This is what I’m looking at for a Monday, the initial push up had retraced to below the 50% then made a push up and at the moment has not made a lower low or broke the high.
I have my two structure lines and it’s when those areas have a good 1hr Candle closure that i’ll start looking at this a bit deeper
Yesterday was a good result, waited for price to do it’s thing and created the areas to take short term trades.
This was the trade I took all based off everything I analyse - it’s not easy but it’s worth it for the rewards
Areas I’m looking at for 28th September - Price is still in the range of initial push from Daily Demand and retrace below the 50% of that push.
For me the area its in now is showing a lot of selling - I’d like to see the supply areas taken out with candle body closure but ultimately it’s the high of initial push that will need to be taken out.
But doesn’t mean there wont be opportunities to buy or sell why while this works itself out.
With that huge drop yesterday we should expect a correction but when? Its clear to see all the imbalance on that drop.
I’ve explained the process for my trades and what I look at - these are always areas I monitor and don’t trade from them blindly.
Although I hit my target yesterday holding on to the trade would have returned great profit - something I need to get better at.
So for today I have these areas as high and lows, will be watching closely to see what the 1hr chart creates then trade from what I see.
The trades from yesterday only took the first one but in total I was given three entries to short (3rd one further down)
Continuation south for GBPUSD at the moment, no doubt many are already longing this pair trying to catch a reversal but trade what you see not what you think.
I had a clear sell sign from my analysis yesterday and took a sell but only to the low which was still a decent 3.5R.
I have a Daily Demand zone marked out in which it’s currently sitting.
Today I have my areas marked out and will trade exactly the same way as I have on my plan.
This is the breakdown of the trade
Yesterday was frustrating, didn’t profit but more importantly wasn’t at a loss but had my entry missed by a few pips.
1hr Chart
