11/20/2021
I called this nice drop in price on GBPJPY way in advance. In fact, I waited all week for it. Even though price broke my descending trendline, I had way too many bearish confluences to buy. Furthermore, I know how the market likes to entice and trap breakout traders. I saw many Instagram traders predicting the complete opposite, which is okay I guess, we're all wrong sometimes. My trading community caught and made money from this move. I'm anticipating it to be an overall 400 pip drop, which lines up with the necessary mitigation that needs to occur at my lower demand zone. However, I'm still waiting for another break and retest of structure for further confirmation. Paying attention to overall market structure changes the game.