GBPUSD: Day 3 breakout traders short, first green day
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“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
2. SIGNAL DAY
3. WEEKLY TEMPLATE
4. THESIS:
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
- Monday DAY 1 Opening Range
- Tuesday DAY 2 Initial Balance
- Wednesday DAY 3 (reset DAY 1) Mid Point Week ✅ day 2 cycle
- Thursday DAY 2
- Friday DAY 3 Closing Range
2. SIGNAL DAY
- First Red Day
- First Green Day ✅
- 3 Days Long Breakout
- 3 Days Short Breakout ✅
- Inside Day
3. WEEKLY TEMPLATE
- Pump&Dump
- Dump&Pump ✅
- Frontside ✅
- Backside
4. THESIS:
- Long: primary, three days dump and pump starting from monday, day 3 shorts and first green are a potential bullish signal. This morning the market broke higher, started quickly dumping back into the yesterday closing price, eventually consolidating during the whole London session. After the news I will be looking for a buy low on the CP or current LOD, targeting the HOW
- Short: secondary, yesterday NY session placed a lower low into the LOW, before starting pumping back up. I cannot exclude the market going back to retest or break the LOW. I would be interested in this scenario if the price comes back into the current HOD, locking it for a reversal trade
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
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