GBPUSD: Bailey Supply Wipe 🎯
Looking at this pair from the daily we can clearly mark our LH's & LL's confirming the overall bearish trend.
Although price is suggesting signs of wanting a break away from this trendline holding it together, we must remember that price is still in selling territory until the LH marked is clearly broken.
If we bring this mindset to the 4H we can begin to look for our sell entry points.
Price seems to have 'broken out' of this trendline but the bulls are losing momentum.
LTF's are shifting causing BOS and new order flow.
If price is to continue bearish, I would like to see this most recent OB to hold so we can join sellers.
Trades and updates to follow from this idea.
WE NEVER SET ORDERS WITH NEWS AROUND THE CORNER, WAIT FOR NEWS AND REACT.
Although price is suggesting signs of wanting a break away from this trendline holding it together, we must remember that price is still in selling territory until the LH marked is clearly broken.
If we bring this mindset to the 4H we can begin to look for our sell entry points.
Price seems to have 'broken out' of this trendline but the bulls are losing momentum.
LTF's are shifting causing BOS and new order flow.
If price is to continue bearish, I would like to see this most recent OB to hold so we can join sellers.
Trades and updates to follow from this idea.
WE NEVER SET ORDERS WITH NEWS AROUND THE CORNER, WAIT FOR NEWS AND REACT.
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