GBPUSD NY SESSION PLANS (NEUTRAL)
Neutral? Yes neutral, and the reason why is quite simple. Follow me:
So as we can see, price has tried (and succeeded) in breaking below the support we are currently faced with, however, buyers were strong enough to push price back up above the said level.
Now what im waiting on is for price action to give me more clues about the pair's next move. Id be more in favor of a short simply because of the fact that the commanding trend as of now is downwards. If we were to see a long forming, i want to see some liquidity being built up so the pair has enough power to push up, following roughly the path i have traced out.
However, if we were to see a short on this, we would need to see a break-out candle or something of the sort, its going to make itself apparent first, stop out all the buyers and take stops before it gets to push all the way down to that lower wick created by the hourly candle where my red path is marked
Either way, we must be patient and allow the market to enter our crosshairs, then we can execute trades like snipers. Happy trading guys, and dont forget to follow me for more gbp usd ideas. I post maybe 2-3 times a day since im an intraday trader.
Love you guys :P
So as we can see, price has tried (and succeeded) in breaking below the support we are currently faced with, however, buyers were strong enough to push price back up above the said level.
Now what im waiting on is for price action to give me more clues about the pair's next move. Id be more in favor of a short simply because of the fact that the commanding trend as of now is downwards. If we were to see a long forming, i want to see some liquidity being built up so the pair has enough power to push up, following roughly the path i have traced out.
However, if we were to see a short on this, we would need to see a break-out candle or something of the sort, its going to make itself apparent first, stop out all the buyers and take stops before it gets to push all the way down to that lower wick created by the hourly candle where my red path is marked
Either way, we must be patient and allow the market to enter our crosshairs, then we can execute trades like snipers. Happy trading guys, and dont forget to follow me for more gbp usd ideas. I post maybe 2-3 times a day since im an intraday trader.
Love you guys :P
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