GBP / USD Short.
After a period of Distri / ReDistri in Feb. 21 and May. 21 - Jun. 21 the price traded back to a daily OB and is now offering a nice bounce out the OB Zone.
- 1D bearish OB identified From 1.39240 to 1.40015. the market should come back to this OB.
- 1D Fib. anchored on the high of the swing 1.40015 down to the lowest low of the swing 1.37316, the range calculated from this two price points provide us with the three levels where the price could be reversing.
1.38989 = 62 % retracement of the range.
1.39219 = 70.5 % retracement of the range.
1.39448 = 79 % retracement of the range.
- The 1.39500 and 1.39200 Big Fig. are both strong levels where institutions could build positions at.
The confluence of theses 3 parameters could build a strong confidence that the market could go and trade lower once it reaches theses levels.
This Levels are taken from a Daily TF but I use a 15MN TF to place my orders
- 1D bearish OB identified From 1.39240 to 1.40015. the market should come back to this OB.
- 1D Fib. anchored on the high of the swing 1.40015 down to the lowest low of the swing 1.37316, the range calculated from this two price points provide us with the three levels where the price could be reversing.
1.38989 = 62 % retracement of the range.
1.39219 = 70.5 % retracement of the range.
1.39448 = 79 % retracement of the range.
- The 1.39500 and 1.39200 Big Fig. are both strong levels where institutions could build positions at.
The confluence of theses 3 parameters could build a strong confidence that the market could go and trade lower once it reaches theses levels.
This Levels are taken from a Daily TF but I use a 15MN TF to place my orders
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