mrcacophony

mrcacophony

******For Journaling Purposes****** Before entering this trade earlier this morning I noticed WYCKOFF forming on the day time frame. The SC, AR, ST, UT, and UTAD had already formed. Although for a schematic to be legit you need a SOW which has still not appeared yet on that TimeFrame (Would need a break below 1.35000). So next I went to look for LPSs on lower...

mrcacophony

EU has been very bullish for quite some time. A lot of liquidity is beneath the trend line that most retail traders draw out that need to captured. Here you can see a new order block that made on the one hour at the top. I am looking for banks to move the price back to here to mitigate their orders before eventually continuing down to take out all liquidity and...

mrcacophony

This purple zone you see is an Order Block on the day TF that was just mitigated from over a year ago. With this recent major move to the down side, this makes me believe that banks must go back up and capture all the liquidity that has been created on this massive bearish push.

mrcacophony

Bulls get ready to ride

mrcacophony

From the transition of London to New York, GU has successfully made a lower low and broke a significant trend line. I will be waiting for price to retrace and give me an entry for the continuation of what appears to be a brief downtrend.

mrcacophony

My entry was right at the start of the New York Session. Consolidation - Expansion - Profit Wave!

mrcacophony

With current fundamental news on the British Pound and US dollar, I see no reason why the next day candle will not be bullish with the supplement of the morning star I have highlighted on the day candlesticks. Be on the look out for an entry to the upside on the smaller time frames.

mrcacophony

In this analysis, I am expecting GU to break the major resistance level to the major weekly trend line. Then the bears will continue to take over and the overall downtrend will continue.

mrcacophony

Good do a short term sell. Or wait until price reaches the trend line and look for a buy Signal.

mrcacophony

You could look for a short term buy or wait to see if a sell signal appears near the trend line.

mrcacophony

Here you can see price coming close to the trend line that has not been broken since back in late April. We are already seeing some rejection wicks. I will be looking for a short opportunity to the downside in this area.