GBPUSD: Sell To Buy Set UPWeekly Timeframe:
We were able to liquidate the previous most recent swing highs.
Price in turn hit the supply range (mitigation Block) and quickly reversed.
Going into next week;
- we expect the market to pullback at least to the mean threshold of previous week.
- It's important to note where price is at.
At the moment, we are mitigating the bullish internal weekly demand range.
- We expect the orderflow to hold, which means, we can begin looking for buy opportunities from this orderblock.
NOTE:
It's highly likely that this demand range might fail.
Here are my reasons:
=> 1. We pushed to the upside with alot of momentum. We Never created a leg inducement.
=> 2. We moved back to the demand range with a high momentum. Again we never created Pullback inducement.
=> 3. This means the current liquidity pool is below the swing low. Price will always gravitate towards that.
It's also important to note that price has created an inverted FVG. We can frame an idea with that.
It's also important to note that if we break and close below the swing low, that signals the start of the weekly sing pullback.
Going into next week, I am expecting to see a pullback to the inverted FVG which creates a PBID.
If we create PBID, this gives me confidence to take buy opportunities from the current internal demand range.
If we dont create PBID, then its highly likely price will run the lows
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Daily Swing structure = Bullish
Daily Internal Structure = Bullish
Daily Fractal Structure = Bearish
We follow the immediate structure. The immediate structure is swing Structure because internal structure = swing structure.
We understand that price moves in phases:
1. Phase 1 = Break of structure.
2. Phase 2 = Restest of the previous structure.
3. Phase 3 = Continuation of the dominant trend.
Price is in phase 2 where we are looking to put in a lower High.
If the dominant trend is to hold, we expect the demand range to also hold. This means, the demand OB should hold.
What we know about price:
1. We are bullish. the main structures are aligned.
2. We are retesting the previous swing/internal range.
3. We should be expecting phase 3 to start.
Where is price at?
=> price is currently at a daily demand orderblock.
Our expectation is for the price to initiate phase 3 in order for us to catch the dominant trend.
However, there is a possibility the demand range get's invalidated. For that to happen, we need to see a break and close below the daily swing protected low.
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4hrs Swing structure = Bullish
4hrs Internal Structure = Bearish
4hrs Fractal Structure = Bearish
We follow the immediate structure.
Internal structure is the immediate structure.
This means we should be looking for some selling opportunities.
What phase of the market is price in?
=> Price is in phase 2, where we are mitigating the previous internal supply range.
Where is price?
=> Price is in a supply orderblock. If the orderflow is to be maintained, this orderblock/supply range must hold.
Where is price coming from?
=> We have tapped into a daily demand range which obviously holds more power and therefore, we may see the current supply range getting invalidated.
NOTE:
Price pushed aggressively to the downside, tapping into our demand range.
=> Even though we had a liquidation, The current leg has no iducement levels which means the swing high is the inducement. this mean further means that we may see price sweep the high before selling to our 4H demand orderblock.
=> Alternatively, we need to see price creating inducement before tapping 15Mins supply OB.
If price breaks and closes above the internal Protected High, then it means the swing pullback is over and we can start looking for set-up 1 ideas.
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15 Mins Swing structure = Bearish
15 Mins Internal Structure = Bearish
15 Mins Fractal Structure = Bearish
We follow the immediate structure= internal structure.
Price is in phase 2 where we are coming to retest the previous internal supply range.
Because we moved aggressively to the downside, i want to see a slow move to the OB, creating liquidity before tapping the zone.
Its important to pay attention to the breaker.
