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British Pound / U.S. Dollar
Long

My GBPUSD Buy Setup For Next Week

By Elijahenoch7
Updated
Check out this Buy setup for GBPUSD projection for next week move.

GBPUSD

Thoughts Process Behind the Setup:

  • Weekly Time Frame: Bullish plus FVG and bearish order block above price serving as a draw on liquidity.
  • Also, price already retraced to fill the FVG below price. Which means price is now ready to push higher to fill the FVG above.
  • Daily Frame: Price bouncing off daily bullish order block to fill an imbalance.
  • The only setback on daily for now is the bearish order block where price is currently at.
  • 2HR: Price took out sellside liquidity and dropped further into the weekly FVG and then created a shift in market structure leaving a clear FVG behind.
  • Entry: I used my FIB to locate OTE around the FVG which is where i will be placing my limit order for entry.



What do you see on your own chart?
Note
Stop Loss: 1.26068

You can place your stop loss around that area

Take Profits 1: 1.27521

The area will be good for first take profits

Take Profits 2: 1.28004

I will take my second profits here.

Take Profits 3: 1.28583

Final profits will be taking here.
Note
Price is currrently ranging, yet to pick my order.

I believe price is ranging to gather liquidity from both buyers and sellers.

After this accumulation, I expect manipulation of price by going down to fill the fvg below and pick my order.

Then followed by a massive push to the upside.
Trade closed: target reached
Price hit target without picking my buy order.
Note
GBPUSD is still bullish.

But since we just took out external liquidity, i will wait till it retrace back inside the bullish range to rebalance an imbalance or find support at the 4H order block.
I will be buying GBPUSD at any of the discount PD arrays on 4H.

snapshot

I will keep buying GBPUSD till we reach the 1.30043 level on weekly and monthly or till we have a shift in market structure on 4H.
Note
Gbpusd is still moving higher as expected.
Note
1.300 profit target achieved.

Price is still going higher. we are now at premium level on weekly.
fairvaluegapFibonaccifvgfvgmodelfvg_strategyictictconceptsictorderblockimbalanceMultiple Time Frame AnalysisSupply and Demand
Elijahenoch7
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