📉 Market Structure explanation ( GBPJPY - 1week )
The market has shown a long supply but the supply was slow and was not strong compared to its previous supply . And forming a down side liquidity and a NEEDED VOLUME .At 1 week time frame bearish engulfing candle is formed but the size of the candle is to big so we need a retest
So what to do Next
1) Wait for retest atleast 60 % of the bearish engulfing candle
2) Look for the negative candle stick at (1D Time frame)
3) If no negative candle stick what for the chart patterns
NOTE if the market has given the supply by consolidating, forming chart patterns than there is high chance that the market give demand by forming (chart patters , consolidating ) or by doing FMFR ( first move fake than reversal )
#(If supply is slow than demand could be Fast)
The market has shown a long supply but the supply was slow and was not strong compared to its previous supply . And forming a down side liquidity and a NEEDED VOLUME .At 1 week time frame bearish engulfing candle is formed but the size of the candle is to big so we need a retest
So what to do Next
1) Wait for retest atleast 60 % of the bearish engulfing candle
2) Look for the negative candle stick at (1D Time frame)
3) If no negative candle stick what for the chart patterns
NOTE if the market has given the supply by consolidating, forming chart patterns than there is high chance that the market give demand by forming (chart patters , consolidating ) or by doing FMFR ( first move fake than reversal )
#(If supply is slow than demand could be Fast)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.