GBP/USD THE NEXT BIG SHORT
GBP/USD 4H - You can see to the left of the screenshot how we took full advantage of the longs trading all the way up and into the Supply Zone above, I then posted some analysis about taking the market short from that same Supply Zone.
Price has played out extremely well since mid July, giving us the bearish structure we predicted in the market, this giving us the opportunity to take the market short, the beginning of August we saw that the structure flipped.
Price then began putting in bullish structure again and I think this is because price is correcting itself initially before it continues the bearishness taking us lower. I have gone ahead and marked out an area of interest that I have in mind.
I would love to see price trade us up and into the area of Supply and for the S&D balance to flip breaking structure to the downside, confirming the end of the correction and the start of the next impulse.
Price has played out extremely well since mid July, giving us the bearish structure we predicted in the market, this giving us the opportunity to take the market short, the beginning of August we saw that the structure flipped.
Price then began putting in bullish structure again and I think this is because price is correcting itself initially before it continues the bearishness taking us lower. I have gone ahead and marked out an area of interest that I have in mind.
I would love to see price trade us up and into the area of Supply and for the S&D balance to flip breaking structure to the downside, confirming the end of the correction and the start of the next impulse.
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.