GJ Bearish!
Updated
Traders,
GJ weekly institutional order flow is still bullish; however if you noticed price is showing some consolidation and is showing selling opportunities for the moment (a retracement to continue the bullish trend). The target is 160/159 area. Two things to look for: 1) We have sellside liquidity resting below 160, which is a nice target! 2) The premium/discount array is at 159.700 from the monthly chart. For those that don't understand what P/D array is, I highly suggest to watch and learn ICT methods from his YouTube channel. Once price trades through 159.700, which will be at discounted prices, I will then start looking for buying opportunities.
Sell limit: 163.000
SL: 163.450
TP: 159.700
GJ weekly institutional order flow is still bullish; however if you noticed price is showing some consolidation and is showing selling opportunities for the moment (a retracement to continue the bullish trend). The target is 160/159 area. Two things to look for: 1) We have sellside liquidity resting below 160, which is a nice target! 2) The premium/discount array is at 159.700 from the monthly chart. For those that don't understand what P/D array is, I highly suggest to watch and learn ICT methods from his YouTube channel. Once price trades through 159.700, which will be at discounted prices, I will then start looking for buying opportunities.
Sell limit: 163.000
SL: 163.450
TP: 159.700
Trade active
NOTE: With the way price has been moving with GJ, please consider 160.400 as the next logical target to be reach this coming week. We have (5) high impact news on GBP, on Thurs. (4Aug) at 1500hrs. What that means to us is that price may experience consolidation in the first few days of the week before volatility hit the market on Thurs. We wait and see...Note
Traders,Something to consider for this upcoming week against GJ, price may want to draw to 164.200 (1hr bearish order block) before the drop, while taken out buyside liquidity. Please review the 1hr chart. Also, if you review the daily chart, you will see the FVG(1hr order block is inside of the daily FVG). This could potentially be a sell limit to go short. This will be my secondary option, just in case my initial entry of 163.000 doesn't get respected.
Trade closed: target reached
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.