GBPUSD - Weekly Accumulation, Manipulation, Distribution

With a similar expectation with EURUSD , I was looking out for a continued selloff, which we got but failed to take the prior weeks lows out indicating that there was a higher probability that a short term relief rally into the premium arrays is more than likely possible.

What we are seeing today is rangebound price action from the 5th Feb 24 with many manipulated bullish spikes to the upside, to and through the 50% equilibrium located @ 1.26451. As long as daily candle body closures are within a discount, it will enable me to be confident that EURUSD bullish run into a premium is just a means of hunting stops with the opportunity for further downside on EURUSD highly likely but I will be observing the charts actively today to see what we have.

My philosophy is simple...

Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.

This includes;

- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!

The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.

Credits;

- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN

Comment:

For the week, we closed 0.50% higher for the week in comparison to the previous week.

My bias was bearish for the week and although I profited from the short-term swings through Sellside, we still ended up closing bullish but within the manipulation wicks of previous days.

1.26451 is still in the cards for next weeks trading. I will also be paying close attention to DXY to see whether buy stops are disrespected