Can we get the Pullback?As we come to close out the week Im feeling like the bearish pressure for the week is over. We could possibly get a pull back from this zone before they continue with bearishness next week.
Gu
Bearish Pressure confirmedfinally seeing the Bearishness we've been looking for. I think it will continue from here. Might get a pull back for entry but I would not be surprised if it does not give it.
GBPUSD 7/4/23GU following our markups from way back at the start of this year, i am really liking the look of this markup along with its sister pair EU.
Overall breakdown of this pair is for the weekly chart to produce a new low... we got this last week, following that structure bring made we now have to put in our weekly high to follow down again into a new low which again will lead us straight into our overall bias which is for price to follow the down trend direction and hit the liquid sorted out our major low to the left.
Hourly chart gave us a shift higher breaking our last high as marked, showing us that we are most likely going to follow the bullish trend we created from that shift meaning we either go bullish to our POI above as marked or we hit our buyside origin and come down to put in a new hourly low to then carry price higher, either of these will work for us but i am more interested in the major sells to follow after this shift.
follow price action trade your plan and read what price is telling you!
GBPUSD 4H Inverted Head & Shouldes4H Inverted Head and Shoulders
30min Inverted Head & Shoulders as well. Expecting a pull back to 1.26180 area before continuing to the upside. Looking for TP area at 1.28000 .
GBPUSD 30m Inverted Head & Shoulders 30m Inverted Head & Shoulder.
Top of pattern is the breakout for another inverted Head & Shoulder on 4h.
See link below.
Could price be changing direction?As I watch the price action I am seeing a lot of fighting between the bears and bulls and we could see price change direction and go bullish on GU for a moment.
indecisive price action! take cautionPrice does not have a solid direction so we are monitoring to see how it reacts to news. Looking for monthly lows to be taken before a direction is given.
GBP/USD short term longs to shorts 1.26000 back up to 1.27200I am currently holding a bearish view on GU, and I'm patiently waiting for a deeper pullback toward the primary supply zone. However, there's a nearby 1hr demand zone where we might witness a bullish reaction. If this zone fails, which is possible given the ample liquidity below, there's also a deeper demand zone just beneath it. We need to wait patiently to see how price behaves.
If price continues to rise, reaching the Asian high and trend line, it would strengthen my bearish bias and provide additional confluence for potential sells. Conversely, if price declines further, I'll be on the lookout for Wyckoff accumulation to unfold in either of the demand zones.
Confluences for GU short term buys are as follows:
- Price left lots of liquidity to the upside as well as an asian high that needs to get taken
- There is two 1hr demand zones that could initiate the expected pullback yet to come.
- For my sell bias to come into play, price must rally up which hasn't happened yet.
- Imbalances are left above that need to get filled.
P.S. If price continues to decline, I'll wait for a new supply zone to form and then consider selling from that point. Ultimately, the majority of liquidity remains situated below, influencing this decision.
GBPUSD 31/4/24GU giving us another pretty simple view on price here, bearish across the board which is telling us 2 things, a new low is likely to be created soon or we will pullback before we put in this new low!
so it gives us 2 ideas of what we want to see, firstly we sell off from the BOS on the hourly timeframe and we put in a new low before we have any kind of bullish PA overall that would mean dropping off from where we closed on Friday. the second option for us is price to pullback and give a higher zone for entry into the new low, this would of course be the nest pace to sell from but i am not banking on it happening.
Main view is put in a new low and follow the higher timeframe bearish PA!
Trade safe and follow your rules!
Continuing Bearish price actionI'm still bearish going into this week on GU but waiting for the week to set up before getting active. We can see the most recent highs taken out before they continue with the bearish price action. Just have to be patient and wait.
GBP/USD Shorts from 1.27200 back downMy bias for GU is downward, expecting a minor retracement before a continuation of the downtrend. Currently, I'm monitoring for price to rise and reach the newly identified supply levels, particularly focusing on the 20-hour supply zone for its high quality.
Observing the reaction at the first 4-hour supply, I anticipate a possible minor reaction, though I foresee it ultimately failing due to the presence of an Asian high above. Once price reaches the 20-hour supply area, I'll be watching for signs of a Wyckoff distribution pattern to form, signaling a potential opportunity to sell back down.
Confluences for GU Sells are as follows:
- Price broke structure the downside and left a clean 20hr supply zone.
- Imbalances that needs to b filled before tapping into the supply.
- Lots of liquidity below in the form of asian lows.
- Price is overall bearish on the higher time frame.
- I can see the dollar to rising more to the upside.
P.S. While I anticipate further price drops, it's improbable without addressing the imbalances and supply levels above before further downward movement occurs.
Have a great trading week!
GBPUSD 24/3/24GU chart here on the hourly timeframe i am looking at again 3 setup ideas all will a line with the higher timeframe analysis as we spoke about in the EU markup.
so overall we have a bearish shift into the higher timeframe bias alignment, i am looking for the following, a bearish shift to follow the current order flow on the hourly chart, this would lead us into the demand zone lower or we see a bullish run early on to lead us into the bearish supply zone highlighted above current price, mainly i don't expect it to shift bullish on the higher timeframe and think we will remind bearish for the start of this week at least. As always i stand open for price to either confirm or deny my idea and then we trade based off our rules being met!
have a great trading week guys and trade safe!
