Overview
-Steady selloff below Monthly level continues.
-4H/Daily Wedge Pattern break.
-4H IT flipped bearish / Daily still bullish but possibly turning.
-ST correction could happen here, offering short opportunity.
- Volume Profile shows large void between 0.89315 and 0.89620, which could offer swift sweep of this range.
-CFTC COT on GBP is equal as of last week.
Bull
-No real bull story for me here, Except a 4H SFP of the MS low.
Bear
-Wedge Break
-4H Trend Flip
-Bullish MS breached
Conclusion
-Shorting pullback with a DCA entry between 38.2%-50%,
-Stops above Monthly Open + Rolling 7 Day vWAP protecting the SL.
https://twitter.com/ZeusChainlink/status/1267796635595259905?s=20
-Steady selloff below Monthly level continues.
-4H/Daily Wedge Pattern break.
-4H IT flipped bearish / Daily still bullish but possibly turning.
-ST correction could happen here, offering short opportunity.
- Volume Profile shows large void between 0.89315 and 0.89620, which could offer swift sweep of this range.
-CFTC COT on GBP is equal as of last week.
Bull
-No real bull story for me here, Except a 4H SFP of the MS low.
Bear
-Wedge Break
-4H Trend Flip
-Bullish MS breached
Conclusion
-Shorting pullback with a DCA entry between 38.2%-50%,
-Stops above Monthly Open + Rolling 7 Day vWAP protecting the SL.
https://twitter.com/ZeusChainlink/status/1267796635595259905?s=20
Trade active:
Active, but re-evaluating the trade, the 4H HL pattern was an SFP and the increase in volume on this trade is not desirable. At MO/Monthly Level/Golden Pocket.
The failure to breach 4H structure would make this trade a H&S short of right shoulder. Less desirable trade now.
The failure to breach 4H structure would make this trade a H&S short of right shoulder. Less desirable trade now.
Trade closed manually:
-0.873R
Comment:
Closed Early - TP1 Hit (40 Hours)