GBP/USD Week Analysis 4/20
Macro -
Weekly: Structure is bullish, flow looks bullish aswell, currently pushing highs of the previous 2 months. Looks like we are leaving a retracement in our current weekly pattern. Will want to look into intra-week&day TF to validate this (want to see daily transition into a bullish orderflow, with a valid confirmation. (make HL & then create a new HH, maybe even with for new structure to also create a HL depending if momentum dies down.)
Intraweek-
Daily: Structure is technically bearish, but we have broken our Daily LH. flow is Bullish - Price "cracked" the daily LL, making a new low, and then pivoted to significant highs, and breaking past many highs that had alot of liquidity, will want to see price create a HL to confirm transition. Price is currently playing within the weekly range, so we want to be careful with how we plan our play. possible continuation of bullish momentum, if we break completely from Daily Range.
Intraday-
H4: Structure is Bullish, flow is also bullish, breaking past significant structure on Daily. If we decide to make a intraday trade, we can take a long with a CONFIRMED entry & a confirmation of the bullish continuation, within our AOI & daily zone. Want to watch price on LTF to confirm movement. BUT price seems to be very overextended, so depending on how price ends up playing out, we could even see a deep retrace, possibly even a continuation HTF bearish flow, so we want to be aware of any strong signs of bearish orderflow.
Weekly: Structure is bullish, flow looks bullish aswell, currently pushing highs of the previous 2 months. Looks like we are leaving a retracement in our current weekly pattern. Will want to look into intra-week&day TF to validate this (want to see daily transition into a bullish orderflow, with a valid confirmation. (make HL & then create a new HH, maybe even with for new structure to also create a HL depending if momentum dies down.)
Intraweek-
Daily: Structure is technically bearish, but we have broken our Daily LH. flow is Bullish - Price "cracked" the daily LL, making a new low, and then pivoted to significant highs, and breaking past many highs that had alot of liquidity, will want to see price create a HL to confirm transition. Price is currently playing within the weekly range, so we want to be careful with how we plan our play. possible continuation of bullish momentum, if we break completely from Daily Range.
Intraday-
H4: Structure is Bullish, flow is also bullish, breaking past significant structure on Daily. If we decide to make a intraday trade, we can take a long with a CONFIRMED entry & a confirmation of the bullish continuation, within our AOI & daily zone. Want to watch price on LTF to confirm movement. BUT price seems to be very overextended, so depending on how price ends up playing out, we could even see a deep retrace, possibly even a continuation HTF bearish flow, so we want to be aware of any strong signs of bearish orderflow.
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