GBP/USD Shorts from 1.27400 pro trend idea.
My previous scenario (A) for GU unfolded precisely as expected, with the bullish reaction aligning perfectly with the marked demand zone. This week, I anticipate further upward movement towards my supply zone (A) near 1.2400. My reasoning is that price will likely seek to address the significant imbalance in that area before initiating a downward move.
Although not the closest point of interest, I also consider scenario (B), wherein price mitigates my 17-hour demand zone. This could trigger a temporary bullish reaction, potentially driving price to reach the marked supply level (A).
Confluences for GU Sells are as follows:
- Price has broken structure to the downside.
- Major imbalance left below the supply level which needs to be filled.
- Market trend is overall bearish on the higher time frame.
- Aligns with the dollar (DXY) as that's moving bullish currently.
- A clear 20-hour supply zone where I anticipate a Wyckoff distribution to take place.
- Lots of liquidity to the downside in the form of equal lows and Asia lows.
P.S. This idea is in line with the prevailing bearish trend, as price has broken structure to the downside, confirming its direction. Additionally, it aligns with the strengthening dollar (DXY), which I perceive to be on a bullish trajectory.
Have a great week ahead guys and happy trading!
Although not the closest point of interest, I also consider scenario (B), wherein price mitigates my 17-hour demand zone. This could trigger a temporary bullish reaction, potentially driving price to reach the marked supply level (A).
Confluences for GU Sells are as follows:
- Price has broken structure to the downside.
- Major imbalance left below the supply level which needs to be filled.
- Market trend is overall bearish on the higher time frame.
- Aligns with the dollar (DXY) as that's moving bullish currently.
- A clear 20-hour supply zone where I anticipate a Wyckoff distribution to take place.
- Lots of liquidity to the downside in the form of equal lows and Asia lows.
P.S. This idea is in line with the prevailing bearish trend, as price has broken structure to the downside, confirming its direction. Additionally, it aligns with the strengthening dollar (DXY), which I perceive to be on a bullish trajectory.
Have a great week ahead guys and happy trading!