Yes, we're bullish on the Daily timeframe. This is a continuation of the 4H bearish pullback. For me, we're not far enough into the discount leg of the daily swing. I'd like to see some of those hefty imbalances get filled first.
Risky, given that we've only wicked that recent 4H swing low, so waiting for 15m confirmation within that 1H extreme OB. Targeting the 4H swing low for a 2.5RR.
We could switch up, and rally up now, but the DXY is showing some more potential upside strength in the short term. So, this aligns well with my notion of more GBP downside, ahead of the next rally up!
Risky, given that we've only wicked that recent 4H swing low, so waiting for 15m confirmation within that 1H extreme OB. Targeting the 4H swing low for a 2.5RR.
We could switch up, and rally up now, but the DXY is showing some more potential upside strength in the short term. So, this aligns well with my notion of more GBP downside, ahead of the next rally up!
Trade active
Lot of liquidity getting built towards this bearish POI which is a great sign. Also, important to note that there's a tonne of liquidity above too. However, seeing as we're bullish on the daily, this provides extra confluence towards a longer run to the upside once we've cleared some of the imbalances further into the discount leg. Still awaiting bearish 15m confirmation within that 1H POI.
Patience, the markets are slowwww with the uncertainty of the tariffs. No position is a position, protect your capital. Or, at the very least, prove to yourself that you're capable of discipline - it'll take you far.
Trade closed: target reached
Didn't tap into the extreme, but there was a clean 15m entry if you care to look. I personally didn't take it, but games the game. More will come with this recent 4H leg, nice to see that the idea played out. HTF is your friend, folks.
Will post my next analysis if it plays out
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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.