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)
  • 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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