Hello, a quick setup for additional longs where GBP has retraced to our compression breakout - price will look to our 50-61.8% ratio on the fibonacci in order to create liquidity.
Price has on the higher timeframe rejected 1.84 - so the supply is still activated, but for the purpose of longs - this zone will be a good fresh zone for price to build upon as a demand - due to the candles left which show a nice block and aligning to respect Fib levels.
We hope this assists your trading, note - the trade is only valid if it fits your criteria and also provides rejection of a pinbar, wick, inverted hammer or provides reversal signals.
Trading is about timing unfortunately, which is alot of traders worst nightmares despite having great analysis and knowing the direction.
Many thanks, enjoy and if interested, leave your thoughts and likes to know our analysis is working for you.
Thanks,
Team Lupa
Price has on the higher timeframe rejected 1.84 - so the supply is still activated, but for the purpose of longs - this zone will be a good fresh zone for price to build upon as a demand - due to the candles left which show a nice block and aligning to respect Fib levels.
We hope this assists your trading, note - the trade is only valid if it fits your criteria and also provides rejection of a pinbar, wick, inverted hammer or provides reversal signals.
Trading is about timing unfortunately, which is alot of traders worst nightmares despite having great analysis and knowing the direction.
Many thanks, enjoy and if interested, leave your thoughts and likes to know our analysis is working for you.
Thanks,
Team Lupa
Trade closed manually
