GBPCHF - Retracement then Long
Updated
We are currently inside a Discount Area, above a weekly bullish Orderblock and a daily Mitigation Block. A retracement should happen and it should test the mitigation block or Deeper into the Weekly bullish Orderblock. Targeting the Bearish Breaker (Our first PD Array), or the Weekly Orderblock area into Equilibrium. We also have a Liquidity Void (imbalance) to be targeted as extra confirmation.
This is just my perspective on the pair. Do your own research and good luck!
This is just my perspective on the pair. Do your own research and good luck!
Note
high impact news striked through our area of interest, however this was a very valid setup that usually works out for me. The Summer Doldrum shitty August markets are really acting up. Well, we'll come back stronger regardless. Currently waiting on a new setup on the pair, as of today 17.08.21 price still looks willing to go up if we break the 1.27 level. But we need a clear break before looking for new Longs, because now we have a bearish impulse where we still expect a tiny retracement back up before potentially moving back down. Very upset that this setup didn't work out, it had so many confirmations from an orderflow and structural perspective.Note
It all was just a manipulation move t take out the lows, seeing higher prices from here
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.