gbpusd
Updated
as predicted, were seeing bullish momentum to reach our point of control.
to summerise this trade and confluences, on the
weekly we're bearish - worth 10%
daily bearish - 10%
4hr bearish - 10%
1hr bearish 10%
thats 40% probability that if i press sell, i will win.
in recent price action ive noticed some accumulation before a break of london session. Asian session was all consolidation, price ranging, which would need to be accounted for.
using the frvp i quickly located a point of control just after we saw a break in london session. this now becomes our point of interest, if price retraces to this area, taking a position from here could be quite ideal.
10%
fvrp. this tool records where the most volume sits at one price, this price is interesting to us as the big banks aim to trade from this area.
10%
we know that this area is strong as it had caused a wipe and break of all lows in the previous bear run.
10%
we see what order block lines up perfectly with the red line shown to us right before the breakand we need to see imbalance being left behind.
10%
80% trade probability so we wait for price to come up in this area and take the trade (if my zone is right), ill be waiting for rejections on the 1 minute order block ive located mainly but a 5 minute rejection will do just fine, stop loss super tight and aiming for 15RR
to summerise this trade and confluences, on the
weekly we're bearish - worth 10%
daily bearish - 10%
4hr bearish - 10%
1hr bearish 10%
thats 40% probability that if i press sell, i will win.
in recent price action ive noticed some accumulation before a break of london session. Asian session was all consolidation, price ranging, which would need to be accounted for.
using the frvp i quickly located a point of control just after we saw a break in london session. this now becomes our point of interest, if price retraces to this area, taking a position from here could be quite ideal.
10%
fvrp. this tool records where the most volume sits at one price, this price is interesting to us as the big banks aim to trade from this area.
10%
we know that this area is strong as it had caused a wipe and break of all lows in the previous bear run.
10%
we see what order block lines up perfectly with the red line shown to us right before the breakand we need to see imbalance being left behind.
10%
80% trade probability so we wait for price to come up in this area and take the trade (if my zone is right), ill be waiting for rejections on the 1 minute order block ive located mainly but a 5 minute rejection will do just fine, stop loss super tight and aiming for 15RR
Note
as the trade continues i forgot to mention all of the liquidity that is currently being built up just to reach our point of interest
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