what i think now about gbp
Updated
double bottom was formed on gbp = retail support
5 hours were given for retail to buy the double bottom so retail accumulates long
consolidation formed a bullish rsi divergence = retail goes long
retail puts protective sell stops below equal lows
market maker takes out sell stops for smart money to buy, retail goes short on breakout.
smart money is long and needs buyers at a higher price
market maker will seek buyside liquidity for smart money to unload longs
5 hours were given for retail to buy the double bottom so retail accumulates long
consolidation formed a bullish rsi divergence = retail goes long
retail puts protective sell stops below equal lows
market maker takes out sell stops for smart money to buy, retail goes short on breakout.
smart money is long and needs buyers at a higher price
market maker will seek buyside liquidity for smart money to unload longs
Trade active
i am in a buy position now. lets see how it plays out. i talked about my target in the last ideaNote
This is what i want to see👍. taking the risk out now
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