The Bearish Price action continuesI had previously mentioned price is extremely bearish on GU. We got that push down for Thursday's sessions. From here it could retrace or just move sideways going into the new week. But have to wait for price to show its hand.
GBPUSD OUTLOOK 4hMy scenario #1 is that GU goes for the LQP then sweeps the stockout module which is also a liquidity pool and we continue down>
#2 scenario is we just go down without comming back to balance.
What do you think?
LQP = Liquidity Pool
RBD = Rally Base Drop Supply Zone
2WT = 2 Way Trap
Price pulling back but still bearishGU now looks like it might have ran out of steam pushing down and now needs to pull back to grab liquidity. Remaining cautious but looking for the next solid sell opportunity. for now I will take this as a opportunity to scalp the pullback.
GBPUSD 17/3/24Second mark-up of this week from GU, now overall you will see this is again following the same basis as the last weekly mark-up we gave out expecting price to drop lower before moving up and taking out our highs.
We got our drop last week with some short term bullish price action to follow but we now have price sitting at the ideal point within the market and we are now ready for the main move to play out!
As shown we have 2 setups we would like to follow coming into this week, firstly would be more bearish PA leading us down into the lows and then going bullish once confirmed.
second setup would be a run of the highs then longing into the new high after a sort pullback.
Trade what we are given not what you want to see!
Price is stalling but Im still bearishLast week we got all bullish price action on GU. This week I dont feel like we will get more of the same but I have to wait and allow for the set up to show itself before getting active.
GBPUSD the Bullish Wave continues ? (150pips+ trade idea)hello guys ,
as you can see gbpusd just started a major bullish wave last week .
the price first was consolidating (accumulation) , formed a double bottom reversal pattern on a support level (manipulation) then continued with an expantion (distribution).
a classic AMD / PO3 pattern.
am waiting for the price to retrace towards the poi where there is an overlap of a breaker caused by last cpi a bullish orderblock and the fibbonacci golden zone .
GBPUSD Pullback Pending (1.29500 back down)My bias for GU this week is centered around anticipating a pullback to address the imbalances left behind. This week has witnessed a significant bearish trend for the dollar, leading to increased bullish pressure on GU. Given this scenario, it's evident that price hasn't experienced a healthy pullback yet, which is overdue.
Therefore, I'll be patiently waiting for price to reach my 8hr supply zone, where I anticipate a wyckoff distribution to form. Once I receive confirmation on the lower time frames, I'll initiate sell positions. However, if price decides to drop before reaching the supply zone, I'll consider buying opportunities from the 6hr demand level back up to the designated supply zone.
Confluences for GU Sells are as follows:
- Price overall on the higher time frame like weekly and monthly is still bearish.
- Bullish pressure has been excessive and its due for a pullback.
- Nice supply zone on the 8hr that has caused recent break of structure.
- Lots of imbalances left below left from NFP event that needs filling.
P.S. Given the premium level of this supply zone, I prefer to observe price action slowing down. However, I'll exercise caution and focus on trading opportunities primarily on Monday, Wednesday, and Friday. Tuesdays and Thursdays are notably packed with significant economic events such as CPI & PPI.
Have a good week traders and preserve capital on those days!
Will we get Bearish Price action for the week?Going over what we are seeing on GU. Looking for a breakdown from this location. As it has meet the objective of filling in liquidity on the upside. Just waiting for confirmation that it is done at the point.
GBPUSD | MY SHORT TERM VIEW | M30Why did the inducement fail? It failed because it was only minor/medium inducement. It gave a reaction, trapped traders to start selling. Not only support and resistance players got trapped but also people that look at liquidity (SMC etc.)
Before shorts I at least expect GU to fill the imbalance curve.
LQP = Liquidity Pool
2WT = 2 Way Trap
Arrows = inducement
GBPUSD 3/3/24GU is almost a carbon copy of EU except for some small points, we are used to seeing the EU and GU pairs be almost the same as they are in my eyes almost sister pairs along with many others, but we also have to look at each of them for the unique signs they give us, now EU dropped lower and stayed within a bearish swing range. BUT GU has shifted back into a bullish swing range meaning we have alot more of a chance of seeing an A setup (sweeping the swl) before going higher, leading into the same idea we have for EU a drop lower and then a push higher!
trade safe follow price action and have a great week!
GBPUSD Longs from 1.26200 back up to 1.27400I still maintain a bearish outlook on GU; however, there's significant liquidity gathering around the marked trendline above. Consequently, I anticipate this liquidity to be taken out first, creating a CHOCH to the upside. Once this transition occurs, I expect a retracement back to the newly identified 4hr demand zone.
This temporary upward movement is envisioned to enable price to address the existing imbalance fully, eventually reaching the 20hr supply zone where potential selling opportunities lie. I'll be monitoring for the emergence of a Wyckoff distribution pattern within that zone, signalling the continuation of the bearish trend.
Confluences for longs are as follows:
- Price has swept liquidity now pushing higher with momentum.
- There's a new 4 hourly demand zone that has been created.
- lots of liquidity to the upside like asian highs and trendline liquidity.
- For price to continue going down I see imbalance getting filled as well as the 20hr supply being respected.
P.S.This is a temporary idea that I have but I wouldn't be shocked if this recently established 4hr zone is breached, potentially reaching the 10hr demand zone I've identified below. However, considering that price has now cleared out liquidity, I anticipate further upward momentum for now.
Have a great trading week guys!
