FOREXCOM:GBPUSD My bias for the new week is bullish. Price is respecting the old high on weekly time frame. Last week candle close suggested that price is interested in pricing higher for this new week.
There is nothing too significant based on last week's candle. My only observation is that it created equal lows and ended with a green candle. Based on my analysis on the DXY, I could see that weekly candle being a catalyst to induce the bulls into the market. The only concerning thing is the Commitment of Trader report with large specs still being heavily...
Price continues to show higher highs and could continue moving higher. Yesterday price broke the buy side liquidity (BSL 1H line) then pulled back down. It could continue moving down to take the sell side liquidity (SSL 1H line) and even the 79% Fib level (OTE level). Waiting for these levels to be broken and see if it will provide setup to get long. But since...
After making a double bottom (yellow circle) price moved up and continued to make higher highs. It could continue to move high to take the 1H buy side liquidity (BSL 1H) or even the 4H buy side liquidity (BLS 4H). On the 15m time frame, it is currently forming a double bottom (yellow line), which is also around 70.5% Fib level (an OTE level). Waiting for price to...
4H internal switched bearish last week and we just broke below again giving us a clearer range to look at. 15 Min is bearish as well and I'll be looking to short in the next few days
Yesterday price moved down to take sell side liquidity (SSL 1H TAKEN line) then moved back up. It is possible for price to continue moving up to take buy side liquidity (BSL 1H line) which is also the area of hourly 79% Fib level, the deepest OTE level and the previuos day high. A lot of reasons for that area to be taken before moving down to take the 1.26000 level
On the weekly timeframe I have a POI for a potential reversal to the upside (or at least a retracement), which is at a 2 week FVG, possibly digging into the weekly wick Consequent Encroachment slightly below. Price recently reacted off the high of a NWOG this week. I am keen to see how it plays out from here. -R2F
Last monthly price fell short of a monthly FVG and this month retraced lower that last month's low. Price is currently finding some support at a confluence of PD Arrays (Monthly Order Block, Monthly Breaker Block, and Consequent Encroachment of a inverted monthly wick). I have no bias at the moment on this timeframe as price could go either way, and we may see...
GU giving us a textbook markup here, we have a very clean internal price action move with a bullish short term swig higher, this is perfect to lead us into our overall swing range which we are expecting to sell lower, this will lead us nicely into what we expect for the USD pairs which is a sell off into a huge upside move. We are looking for sells from our high...
Price is still pretty rangebound. It left a long wick at the top then aggressively moved to the downside leaving fair value gaps and taking sell side liquidity (SSL 1H TAKEN line) before moving back up to fill up the fair value gaps. Price could continue moving up to take the bearish order block, which happens to be also the 62% Fib level and this Fib level is...
GU has been ranging this week, breaking highs and lows. It could continue to range until it gives us a sign that it wants to break out of the range. Yesterday it moved aggressively to the upside taking multiple upper side levels then followed by an aggressive move to the downside, taking some bullish order blocks and sell side liquidity. It also left fair value...
GU has been ranging this week. Ranging between the 1.27900 & 1.26800 areas. Currently it is at the lower part of the range and it is likely to continue down to take the 1H bullish order block or even the 1H sell side liquidity area. Order blocks and liquidity levels acts as magnets, so it is likely for price to move towards these levels I am looking for possible...
My bias on DXY is neutral and this is the same with my bias on GBPUSD on higher time frames. But looking on the 1H time frame it is more likely for it to move up because there are a lot of order blocks, buy side liquidity sitting above waiting to be taken (green lines above). There is also an equal high (yellow box). Prior price shows that it took multiple bullish...
Price did not break above last night and we are currently ranging on the 15 min. I've explained the 4 possible scenarios we could see play out
The 15 minute setup is playing out quite nicely. Going to be looking for a re entry tomorrow as well this time leaving the full position open to target the 4H high. I will start posting more trade updates like this regularly after my analysis
Here is my analysis on GBPUSD I’m expecting price to correct pulling back into my FVG area where I’ll wait for confirmation to take the short trade.
Analysis: This has been a beautiful pair to trade recently and now we've got another opportunity setting up. Firstly looking at the chart it's clear to tell that we're in an upwards trend. We're forming higher highs and higher lows which confirms what we're seeing. We also have an upwards trendline which is being respected, again showing us that we're in an...
after taking the Buy side liquidity as in 1.28740 GBPUSD hence a short-term sell to 1.28067