Starting off this week's markups with British pounds to the US dollar as many of you are probably aware there was a war that broke out over this weekend which has affected the open price of nearly all US correlated pairs this in turn has left a gap which has made things a little bit more interesting coming into this week as we have gaps to fill and imbalances to rebalance now as it stands we have a news driven bullish range here for British pounds of the US dollar which was formed on Friday we have broken structure to the downside within this range giving us our swing high and our swing low meaning that we do have a completely formed manipulated range aka a swing meaning that we can look to trade this higher the major point to take away from this is the fact that we have a gap to fill in the upper half of this range meaning price has more of a reason to travel higher as well as possibly seeing price go higher before visiting our point of interest of course we'll treat this like every swing range that we always track and we will wait to see how price behaves once it hits our point of interest very little news for this Monday so I'm not expecting anything crazy until we get into Tuesday's sessions.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
