My interpretation of price is that GBPUSD can trade to March lows for sell-side liquidity after a run above the March highs for buy-side liquidity and aggressivley trading lower, leaving the buyers trapped
For context: When I say 'buy-side' liquidity, I am reffering to:
1. Market orders of breakout traders who look to buy above highs using a buy-stop
2. Market orders of traders who were shorting the market with a protective stop loss above the highs (once again, a buy-stop)
The same is true for 'sell-side' liquidity, just in reverse.
I look to short if the price returns to the new week opening gap.
Just my thoughts, good luck and good trading to all.
For context: When I say 'buy-side' liquidity, I am reffering to:
1. Market orders of breakout traders who look to buy above highs using a buy-stop
2. Market orders of traders who were shorting the market with a protective stop loss above the highs (once again, a buy-stop)
The same is true for 'sell-side' liquidity, just in reverse.
I look to short if the price returns to the new week opening gap.
Just my thoughts, good luck and good trading to all.
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.
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.