Hi,
I am going to sell GU around 1.37558, here is why.
I always start my analysis from a big timeframe either weekly or daily. That does not mean that I wait days or weeks before taking my trades; I just follow the trend and take trades according to the big timeframe's target. For example, when we touch 1.37558 I will ONLY look for sells until we reach the targets.
So on W1:
As you can see we an order flow that should be respected. The demand zone is at the wick. People do not like to trade wicks but I love wicks; a wick is an order block on a smaller timeframe. Do not count it out!
We also have a volume divergence on this timeframe, sellers are coming in and buyers are exiting. When you sell you want that to happen.
On D1:
As you can see every time we reached the HH, we tapped into 50% of the last order block/supply zone/sell candle. When you backtest the pair you'd see that GU does this quite often. So to have an even better entry I'd look at 1.37728.
On H1:
I would expect something like that to happen, then ride the wave.
Look at the related idea. It was my analysis on AUDCAD which dropped 200 pips and I'm expecting it to drop some more.
Hope this helps.
If you do no see liquidity, you are the liquidity.
I am going to sell GU around 1.37558, here is why.
I always start my analysis from a big timeframe either weekly or daily. That does not mean that I wait days or weeks before taking my trades; I just follow the trend and take trades according to the big timeframe's target. For example, when we touch 1.37558 I will ONLY look for sells until we reach the targets.
So on W1:
As you can see we an order flow that should be respected. The demand zone is at the wick. People do not like to trade wicks but I love wicks; a wick is an order block on a smaller timeframe. Do not count it out!
We also have a volume divergence on this timeframe, sellers are coming in and buyers are exiting. When you sell you want that to happen.
On D1:
As you can see every time we reached the HH, we tapped into 50% of the last order block/supply zone/sell candle. When you backtest the pair you'd see that GU does this quite often. So to have an even better entry I'd look at 1.37728.
On H1:
I would expect something like that to happen, then ride the wave.
Look at the related idea. It was my analysis on AUDCAD which dropped 200 pips and I'm expecting it to drop some more.
Hope this helps.
If you do no see liquidity, you are the liquidity.
Comment:
On the image it is supply not demand
Trade active:
TP1 reached, i'm only selling this ATM
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