BEARISH SENTIMENT ON GBPJPY

9月24日

So I personally don’t use to trade GJ but lately I’ve understood so well that i am more of a trending market structure trader as my strategy implies me to. So i went in deep search of trending market pairs of which i just found out very well that GJ is a good bearish trending pair if analyzed properly from the monthly timeframe which happens to be my highest timeframe and I prefer watching the major market structure from monthly down to 4hr before knowing how to approach an asset. Now looking at GJ on monthly timeframe i spotted a very nice bearish structure which to me has already started selling off a nice Supply zone on the monthly. I did a breakdown to this daily timeframe and found out that on the daily there is also this bearish market structure shift as my analysis here shows. So whenever price reaches the supply zone labeled above i will be looking for lower timeframe shift also to bearish structure and getting in on the sell to break lower as much as possible. My confluences for the bearish structure are backed by 1) market structure(ChoCh), 2) Supply, 3) Imbalances, 4) Liquidity(Entry & Exit). Will patiently wait for lower timeframe bearish ChoCh as my confirmation entry to join the sells if it respects that Supply zone. First TP target will be at 180.000 price level and below.

Note: the market is all about probabilities which also makes my analysis a probability.