Nice reaction from entry on GU. 1% locked in.
personally im still bearish on this pair, but I don't feel like the bears are ready to push price lower just yet. I believe we are creating some liquidity above these highs to grab to potentially reach lower prices. Lets see how this plays out!
Clearly we've seen a huge reaction from an old daily OB but this doesn't mean GU is dead. personally looking for a deep pull back to entice plenty of bears into the market with a "break of trend line and structured support" Will be looking for a reaction for an Untapped Daily OB and a clearance of some old Imbalance. Once we have enough sellers in the market we...
Just an update on my previous idea, support was wiped beautifully trapping sellers and taking out early buyers. We now have 1:3RR locked in and will be looking to take it up to a LTF OB where ill look for potential shorts.
Going to be looking to take a long postion below support from a lower timeframe OB. looking for early buyers to be wiped out to give us some momentum to the upside. Personally im still bullish against the dollar, higher timeframe orderflow is still clearly bullish IMO.
Potential wyckoff distribution forming on AUDUSD
Expecting to see USDJPY reach an old untapped daily OB to mitigate some old postions and entice more buyers into the market before a sell of towards imbalance before longs to completely mitigate daily block. Lets see how this one plays out!
lets see if we get a true creation of another "double bottom" to entice some more buyers into this market before taking them all out and potentially seeing new lows before a true bounce.
will be looking to target weekly imbalance long term and potentially and untapped order block.
As we see here, my trade was never triggered in. But ofcourse I class this as a win, because the ideology behind the trade was spot on, but the entry wasn't quite right!
repost of previous idea as screenshot wasn't correct. as predicted weve recently broken through EQL and are headed towards an untapped OB. if this is enough of a liquidity grab I could see us making new highs from here.
Potential grab of liquidity below lows, fill some imbalance and find on old untapped OB before making new highs
hey all. im going to be looking to go short on GBPAUD. reasons being: -It seems the daily retracement has potentially been completed -Confluence of a beautiful head and shoulders pattern on th 4H timeframe -Sitting at the Daily retest zone around 1.7650 A more conservative entry would be wait for a break and retest of the neckline for a continuation trade.
seen a slight move lower after the long term consolidation, now were sat at a 50% retracement of the large daily move up and seeing a double bottom form on the hourly, potentially looking for long trades from here.
looking for potential buys on EURNZD. key points. - we are at the bottom of a descending wedge pattern. - this pattern lines up with a dails key zone at 1.75
we have a few confluences for a long position here. 1. trend line bounce 2. bear flag bounce 3. 200 ema bounce
market has rejected this zone multiple times so will be looking for potential buys here.
looking for retracement back to 1.17 for continuation to the downside. very bearish market.