We are at a very interesting point right now with GJ approaching support levels from October 23rd and even recent lows all the way from July. If we do not respect these lows and support zone GJ could be in trouble and will look to the downside coming end of Q4 into Q1. On the other hand if we can hold this support and look positive on the lower time frames we...
As anticipated the BoE opted to maintain interest rates at 5.25% giving us the hope we will remain bullish on GU. Knowing this insight and hopefully seeing and continuous bullish PA we can see GU tap into this 4H demand that helped price break new highs and has a handle of 1.26500. Will wait for lower time frame conformation once we mitigate.
If we can mitigate this 4H demand and still hold this previous level EU used for support we could potentially see price penetrate last structural highs from this area with the DXY moving to the downside also. Will wait for lower time frame conformation if we get the mitigation.
Had some really nice PA on GA and after our Distribution breaking out of that weekly consolidation we are current holding a 4H demand that caused this price action. Waiting on a lower time frame conformation before being sure about longs and the current state of GBP could be on the downside before annually figures are released for this year.
Currently holding this 4H demand after dropping into a new low for last week after a better then then expected US NFP gave the USD one last push before market closure. USD economic releases has destroyed the data docket this week and the UK not no where as much showing the decline in the pair. Will monitor this pair in the upcoming week and see if we get any...
Will be waiting on the correct lower time frame development if we mitigate this 4H demand below. Using the current zone we are holding now as liquidity will give us an extra confluence for when we mitigate our zone and have the correct lower time frame development.
Fake demand just been swept and with price on the higher time frames moving bullish i can see this 4H demand with a handle of 0.87000 being mitigated and carrying on our bullish momentum from here. Once we mitigate will be waiting on the correct lower time frame conformation before going long of this zone.