I'm going to be quick with this because it is mid-session, and I want to stay in a trading flow.
GBP has tentative budget release today, stay mindful. Probably gonna come in around 5:30am (EST)
Watching: 1.2090-1.2100 for a short. Looking for banks to protect their UK open liquidity spike.
Reasoning:
If price hits the zone I'm watching, structure will play an important role in my decision to enter or not. I'm bullish long term so I rather be safe than stupid.
It may sound like I'm talking about GBPUSD cause I'm referring to London so much...GBP impacts EUR, London makes up about 35% of all FX transactions.
Currently monitoring.
GBP has tentative budget release today, stay mindful. Probably gonna come in around 5:30am (EST)
Watching: 1.2090-1.2100 for a short. Looking for banks to protect their UK open liquidity spike.
Reasoning:
- We triggered two daily highs on the London open
Tapped a supply zone
Price confirmed some shorts were there
If price hits the zone I'm watching, structure will play an important role in my decision to enter or not. I'm bullish long term so I rather be safe than stupid.
It may sound like I'm talking about GBPUSD cause I'm referring to London so much...GBP impacts EUR, London makes up about 35% of all FX transactions.
Currently monitoring.
Note
I'm looking for something like this on the 1 or 5minNote
just gonna observe, price looks inconsistent, could rise, could fall
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.