Short

Updated

GBPUSD Sell Setup

Very nice, Price gave a different form of bearish pattern.
At this point, everyone can clearly see this is a reversal pattern: Head and shoulder. Price will make a pullback to go lower, so no, we haven't missed the sell opportunity for the end of the week. The 2 scenarios are possible, but with H&S pattern, it is more likely for price to retest the neckline and then give a 350pip drop. 5mins to 15mins CHoCH is the key for a good entry to sell after the retest. I would also be watching for an opportunity to buy to the sell zone.
**As always, Trade cautiously.

Order cancelled

Price did not meet my expectations with a pull back. We are still on a bearish momentum, please trade cautiously.

Note

Seeing the way the week ended, I had to revise the setup to anticipate Price action. We know we are selling, multiple breaks in structure, trend and trendline (dynamic support). Currently I am not anticipate a break of the lower high, that would be reversing the bearish momentum from last week and would send price bullish. So for now, I watching for price to retrace into the FVG and continue the drop from last week.

However, we must not be rigid and lose the potential for profit.Price has made consecutive break of structure on the 15mins after a strong bearish momentum. If price would reverse and break the high for liquidity before the next drop, I would be watching for the 3-drive reversal structure.

**As always, trade cautiously.

Note

There is already a trend in play though. I think we might break target 2 before a pull back. I am interested in seeing how price reacts here.

Trade active

I am selling at the moment. SL would be carefully watched.

Trade active

one last set of trades today: If we break above, I might be interested in buying.

Trade active

If price breaks above, I would reduce my positions and add more after a retest. Else if price makes another pull back before BOS, I would add more to TP.

Trade active

i have taken partial profits...Anticipating a retest.

Trade active

Still waiting GBPUSD.

Trade active

😁 Sorry I am flooding everyone's chat lol. This is how I can help others. Having said that, I adjusted my TP to account for the 15mins BOS.

Trade active

With the timing of the session, I wasn't sure price would hit my entry. This is nice.

Trade active

GBPUSD. That's the zone to watch. see you guys at TP.

Trade active

Note

I closed all my trades. Need to sleep. We potentially looking at a 15mins bullish structure with the multiple ChoCh. We might be buying in LDN session later today.

Note

Good morning

Note

I would also watch for price taking out liquidity to tap the higher supply zone.

Note

Suspend the sell setup for now. This is looking more like a reversal structure.

Note

I would be expecting a pullback and then sell to dynamic support. If we start having distribution at the 50% I would consider a deeper sell target.

Note

Trade active

Trade closed: stop reached

SL hit

Note

I held to the trades of yesterday and missed something important. Well, based on Price action, I would like to see a pullback before I consider selling or buying.

Note

GBPUSD patience has yielded focus. We've got a direction now.

Note

Current Plan.

Note

following price action, I can see price would take out liquidity first before any selling action.

Trade active

Note

Cancel the buy. SL hit my BE. Price is breaking lows, and setting up for a sell.

Note

Trade active

Note

I have 2 scenarios for Price action today, 10th Friday:
Scenario 1: Price has been creating HHs and looks like a trend. If Price does not break the recent low, the final phase of the trend should expand into the FVG just above the recent high.

Scenario 2: Price is trying to complete the sell setup and would take out liquidity. In this scenario, I would expect price to break the recent low, pull back into discount before selling heavily in LDN session for almost 100pips. After this sell, I expect a very strong buy to 1.235.

Note

Price met scenario 2 requirements. I am looking to sell at the discount and buy afterwards.

Trade active

Target almost reached. Then I am buying

Trade closed: target reached

Took a buy immediately.

Trade closed manually

There was no immediate reaction to that level. I have closed my trades. Would continue on Monday.

Note

I cancelled the last setup. Price did not immediately reject that zone.
My analysis for the week shows we still have some bearish momentum in play. I would be expecting a pullback before the last drop. It is important price action doesnt break the HL. If it does, every buy scenario would become a pullback for the sell momentum.

Note

Good morning...

Note

if price breaks the high without retesting the demand zone, my bias would change to sell.

Note

That should be my entry.

Trade active

Nice!

Note

Price broke through my invalidation and gave no setup. I would be selling one last time, before looking for a buy setup.

Note

GBPUSD. The pattern just printed is a bearish continuation...looks like the low would be broken.

Trade active

Trade is live.

Trade closed: target reached

SwingingPrime

Also on:

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.

SwingingPrime

Also on: