GBPUSD - 28 February 2022
In terms of HTF, we are in strong bearish momentum, price is reacting off a 4H OB, we get a V-shape recovery, it's sign of demand kicking in. However, based on we are in strong bearish trend and now price has given a 15m bearish CHoCH and price is respecting supply after 15m CHoCH, I will be aware of getting involve.
There is a chance price could continue the bearish now with the newly formed supply chain. Now price has swept the 15m IRL, price is now in the pullback, but whether I want to look for Long depends on whether the low hold, if there is evidence showing the low is holding, I might get into a short-term Long. Else, I will still remain short bias, if 15m bearish CHoCH is presented, I will be favoring in short.
There is a chance price could continue the bearish now with the newly formed supply chain. Now price has swept the 15m IRL, price is now in the pullback, but whether I want to look for Long depends on whether the low hold, if there is evidence showing the low is holding, I might get into a short-term Long. Else, I will still remain short bias, if 15m bearish CHoCH is presented, I will be favoring in short.
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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.