GBP/USD 1H - As you can see I have gone ahead and marked out some areas of interest I would like to see price come and clear before a further down move. Once price trades us up and into one of two areas we can begin looking to go short.
It is important we are patient and allow price to play out as we want and need it to before we look to take part, allowing price to trade us into said zones, gives us the opportunity to get involved in this market with a more refined entry.
We could look to take part in some temporary long positions whilst we prepare to take part in shorts, whilst this is trading against the prevailing trend it is following the current corrective wave.
So buying in would hold some risk just as price could realistically flip to the downside at any point should enough supply be introduced into the market.
It is important we are patient and allow price to play out as we want and need it to before we look to take part, allowing price to trade us into said zones, gives us the opportunity to get involved in this market with a more refined entry.
We could look to take part in some temporary long positions whilst we prepare to take part in shorts, whilst this is trading against the prevailing trend it is following the current corrective wave.
So buying in would hold some risk just as price could realistically flip to the downside at any point should enough supply be introduced into the market.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.