Potential Crab Forming 🦀

3 Jan 2022GBP/JPY - Potential Crab Forming, price is currently rejecting from a strong S/D zone and we have LTF confirmation for entries short.

I've entered this trade and will look to swing to previous support (Which is also a nice area of confluence) before then looking to trade long with the weekly trend up-to the D point of the Crab for the uptrend continuation!

This is a retracement, so if you trade it be careful with your lots!

Let me know your thoughts!

** Disclaimer ***

These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.