YO YO YO We back baybbbbeeeeeee! how yall doing, hope we started the week off on a blue note of course. If not, we still have the rest of the week to get the gainz in. Lets jump straight into this one. So GBP had a drop today but the drop was extended through the slower period of the day, around 12:30 pm to be exact (my time). I don trade past 11:30 just to stick to the volatile hours of the day.
So I have to setups here, one continuing the drop we saw earlier, and one suggesting that price is making a bunch of liquidity to shoot back up during more volatile hours. Now since we are sill in an uptrend on the hourly and the 4h chart, it be more logical to be biased for a buy. that being said, price has gotten comfortable around the trendline i have marked in red. If we see a break of that trend line we can be safe in saying price will continue to drop. For further verification we can wait for price to break the support just below that trend line (in green).
If price decides to shoot up, we will most likely see a break out candle simply from all the built up liquidity on this little channel we have i guess you could say. Either way, we are ready either direction price wants to go.
But to be one sided im going to be looking for buys before sells simply because of that trendline moving upwards.
Thanks for checkin out my ideas, hope you guys enjoy the content and dont forget to follow me to stay up tp date with my ideas daily!!
So I have to setups here, one continuing the drop we saw earlier, and one suggesting that price is making a bunch of liquidity to shoot back up during more volatile hours. Now since we are sill in an uptrend on the hourly and the 4h chart, it be more logical to be biased for a buy. that being said, price has gotten comfortable around the trendline i have marked in red. If we see a break of that trend line we can be safe in saying price will continue to drop. For further verification we can wait for price to break the support just below that trend line (in green).
If price decides to shoot up, we will most likely see a break out candle simply from all the built up liquidity on this little channel we have i guess you could say. Either way, we are ready either direction price wants to go.
But to be one sided im going to be looking for buys before sells simply because of that trendline moving upwards.
Thanks for checkin out my ideas, hope you guys enjoy the content and dont forget to follow me to stay up tp date with my ideas daily!!