Technical Analysis : GBPUSD Bullish interest around 1.26700
Technically speaking at the moment I don't see any reasons I enter a long. But I am seeing signs of bullish interest.
On the daily timeframe, this region has witnessed significant upward reactions historically. I am hopeful for a similar reaction once again.
Now that we have revisited this order block, I am anticipating a reaction on the 4-hour timeframe that could lead to a shift in market structure. This would enable me to seek a bullish retracement for a potential entry. I do appreciate these wick rejections from the daily order block when observed on the 4-hour timeframe. They indicate the presence of participants who are strategically positioned around this area.
Will keep this updated but again I want to see some stronger reactions on the 4H timeframe in order to seek a trade.
On the daily timeframe, this region has witnessed significant upward reactions historically. I am hopeful for a similar reaction once again.
Now that we have revisited this order block, I am anticipating a reaction on the 4-hour timeframe that could lead to a shift in market structure. This would enable me to seek a bullish retracement for a potential entry. I do appreciate these wick rejections from the daily order block when observed on the 4-hour timeframe. They indicate the presence of participants who are strategically positioned around this area.
Will keep this updated but again I want to see some stronger reactions on the 4H timeframe in order to seek a trade.
Comment:
Follow up. We now have a change of character. Price is holding as expected Waiting on a stronger pullback for the entry or a BOS. Depends on how market is at the BOS. Will keep updating.
Trade active:
Executed
Comment:
Price is still looking bullish : Got a price liquidity rejection on that order block. Still holding this 4H buy into next week.
Trade closed: stop reached
C Nicholas Downie