Rocketman
Short

GBPUSD: Volume Study and "Money Pump"

FX:GBPUSD   British Pound/U.S. Dollar
140 1 6
As I was looking at the price move up, I sold at resistance and expected the bears to come on in and match the bullish "Money Pump", but, it did not happen.

HOWEVER, when price went above the September 19th high today on low volume , that was not bullish either, and GUESS what that means? That means that there were also no more bulls to push it up. So, we have a weak doji candle with no on e making as much of a decision at on September 19th.

Conclusion:
Bulls: weak bulls. Bulls are hesitating to put their money forward.

Bears: weak bears. Bears are hiding and waiting for price to edge down to 1.3050 to take further action.

Plan: Go to sleep and wake up at midnight or when London opens to see how they react. Move stop higher and deeper in the BEARISH PIT of love where more are waiting, and be prepare to add to my short position along with them and the central bank . Then, watch for volume and price working together again.

How do I feel:
I feel tired. haha.

Food for thought:
I had a mentor named "J", he use to curse at the computer while he makes money. It was amazing how everyday he would make thousands and defied what some "psychology books" on trading talk about: being calm. He was the total opposite.
Comment:
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Comment:
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Comment: The hourly line chart's supply line above lowers the odds of bulls mangling the bears; the bears and sellers will most likely defeat the bulls.
Trade closed: target reached: On of my targets was reached... but not the ultimate one: 1.26.
Comment:
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Comment: LOWER timeframe to investigave the volume further:
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Comment: Only need to see price reaction at those levels...
nice analysis
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