Can go long up to red line, then short down to main entry for a long term buy, as you can see the long position can reverse at 7344.9 or break through to our next sell zone. Either way we will keep an eye on it for further decisions.
With the US on lockdown... people staying at home... less people working, unemployment rate in my opinion should have increased on the new report, we should see foreign investors pulling out of USD and pushing into GBP ...
Buyers are trapped, price has to reverse back to the bearish institutional showed by the red line in the middle to break even ... trade could run after that all the way to the top for TP2. Depending on price action.
Liquidity placed above triple top, banks will push price down to entry to grab more sellers , they will also break even on their long positions and then drive price to break the triple top hitting all stop losses. 2 possible entries, will update with price action in a couple of hours
Triple top, enticing sellers to go short, banks will hit their stop loss at entry which follows up on a institutional candle from before, current bearish engulfment shows retail traders there’s hope for sell, SL will get hit at entry then ride it back down. Banks also break even at entry.
Price has formed an M... enticing retail traders to sell, price also has been on a downtrend which confirms retail traders to sell even more, banks grabbing as much as liquidity as possible before the big rise.