Institutional Supply: GBP/USD Short
Last one? haha
A lot of good things are shaping up, so I'll share one more to end it off today.
GBP/USD is looking very good for a bearish move, just like hybrid opportunity shared last week on GBP/CAD. As you can probably spot now, the pattern is very similar right as EJ & GJ.. this is what I love from trading.
The only task you have as a trader is finding a mechanical trading strategy, and repeat those rules everytime. For GBP/USD price is rejecting weekly supply and by doing that we just created a new area of daily supply which I shared on my chart above. Whenever price decides to come back to this level, I'll be waiting patiently for the lower-timeframes to develop the right way and see if we can see price tank from there!
Depends a bit on the DXY as well, price can go way higher for the dollar (see my dollar post) thus pushing this one lower, preferably after we pullback to this supply though.
Let's see! Have a great friday :)
Kind regards,
MNieveld
A lot of good things are shaping up, so I'll share one more to end it off today.
GBP/USD is looking very good for a bearish move, just like hybrid opportunity shared last week on GBP/CAD. As you can probably spot now, the pattern is very similar right as EJ & GJ.. this is what I love from trading.
The only task you have as a trader is finding a mechanical trading strategy, and repeat those rules everytime. For GBP/USD price is rejecting weekly supply and by doing that we just created a new area of daily supply which I shared on my chart above. Whenever price decides to come back to this level, I'll be waiting patiently for the lower-timeframes to develop the right way and see if we can see price tank from there!
Depends a bit on the DXY as well, price can go way higher for the dollar (see my dollar post) thus pushing this one lower, preferably after we pullback to this supply though.
Let's see! Have a great friday :)
Kind regards,
MNieveld