HEY GUYS IM BACK WITH ANOTHER IDEA, IF YOU HAVEN'T ALREADY, GO AHEAD AND FOLLOW ME FOR ORE, THAT WAY YOU CAN STAY UP TO DATE WITH THE PRECISION FAM.
Lets get right into it:
So as we can see, london session pushed the pound to the lower side of the price range, this is important because the NY session tends to reverse the direction of the London session and this can be added to our list of confirmations. the area i have marked in the red ellipse is what i believe is a stop hunt (correct me in the comments if im wrong). Zooming in on lower timeframes it becomes more apparent. All this being analyzed, we can assume that price is looking to chase the upside.
So how do we approach this? Simple, we must wait for price to pull back to a level f support so we can see what price action is at said level. More than likely price is going to touch down on the purple rectangle then shoot back upwards OR break the level and continue to the lower end of the price range. So my tip to you all is be prepared for a short as well as a long because on this hourly chart we see that price is under the 2 ema's. Keep that in mind before entering a position.
Thank you guys for reading this far, let me know if you want me to make the ideas a little bit shorter to read.
Remember, price action is our best friend. OBSERVE, EXECUTE, PLAY. LETS GET IT PRECISION FAM!
Lets get right into it:
So as we can see, london session pushed the pound to the lower side of the price range, this is important because the NY session tends to reverse the direction of the London session and this can be added to our list of confirmations. the area i have marked in the red ellipse is what i believe is a stop hunt (correct me in the comments if im wrong). Zooming in on lower timeframes it becomes more apparent. All this being analyzed, we can assume that price is looking to chase the upside.
So how do we approach this? Simple, we must wait for price to pull back to a level f support so we can see what price action is at said level. More than likely price is going to touch down on the purple rectangle then shoot back upwards OR break the level and continue to the lower end of the price range. So my tip to you all is be prepared for a short as well as a long because on this hourly chart we see that price is under the 2 ema's. Keep that in mind before entering a position.
Thank you guys for reading this far, let me know if you want me to make the ideas a little bit shorter to read.
Remember, price action is our best friend. OBSERVE, EXECUTE, PLAY. LETS GET IT PRECISION FAM!