Quick Update on GJ. I adapted the chart for you. I marked two possible scenarios for GJ. Me personally I see it dropping because of the structure but the price can still go up.
In trading we need to be reactive and not predictive. We simply can not predict the future but we can work with high probability setups and be reactive on what the market gives us. Me personally I took yesterday short on GJ. I was in profit but price reversed back up to retest the zone. This happened because the DXY dropped today. Due to the current situation of the DXY it is a little bit difficult to trade because this fundamentals news can cause trend reversals, breakouts, ...
This is why I mentioned to be reactive in Forex. It is not a problem if we got fundamental impact . We simply need to react on them. In this case we are watching how the market price will respond to this . For me we got yesterday the Price Action confirmation. If this trade will lose, it will not be a problem for me. Then I only lost 1R. The next step would than be if this was a Fake Out or if we broke the and waiting for a retest to join the buyers. If the next trade works I am in big profit again. Simple.
That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.
Thank you and we will see next time