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jp7fx
Nov 21, 2021 7:33 AM

Will the Supply Hold and new low created? Short

GLOBALPRIME:GBPUSD60

Description

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After the slow climb back up to the Hourly Supply and then a big drop on Friday 19th Nov where will next week take this pair?

I'd imagine quite a few are looking at longing now as there is plenty of space to make its way up if the Supply doesn't hold.

As usual with this pair it will whip around but keep the levels marked out and trade with the order flow.


Trend AnalysisSupport and ResistanceSupply and DemandGBPUSDGBPUSDimbalancefairvaluegapSupply ZoneDemand ZoneFibonacci Retracement
Comments
DoctorTanzanite
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Great analysis. on your chart you showing 3 possible moves ... which move do you consider the most likely move? I think the red move is most likely ... many retailers did take early buys. I think market makers will do whatever is necessary to drop the market in order to smash retailers, trigger sell orders and grab more liquid prior moving up
jp7fx
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@DoctorTanzanite, I’m thinking the same, so many times with this pair do we see it hunt for the liquidity.
See how Monday moves, good luck and trade safe :)
DoctorTanzanite
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@jp7fx, Cool bro lets hope for the best
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