Took a short position after a clear rejection from a key supply zone right at the New York Open, following a strong bullish push during London.
🧠 Trade Idea & Confluences:
• Supply Zone: Price tapped into a 15M supply area, showing multiple rejections with wicks and bearish momentum.
• Structure Shift: Break of minor bullish structure – signaling a possible reversal.
• NY Open Volatility: Leveraging high volume for a strong move away from supply.
• EMA Confluence: Price losing the 20 EMA, now acting as dynamic resistance.
• Risk-to-Reward: Solid R:R (~3R), targeting an untapped demand zone and imbalance fill below.
🎯 Trade Setup:
• Entry: After bearish engulfing on rejection from supply
• Stop Loss: Above the recent high
• Take Profit: Into 15M demand zone, near previous Asian session highs
⸻
If you want, I can also add a few hashtags for better visibility:
#GBPUSD #SmartMoney #SupplyDemand #DayTrading #ForexStrategy #NYSession #PriceAction #15MChart #TradeSetup
🧠 Trade Idea & Confluences:
• Supply Zone: Price tapped into a 15M supply area, showing multiple rejections with wicks and bearish momentum.
• Structure Shift: Break of minor bullish structure – signaling a possible reversal.
• NY Open Volatility: Leveraging high volume for a strong move away from supply.
• EMA Confluence: Price losing the 20 EMA, now acting as dynamic resistance.
• Risk-to-Reward: Solid R:R (~3R), targeting an untapped demand zone and imbalance fill below.
🎯 Trade Setup:
• Entry: After bearish engulfing on rejection from supply
• Stop Loss: Above the recent high
• Take Profit: Into 15M demand zone, near previous Asian session highs
⸻
If you want, I can also add a few hashtags for better visibility:
#GBPUSD #SmartMoney #SupplyDemand #DayTrading #ForexStrategy #NYSession #PriceAction #15MChart #TradeSetup
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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.