Bais: Short
Market Cycle Phase: 2
The 15m strategy rules give me a short bias on GU, however, There is a strong MP in confluence with last weeks POC.
Potentially some longs available here, but I would 1/2 my usual risk in this situation.
Price reacted from a higher time frame point of interest.
creating three scenarios which are Accumulation, manipulation, and distribution (PO3)
which signifies the the institutional bodies has stepped into the market.
present;y the institutional bodies are creating more order to push the price short.
Good evening from The Netherlands..
Today we have GBP / USD..
Beautiful example of a Trading range..
Strategy Trading range. Buy low, sell high..
Look for description..
When you take a trade with less risk it means it comes with less probability.
When you take a trade with high probability it means it comes with more risk (wider stop loss)
GBPUSD has been trading within a channel for close to a month now and with price coming to the "third tap" of the trend line and the EMA it is likely we will see a "fakeout". For us retail traders we can't control to market but we can anticipate a clear and obvious move.
Using smart money concepts on the 1H time frame we can see
Within this order block we...
Hello Traders,
Here we have a GBPUSD long trade idea. If you like this idea please show your support!
This trade idea is based off the fact of the USD reaching a weekly low and we can see some strength beginning to occur making GBPUSD pair weaker. Also the GBP is at a weekly high since the beginning of September so we are expecting some weakness which...
it's possible to retest the lows before for GBPUSD before nay moves to upside this is a very nice trade for the short term let see until then plan your trade, trade your plans.
i will update u guys in case it needed till then its down side.
I have here a potential sell on GU as price is going to reject the previous support where it also matches with Fibonacci.
I'm currently waiting for a confirmation to enter this trade.
Let me know what do you think?
journaling/learning purposes
I'll be looking to short G/U if I see several rejections from S&D zone 1.38634 or 1.38038. The reasons; there a break of structure to the downside, the market is bearish for couple of weeks, there are unbalance underneath and price need to mitigate the previous S&D zone at 1.36635. All these confluences gives us a strong indication that the market is moving south...
We are currently at a weekly supply level again and are currently testing several lower time frame order blocks namely a small 5 min order block. Looking for a small 5 rr at least from this set up. This also leaves room for a double top formation and can change the overall market structure to bearish and as such we should look for more breaks of the current market...
In this trade idea I would like to take sell because we are respecting the down trend and the strong USD fundamentals this week should continue the USD strength we've seen of late.
I would like to wait for my entry to drive below the support pull back and test the support as the new level of resistance.
