British Pound / U.S. DollarUpdated GBPUSD - 7 January 2022
In 15mTF, price has now turned into bearish OF. Price is now in the pullback stage of the bearish leg, demand having the control atm, we could see price go up to the 15m D2S that sitting right above the LQ and continue bearish from here. Wait for confirmation to get into a short if we see SOW after price take out the LQ and mitigates the supply.
In terms of 4HTF, we are in 4H bullish OF and price is reacting off a 4H demand but price has given a 4H bearish CHoCH, and 15m is now in bearish OF, there is enough sign for bearish intention, but still countering 4H OF, therefore waiting for confirmation for getting in a short.
In terms of 4HTF, we are in 4H bullish OF and price is reacting off a 4H demand but price has given a 4H bearish CHoCH, and 15m is now in bearish OF, there is enough sign for bearish intention, but still countering 4H OF, therefore waiting for confirmation for getting in a short.
Note
Price didn't quite tap into my refined 15m D2S but the idea still play out, price take out the LQ from the top and mitigates the whole 15m B2S that cause the flip, from the reaction we can tell, this is the swept and the 15m low will probably get run.
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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.