GBPUSD 3.5:1 Short
The daily chart is in a downtrend.
The 1h chart is in a small uptrend.
Price may brake internal structure on the 10m.
Price has left inefficiency on the 10m at the top of the move down to break internal structure (if it breaks).
If price creates a new internal LL on the 10m:
Wait for price to pull back up to the inefficiency on the 10m and short targeting a new BOS (current BOS is a 3.37:1 trade).
The 1h chart is in a small uptrend.
Price may brake internal structure on the 10m.
Price has left inefficiency on the 10m at the top of the move down to break internal structure (if it breaks).
If price creates a new internal LL on the 10m:
Wait for price to pull back up to the inefficiency on the 10m and short targeting a new BOS (current BOS is a 3.37:1 trade).
Note
Price has broken internal structure and made a new LL.
If price pulls back up to the 10m entry zone I will short.
Initial target is new LL which is currently a 3.5:1 trade.
Note
Price has closed below the 1h CHOC level which means I will now treat this market as a down trending market.
If price pulls back into the 10m entry area I will now be more confident in this trade due to the now downward bias and reaching back up into the 10m entry zone will take out a lot of liquidity built up.
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