental news will be a big factor to pay attention too. Positive news will push to the upside while negative news will push to the downside.
Recession fears, high y/y inflation, and poor economic numbers will pull price down as this is the current trend we are in.
Pivot prayer rallies, high optimism for holiday season, and central banks propping economies up will push price upward.
If some big news shoots the price over 167, trades invalid and start looking for buys. Most likely not as we completed one structure to the downside already.
Recession fears, high y/y inflation, and poor economic numbers will pull price down as this is the current trend we are in.
Pivot prayer rallies, high optimism for holiday season, and central banks propping economies up will push price upward.
If some big news shoots the price over 167, trades invalid and start looking for buys. Most likely not as we completed one structure to the downside already.
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