SELL BEFORE LONGER TERM BUYS ON GBP/USD
GBP/USD 1D - As we can see above this market has produced us with an extreme higher TF BOS. I consider this a complete displacement in price and therefore means that moving forward I believe this market is bullish.
Price will however need to trail back into a demand zone in order to build demand. Once we see that penetration from my zone all I will wait for then is for price to deliver us with a fractal BOS to the upside and I will be placing my long positions.
In the meantime we can look to sell into this market, we just need to wait for the deliverance of a BOS to the downside from this initial impulsive wave, once we have that we can look to short before we long.
Price will however need to trail back into a demand zone in order to build demand. Once we see that penetration from my zone all I will wait for then is for price to deliver us with a fractal BOS to the upside and I will be placing my long positions.
In the meantime we can look to sell into this market, we just need to wait for the deliverance of a BOS to the downside from this initial impulsive wave, once we have that we can look to short before we long.