GBP/USD 1H - As we can see above price has broken structure to the upside, this confirms that this higher TF impulsive wave that took the market lower has finished and the correction is in play.
We now want to see this corrective wave continue its bullish momentum up into our Supply zone that we have highlighted round 1.2376-1.2401 region.
Once price penetrates this zone assuming enough Supply is introduced we should see an end to this correction and the start of the next impulse taking us lower into the market, breaking previous structural lows.
As you can see I have highlighted the last higher TF structural low and marked it as an area we should look to take profit from, from any sells we place, this is to guarantee that out TP is achieved.
As we know, bearish structure consists of Lower Highs and Lower Lows so we should see price surpass this higher TF structural low that I have highlighted.
We could look for fractal demand zones for price to pullback into, this is where we could look to buy into this market and ride price up into our Supply zone.
We now want to see this corrective wave continue its bullish momentum up into our Supply zone that we have highlighted round 1.2376-1.2401 region.
Once price penetrates this zone assuming enough Supply is introduced we should see an end to this correction and the start of the next impulse taking us lower into the market, breaking previous structural lows.
As you can see I have highlighted the last higher TF structural low and marked it as an area we should look to take profit from, from any sells we place, this is to guarantee that out TP is achieved.
As we know, bearish structure consists of Lower Highs and Lower Lows so we should see price surpass this higher TF structural low that I have highlighted.
We could look for fractal demand zones for price to pullback into, this is where we could look to buy into this market and ride price up into our Supply zone.