GBPJPY has tapped into Daily bearish IMB area. Looking for Liquidity sweep and short confirmation on lower timeframe before I go short.
This #EURUSD trade follows a classic ICT bearish setup where price swept liquidity (LIQ) before tapping into and forming a H4 Fair Value Gap (FVG), confirming bearish order flow. A Break of Structure (BOS) to the downside signaled continuation. I will be looking for price to be retraced into a lower timeframe imbalance for entry.
If the price crosses my invalidation level at 1.03732, my bias will turn bearish. Let’s see how this trade plays out!
The market is moving within a bearish structure, with a clear break of structure (BOS) and a fair value gap (FVG) forming as price retraces. My focus is on the reaction area (swing low) around 1.21596. If the price breaks lower, I anticipate a continuation to the downside, targeting levels near 1.20984 and beyond. Patience is key as I wait for confirmation in this setup!
The price is currently hovering around a daily imbalance level near 1.025, which could lead to two potential scenarios. If the market respects this imbalance, I’ll be looking for long opportunities, anticipating a bullish move toward the 1.03542 (high of the CPI manipulation). On the other hand, if the market invalidates the imbalance, I’ll shift my focus to short...
Market Structure and Key Zones 1. Liquidity Zone (LIQ): - Highlighted at the top where stop-loss orders are potentially clustered. This area serves as a liquidity pool for smart money to target before reversing the price. 2. Change of Character (CH): - Identified in multiple zones, indicating a shift from bullish to bearish momentum. The initial CH is key to...