- I see a down trend formation on the 1htf,
- I see price failing to break through my resistance zone there by accumulating lots of orders (liquidity) below my supply zone
- I will wait for those orders to be filed ( liquidity sweep) as soon as price taps into my suppy zone, i will start selling with a confirmation on the 10mtf
GBPCAD is on a downtrend on the 4hours time frame and now price has retraced to a supply zone. I think I will enter a sell position after confirming a CHoCH on the 15 minutes TF in alignment to the 4 hours TF.
Remember, " NO CONFIRMATION " , "NO ENTRY"
Price got to my 4hour OB on an up trend so I'm hoping to see a buy.
Meanwhile if my OB breaks, then I will start considering to look for sell opportunities.
