Price moved as expected from my previous post for Cable from Sunday. The daily break of structure created a lower low and subsequent correction to 1.2700.
Now, the 4h structure agrees with the daily, and a 4h break of structure to create a lower low gives significant evidence towards our short bias.
Once price has created a new 4h lower high which should be evident through price action and swing wicks, I'll look to the lower timeframes for an impulse, correction and momentum shift. This would then meet all of my conditions for entry.
What is your plan for GBPUSD?
Now, the 4h structure agrees with the daily, and a 4h break of structure to create a lower low gives significant evidence towards our short bias.
Once price has created a new 4h lower high which should be evident through price action and swing wicks, I'll look to the lower timeframes for an impulse, correction and momentum shift. This would then meet all of my conditions for entry.
What is your plan for GBPUSD?