Get started
British Pound / U.S. Dollar
Short
Updated

GBPUSD: Could continue moving down to take 1.26000 level

120
Yesterday price moved down to take sell side liquidity (SSL 1H TAKEN line) then moved back up. It is possible for price to continue moving up to take buy side liquidity (BSL 1H line) which is also the area of hourly 79% Fib level, the deepest OTE level and the previuos day high. A lot of reasons for that area to be taken before moving down to take the 1.26000 level
Trade active
After price took buy side liquidity (BSL 1H line) which is also the area of hourly 79% Fib level, the deepest OTE level and the previous day high, I went down to a lower timeframe and waited for a Market Structure Shift (MSS) and fair value gap (FVG) and set a sell limit at the FVG.
Note
snapshot
Paul_FRX
Also on:
Beyond Technical AnalysisGBPUSDguictictconceptsictfairvaluegapsictorderblocksictoteictsetupicttrader

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Beyond Technical AnalysisGBPUSDguictictconceptsictfairvaluegapsictorderblocksictoteictsetupicttrader
Paul_FRX
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.