GBP/USD Weekly Neutral/Bullish Outlook (21.10 - 25.10)
Happy Monday traders :)
On Monday, I observed that the Tokyo (Asian session) failed to take out previous day's high and failed to fill in a daily FVG on EU, leaving a lot of sell-side liquidity yet to be taken..
The buyside liquidity I marked was taken out during the American session. For the following week, I expect a continuation/doji on Tuesday, followed by a reversal on Wednesday, taking out the Draw on Liquidity (DOL) marked, for a liquidity grab, to continue higher. [LONGS]
However, if buying pressure is not strong enough, we may continue lower. (This is expected fundamentally due to the conflicts happening, which strengthens the USD.) [SHORTS]
Ideally, I want to see price go for a grab as mentioned, then rally to my DOL mentioned at the start. From there I would want to look for shorts. [LONGS]
However, once again, due to fundamentals, if buying pressure is not strong, we may continue lower. [SHORTS]
On Monday, I observed that the Tokyo (Asian session) failed to take out previous day's high and failed to fill in a daily FVG on EU, leaving a lot of sell-side liquidity yet to be taken..
The buyside liquidity I marked was taken out during the American session. For the following week, I expect a continuation/doji on Tuesday, followed by a reversal on Wednesday, taking out the Draw on Liquidity (DOL) marked, for a liquidity grab, to continue higher. [LONGS]
However, if buying pressure is not strong enough, we may continue lower. (This is expected fundamentally due to the conflicts happening, which strengthens the USD.) [SHORTS]
Ideally, I want to see price go for a grab as mentioned, then rally to my DOL mentioned at the start. From there I would want to look for shorts. [LONGS]
However, once again, due to fundamentals, if buying pressure is not strong, we may continue lower. [SHORTS]
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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.