All annotations on graph fully explain my logic for this potential trade position which will need confirmation before entry, my first attempt of a live institutional set-up.
All feedback or comments are greatly appreciated!
Identified both a POCKET OF LIQUIDITY & a MARKET GAP. Which gives me reason to believe that the market will chase that; therefore going short. Market is indicating a DISTRIBUTING PATTERN. - Late Entry.
Watch for HIGH IMPACT USD NEWS Wednesday 10th June. Identified both an area of large LIQUIDITY & a MARKET GAP - therefore expecting the market to fill the gap and chase liquidity utilising SMART MONEY STRATEGY.
USD SPECULATION - Negative = Drop in Currency Value
Descending Triple Top occurring on the 4HR Wedge (Entry - 1.24600).
Taking into account the Current Economic Situation and COVID-19, we at Sterling Capital FX belive the GBP is currently way Overvalued.
New Lows of 1.14 have been created on the Pound Sterling, things are projected to get worse with the Country on Lockdown so we can expect retests of 1.14 as the...
I believe EurAud will drop simply because it’s formed a lower low and a lower high on the daily timeframe, hence a bearish structure.
The reasoning behind my entry, is because there was a liquidity capture with that institutional candle (highlighted yellow candle), clearing equal highs (highlighted red ish).
The specific entries are at the body and 50% of that...