GBP/USD 1D - As you can see this is my mid to long term set up for this pair, I am expecting price to trade us lower longer term due to the higher timeframe BOS to the downside that we have had.
As you can see though we are in the mids of a corrective wave that is currently trading us higher, we can look to take part in this corrective wave once price trades us down and into a valid area of Demand.
You can see I have gone ahead and marked out a hidden order block that I could see price trading down and into to clear before taking us higher in the market. There is also alot of liquidity present there given the red candles, giving us more confluence.
Once price trades us lower and into this area of Demand I will wait patiently for confirmation before I look to take part in this market. Confirmation will come from a penetration and break to the upside.
As you can see though we are in the mids of a corrective wave that is currently trading us higher, we can look to take part in this corrective wave once price trades us down and into a valid area of Demand.
You can see I have gone ahead and marked out a hidden order block that I could see price trading down and into to clear before taking us higher in the market. There is also alot of liquidity present there given the red candles, giving us more confluence.
Once price trades us lower and into this area of Demand I will wait patiently for confirmation before I look to take part in this market. Confirmation will come from a penetration and break to the upside.
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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.