BEARISH SENTIMENT ON GBPUSD
Here’s a monthly long term bearish sentiment I’m seeing on GBPUSD.
The confluences for this bearish sentiment are 1) Market Structure(BoS), 2) IMB-SUPPLY, 3) IMB, 5) Liquidity(Entry & Exit).
So price has successfully retraced back to the Supply zone where i want to sell off. I don’t know yet if it has really started selling off cause price looks like it has touched the Supply zone but going down to the daily timeframe price haven’t touched the Supply zone yet. So I think there will be some little up push to finally touch to mitigate the Supply finally. I will execute both ways, Aggressive entry which is as my sell scale is placed already and also I’ll look for lower timeframe of weekly,daily to 1hr for Confirmation(ChoCh) entry model if it emerges. My profit target is minimum of 1:3rr and above.
Note: the market is all probabilities which also makes my analysis a probability
The confluences for this bearish sentiment are 1) Market Structure(BoS), 2) IMB-SUPPLY, 3) IMB, 5) Liquidity(Entry & Exit).
So price has successfully retraced back to the Supply zone where i want to sell off. I don’t know yet if it has really started selling off cause price looks like it has touched the Supply zone but going down to the daily timeframe price haven’t touched the Supply zone yet. So I think there will be some little up push to finally touch to mitigate the Supply finally. I will execute both ways, Aggressive entry which is as my sell scale is placed already and also I’ll look for lower timeframe of weekly,daily to 1hr for Confirmation(ChoCh) entry model if it emerges. My profit target is minimum of 1:3rr and above.
Note: the market is all probabilities which also makes my analysis a probability
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