GBP/USD Order Block Zone On The Daily Time Frame
Hi Traders,
Looking at GBP/USD on the Daily today.
Notice the descending trend line since the beginning of the year.
We haven’t broken through this entire year and we have been making lower lows and lower highs all this time.
This means that my overall bias on this pair is still bearish.
I have marked up an Order block zone highlighted in blue.
If we see a retrace up to that zone, I will consider going short only if my requirements with volume are met.
This requirement is that the retracing volume cannot be larger than the bearish impulsive volume that sent the price down past previous support.
If the retracement volume is larger then I will have to re-think and perhaps start looking for long setups.
Trade safe out there!
The Vortex Trader
Looking at GBP/USD on the Daily today.
Notice the descending trend line since the beginning of the year.
We haven’t broken through this entire year and we have been making lower lows and lower highs all this time.
This means that my overall bias on this pair is still bearish.
I have marked up an Order block zone highlighted in blue.
If we see a retrace up to that zone, I will consider going short only if my requirements with volume are met.
This requirement is that the retracing volume cannot be larger than the bearish impulsive volume that sent the price down past previous support.
If the retracement volume is larger then I will have to re-think and perhaps start looking for long setups.
Trade safe out there!
The Vortex Trader