GBP/USD POSSIBLE 4H SHORT WATCH LIQLVLS
A beautiful short opportunity is forming before us on the GBP/USD.
Confluence:
1. The 4H .705 Fib level is confluent with the 1.32500 institutional level.
2. Grey area around .705 Fib has already been tested multiple times on LTF. Most LTF moves breaching this level are being rejected fast (aka lots of liquidity).
3. The doji printed at the peak of the trend spiked right into the 1.33000 institutional level. This type of weakness clues to a possible micro bear trend.
4. The grey box to the right of the screen is the 1D fib levels .78, .705, and .62. Notice how the 1D .70 fib overlaps 4H .70 fib. This is rare bearish confluence.
I will be looking for short positions when the right confirmations are printed.
KEEP IN MIND.
The trend is still Bullish. We are only playing devils advocate.
Confluence:
1. The 4H .705 Fib level is confluent with the 1.32500 institutional level.
2. Grey area around .705 Fib has already been tested multiple times on LTF. Most LTF moves breaching this level are being rejected fast (aka lots of liquidity).
3. The doji printed at the peak of the trend spiked right into the 1.33000 institutional level. This type of weakness clues to a possible micro bear trend.
4. The grey box to the right of the screen is the 1D fib levels .78, .705, and .62. Notice how the 1D .70 fib overlaps 4H .70 fib. This is rare bearish confluence.
I will be looking for short positions when the right confirmations are printed.
KEEP IN MIND.
The trend is still Bullish. We are only playing devils advocate.