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GBP/JPY - Price is the leading Indicator
Today we are looking at GBP/JPY 5 Minutes timeframe.
Based on the price structure, we believe that the high probability direction in the short term is downtrend.
We have seen an ABC (Corrective) wave after the Low of Friday was made.
Key Structures to note:
Structure 4: 200.022 Downtrend continuation reversal point.
Structure 2: 200.674 Downtrend Violation Structure.
Always Think in Probability:
As traders, you must be careful to align your behavior and expectations with the following principles:
- Anything can happen
- An EDGE is only an indication of one thing happening over another
- There is a random distribution between wins and losses
- You don't need to know what will happen in order to make money in trading.
Based on the price structure, we believe that the high probability direction in the short term is downtrend.
We have seen an ABC (Corrective) wave after the Low of Friday was made.
Key Structures to note:
Structure 4: 200.022 Downtrend continuation reversal point.
Structure 2: 200.674 Downtrend Violation Structure.
Always Think in Probability:
As traders, you must be careful to align your behavior and expectations with the following principles:
- Anything can happen
- An EDGE is only an indication of one thing happening over another
- There is a random distribution between wins and losses
- You don't need to know what will happen in order to make money in trading.
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