GBPUSD - BOE Royally Flushing People
There are several factors for my bullish bias.
1. We still have potential institutional buy orders sitting around 1.3060 -1.3080 that I believe need to be mitigated.
2. We have a liquidity void I'm looking to get filled / retested (orange)
3. We hit a Daily Key Level / Bullish Point of Control that was untested
4. We hit a marker maker level 1.2720
5. We cleared 2 Daily Lows in 1 move (great time to buy at discount)
6. We still have Daily Highs that have possible liquidity sitting above them (orders) (Green Targets)
7. Bullish Bat Harmonic Complete
8. We have FLUSHING action on the 1 Min chart (please see below, very important)
9. Tuesday commonly forms the Weekly Low/High
10. BOE News was the catalyst for this, more marker maker confirmation.
I entered this trade already and I have closed half of my position at 1:1.
I will leave the rest running, and observe price to see if we can really make this push up.
An H4 close above the two daily lows we cleared will be a very very good sign that this was a bear trap.
-Best of luck to you on your trading journey
1. We still have potential institutional buy orders sitting around 1.3060 -1.3080 that I believe need to be mitigated.
2. We have a liquidity void I'm looking to get filled / retested (orange)
3. We hit a Daily Key Level / Bullish Point of Control that was untested
4. We hit a marker maker level 1.2720
5. We cleared 2 Daily Lows in 1 move (great time to buy at discount)
6. We still have Daily Highs that have possible liquidity sitting above them (orders) (Green Targets)
7. Bullish Bat Harmonic Complete
8. We have FLUSHING action on the 1 Min chart (please see below, very important)
9. Tuesday commonly forms the Weekly Low/High
10. BOE News was the catalyst for this, more marker maker confirmation.
I entered this trade already and I have closed half of my position at 1:1.
I will leave the rest running, and observe price to see if we can really make this push up.
An H4 close above the two daily lows we cleared will be a very very good sign that this was a bear trap.
-Best of luck to you on your trading journey
Comment:
Here is the flush on the 1 min
Comment:
Remainder of trade closed at break even