GBPUSD
May 11
Week in review
Weekly Price is in a premium and for the last 3 weeks in a consolidation cycle.
Note how both EUR and GBP haven't broke market structure on HTF like DXY has.
*Monday price seeks the equal highs from Friday breaks down to create equal lows
*Tuesday expands price from a discount to rally to buy side and breaks down to go into a small consolidation cycle
*Wednesday in a small consolidation and in NY macro price takes minor buy side and breaks down to create equal lows in a consolidation
reversing to take Wednesday’s delivery to the buy side
*Thursday price opens in Asia to take buy side and breaks down the equal lows target
*Friday reversal of Thursdays delivery to close in consolidation
Very clean price to read hence why I am monitoring more and took a trade on Friday.
Note price started the week in a discount by Tuesday was in a premium to then break down to a discount by Friday to close at the range 50 level.
Fridays Delivery
Price was in a discount with FVG to rebalance from Thursdays delivery and my trades target the previous sessions range 50 level. Very happy with delivery.
No news Monday and Wednesday-have to watch with the huge range delivered on Friday to not impress my will on my set up formed and wait for Sundays delivery.
Lead with logic, use your checklist and only trade your model.
May 11
Week in review
Weekly Price is in a premium and for the last 3 weeks in a consolidation cycle.
Note how both EUR and GBP haven't broke market structure on HTF like DXY has.
*Monday price seeks the equal highs from Friday breaks down to create equal lows
*Tuesday expands price from a discount to rally to buy side and breaks down to go into a small consolidation cycle
*Wednesday in a small consolidation and in NY macro price takes minor buy side and breaks down to create equal lows in a consolidation
reversing to take Wednesday’s delivery to the buy side
*Thursday price opens in Asia to take buy side and breaks down the equal lows target
*Friday reversal of Thursdays delivery to close in consolidation
Very clean price to read hence why I am monitoring more and took a trade on Friday.
Note price started the week in a discount by Tuesday was in a premium to then break down to a discount by Friday to close at the range 50 level.
Fridays Delivery
Price was in a discount with FVG to rebalance from Thursdays delivery and my trades target the previous sessions range 50 level. Very happy with delivery.
No news Monday and Wednesday-have to watch with the huge range delivered on Friday to not impress my will on my set up formed and wait for Sundays delivery.
Lead with logic, use your checklist and only trade your model.
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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.
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.