GBPUSD Waiting For Short Opportunity
Updated
1) D1 previously shows strong uptrend and price bounce in the channel until it broke out creating a new downtrend channel.
2) In H4, price is making a downtrend channel and currently bouncing at H4 Demand Zone as drawn.
3) We should wait for the price to go up and enter the H4 Supply Zone as drawn and should be good to Short.
4) If the price breaks the H4 Demand Zone, this indicates that the price will move to next Demand Zone.
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This is just my idea, we can't control the market. Good luck! :D
2) In H4, price is making a downtrend channel and currently bouncing at H4 Demand Zone as drawn.
3) We should wait for the price to go up and enter the H4 Supply Zone as drawn and should be good to Short.
4) If the price breaks the H4 Demand Zone, this indicates that the price will move to next Demand Zone.
.
.
.
This is just my idea, we can't control the market. Good luck! :D
Note
the H4 Supply Zone is now invalid because H1 candle close above the supply zone. Let's see how price will react to the Resistance(upper trendline) for now.Note
If H1 closes Red candle, that will create a "Rally Base Drop" Supply Zone. We can trade in that zone. Good luck!
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