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Mitigation

GBP/USD - Potential SellPrice is currently in a downtrend on multiple timeframes and has started retracing from the last low it made. It has left a big imbalance in price and this could be a decent area to look for an entry. Ideally an entry slightly above the imbalance from the 4h OB. The entry area also aligns almost perfectly with the 0.88 fib level, which is an additional confluence. Will be looking for price to drop to the area of liquidity below and potentially to the -61.8 level of the fib as a take profit. There is a new release happen on the following day of this trade idea about 'Job openings' which could potentially impact the USD heavily. If the news release is a positive one, we can hopefully expect the Dollar to go up in value, causing GBP/USD to make its way down and create a new LL.
Short
by manudimamdo
3
XAU/USD - Manipulation candlesWe recently had a break of structure on gold, creating a pool of liquidity on the downside. Gold recently tested off an order block and started moving to the downside on the 1h time frame. But on the smaller timeframes just above that previously, evidence that manipulation candles have come into play can be seen much clearer. The candle that look out liquidity on the smaller times may get mitigated before price starts to move lower. There are two potential entry points I've marked out, an IC on the 15 min timeframe, and an IC on the 5 min. The first take profit target is a 1:12 risk to reward which is more likely to play out, even if it's a temporary move. The other two are a bit more ambitious, but if this is truly a break of structure then hopefully we can see price make it's way the eventually. Also looking at both sides of the coin, there is still a lot of imbalance in price above the entry area, and on the daily timeframe price looks very bullish. So there is also potential that price could go past entry and stop loss area to rebalance price first before making its way down eventually, hence the low risk, high reward setup.
FX:XAUUSDShort
by manudimamdo
1