GBPUSD Targeting Asia Liquidity
Updated
The price right now is in a bullish intermediate trend after the big sweep of liquidity occurred taking out the lows.
What I am seeing that is making me bearish is the reaction from that extreme Supply Zone which means that the price did not want to go higher.
Another bearish confluence is the presence of a Support created during Asia which is known to be a liquidity buildup for other sessions.
There can be a mini bullish trend until that Supply zone will be reached.
Inside that zone I will be waiting for a clear shift, and a Demand flip or Fail to minimize the risk of trading counter trend.
This can be the start of a retracement on the 4h chart to mitigate the Demand Zones
What I am seeing that is making me bearish is the reaction from that extreme Supply Zone which means that the price did not want to go higher.
Another bearish confluence is the presence of a Support created during Asia which is known to be a liquidity buildup for other sessions.
There can be a mini bullish trend until that Supply zone will be reached.
Inside that zone I will be waiting for a clear shift, and a Demand flip or Fail to minimize the risk of trading counter trend.
This can be the start of a retracement on the 4h chart to mitigate the Demand Zones
Note
liquidity got taken out.Note
Demand Zone Reached. Now waiting for a 15m change of structure.
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