GBPUSD ran its Sellside Liquidity on the left, and will now likely run higher.
Now it looks like GBPUSD wants to make a run up to its Monthly FVG SIBI.
Orderflow is proven Bullish as the Bullish PD Arrays are showing support. We've now come off a FVG and traded bullishly away from it (green rectangle in the chart).
Should we see aggressive moves higher, then the "Buyside Liquidity" will be my next target...
DXY:
DXY has reacted from the monthly FVG I marked up as a potential reaction area (check out the previous DXY analysis).
We now have a Monthly FVG below the current price which I'm looking at as a potential next draw on Liquidity.
(Although DXY is closer to its FVG than GBPUSD's FVG, keep in mind that although these two markets are inversely correlated, GBPUSD usually moves more than DXY).
DXY:
Now it looks like GBPUSD wants to make a run up to its Monthly FVG SIBI.
Orderflow is proven Bullish as the Bullish PD Arrays are showing support. We've now come off a FVG and traded bullishly away from it (green rectangle in the chart).
Should we see aggressive moves higher, then the "Buyside Liquidity" will be my next target...
DXY:
DXY has reacted from the monthly FVG I marked up as a potential reaction area (check out the previous DXY analysis).
We now have a Monthly FVG below the current price which I'm looking at as a potential next draw on Liquidity.
(Although DXY is closer to its FVG than GBPUSD's FVG, keep in mind that although these two markets are inversely correlated, GBPUSD usually moves more than DXY).
DXY:
Order cancelled:
DXY has reached its Monthy FVG, as I pointed out in this analysis. Target was hit.
DXY rejected the FVG to the upside, so from here on I expect DXY to go higher, and GBPUSD will go Lower as a result of that.
GBPUSD didn't reach its Monthly FVG in time, because I needed to see GBPUSD reach its FVG Before DXY reached its FVG. Since DXY hit its FVG first, I expect GBPUSD to go lower, so, therefore, I hereby cancel this idea for now.
DXY rejected the FVG to the upside, so from here on I expect DXY to go higher, and GBPUSD will go Lower as a result of that.
GBPUSD didn't reach its Monthly FVG in time, because I needed to see GBPUSD reach its FVG Before DXY reached its FVG. Since DXY hit its FVG first, I expect GBPUSD to go lower, so, therefore, I hereby cancel this idea for now.
Trade active:
DXY is showing weakness again, and I stand by this Bullish idea until further notice
Comment:
Pay attention to how the candles' bodies are respecting the FVG High. I like that.
Trade closed: target reached:
Target Smashed.
Comment:
Price traded all the way to the top of the FVG to fill, and then rejected. Beautiful price delivery.
It's currently respecting the 50% Consequent Encroachment of the gap:
It's currently respecting the 50% Consequent Encroachment of the gap: