GBP/USD PART 2: 4H view, SHORT coming this week
This is a zoomed in follow-up on my GBP/USD PART 1 setup.
Last week we got rejected pretty hard, failed to make a higher high, dumped and formed this red block on the 4H which should now act as resistance.
I'm expecting the week to open with some further dumping(not worth playing), possibly into the lower red 4H breaker, retrace back into the higher one, and proceed to sell off to the weekly breaker I outlined in PART 1.
Make sure to read PART 1 first to know the higher time frame basis for this setup:
Last week we got rejected pretty hard, failed to make a higher high, dumped and formed this red block on the 4H which should now act as resistance.
I'm expecting the week to open with some further dumping(not worth playing), possibly into the lower red 4H breaker, retrace back into the higher one, and proceed to sell off to the weekly breaker I outlined in PART 1.
Make sure to read PART 1 first to know the higher time frame basis for this setup:
Comment:
Looks like it fell through the second block already. I'd say that's the one that needs to be retested now but it does have a weekend gap that it made so as it stands now nothing's changed, still expecting that original retest.
Comment:
We have the originally planned bounce, now dump!
