GBPUSD looking to short at 1.2895
London had a nice liquidity spike around 4am. It looks like a liquidity spike to me because we had such a strong rejection back under the equal highs it tried to clear, for this reason I think it is a false breakout and they are going to move price towards peoples stop losses, Which should be just below those equal lows. I believe price will drop a bit further and fulfill the bottom tp level because that is another level on the daily where people most likely have stop losses or positions sitting.
Entry will depend on the 1min and 5min chart behavior and time of day the signal comes in.
Status: WATCHING
I'm 5/5 on the pound this week. That could be a good thing or a bad thing lol
London had a nice liquidity spike around 4am. It looks like a liquidity spike to me because we had such a strong rejection back under the equal highs it tried to clear, for this reason I think it is a false breakout and they are going to move price towards peoples stop losses, Which should be just below those equal lows. I believe price will drop a bit further and fulfill the bottom tp level because that is another level on the daily where people most likely have stop losses or positions sitting.
Entry will depend on the 1min and 5min chart behavior and time of day the signal comes in.
Status: WATCHING
I'm 5/5 on the pound this week. That could be a good thing or a bad thing lol
Note
move to break even, they may reverse it up before week close, risk free trade now
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.