GBP/USD 1H - You can see from the screenshot that I am looking at trading this market lower, based on the 1D timeframe I have seen that price before the close traded into an area of Supply.
I am now wanting to see price breakdown from here as I want to see enough Supply being introduced to give us a full S&D flip. As we know this market has been trading us lower on the higher timeframes for sometime.
Yes price is currently trading us in a bullish way but this is just part of the higher timeframe correction and as a result I am expecting price to run out of demand and trade us lower.
I have set my SL above the Supply Zone price traded into originally, I have also placed it a little above the last area of Supply that seems to be unmitigated, my TP however is set just above the higher timeframe swing low. Giving us a great RR ratio on this setup.
I am now wanting to see price breakdown from here as I want to see enough Supply being introduced to give us a full S&D flip. As we know this market has been trading us lower on the higher timeframes for sometime.
Yes price is currently trading us in a bullish way but this is just part of the higher timeframe correction and as a result I am expecting price to run out of demand and trade us lower.
I have set my SL above the Supply Zone price traded into originally, I have also placed it a little above the last area of Supply that seems to be unmitigated, my TP however is set just above the higher timeframe swing low. Giving us a great RR ratio on this setup.
