would GBPUSD bearish this week?
מעודכן
on the 12M TF, price is trading back up after forming a relatively equal low. A FVG can be seen and I think that the price is trading to fill that up.
On the 6M and 3M TF, respectively, Price can be seen trading up to fill the Gap and if given the opportunity, I think it'll want to take out the buy side liquidity on the HH 1,42917. But after a close examination, it can noticed that the price is reacting on the bearish OB on the 3M, therefore, displacing any chance of going further for a while. Does this mean that the price would retrace and continue it's move lower? Or would price disregard the -OB and continue it's higher move?
On the Monthly TF, we can see that the price is consolidating below the OB after trading off it. If I'm to expect any bullish move, then it'll be after price had taken out the short term highs it has created, to fill the FVG on the buy side.
On the weekly and Daily TF, we've been bullish for several weeks now, until we got to the OB. Personally, I would want to see a retracement in price to 1.27034 level for reprising.
On the 4hr, 2hr, and 1hr, we can see price consolidating and it is clear that the OB might be a relevant one. I would want to see price sell and fill up the FVG on the H4 before continuing its bull run.
Therefore, On a short term basis, I'll be bearish on GBPUSD, but that does not negate our long-term Bullish Bias.
On the 6M and 3M TF, respectively, Price can be seen trading up to fill the Gap and if given the opportunity, I think it'll want to take out the buy side liquidity on the HH 1,42917. But after a close examination, it can noticed that the price is reacting on the bearish OB on the 3M, therefore, displacing any chance of going further for a while. Does this mean that the price would retrace and continue it's move lower? Or would price disregard the -OB and continue it's higher move?
On the Monthly TF, we can see that the price is consolidating below the OB after trading off it. If I'm to expect any bullish move, then it'll be after price had taken out the short term highs it has created, to fill the FVG on the buy side.
On the weekly and Daily TF, we've been bullish for several weeks now, until we got to the OB. Personally, I would want to see a retracement in price to 1.27034 level for reprising.
On the 4hr, 2hr, and 1hr, we can see price consolidating and it is clear that the OB might be a relevant one. I would want to see price sell and fill up the FVG on the H4 before continuing its bull run.
Therefore, On a short term basis, I'll be bearish on GBPUSD, but that does not negate our long-term Bullish Bias.
הערה
As seen on the charts, Price filled the FVG and respected the OB that I stated. Now, i get to wait for my setup to form before going into the market. DYOR.
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