GBPUSD
Watching some possible scenarios for GU wc 11th Dec.
Monitoring DXY price action which may drive GU higher/lower.
Looking at the current price action for GU, can see the market cycle:
Accumulate >> Reaccumulate > and now within a H1 range (neither high or low of this orderflow has been broken, with reference to the last two red dots)
Positioning myself with afew ideas in preparation for how the market responds.
Option 1: Reaccumulation- safer to wait for new highs to form, followed by and a pull back with a potential entry to continue playing order flow up.
Option 2: Testing previous reaccumulation as it didn't get fully tested and waiting for lower time frame bullish price action in the way of an accumulation.
Option 3: Seeing a UTAD type move to then short the market down targeting new lows on the higher time frame.
Just some personal ideas for how the market may move, ultimately will wait on price action, follow the Market structure and evidence of supply and demand
Monitoring DXY price action which may drive GU higher/lower.
Looking at the current price action for GU, can see the market cycle:
Accumulate >> Reaccumulate > and now within a H1 range (neither high or low of this orderflow has been broken, with reference to the last two red dots)
Positioning myself with afew ideas in preparation for how the market responds.
Option 1: Reaccumulation- safer to wait for new highs to form, followed by and a pull back with a potential entry to continue playing order flow up.
Option 2: Testing previous reaccumulation as it didn't get fully tested and waiting for lower time frame bullish price action in the way of an accumulation.
Option 3: Seeing a UTAD type move to then short the market down targeting new lows on the higher time frame.
Just some personal ideas for how the market may move, ultimately will wait on price action, follow the Market structure and evidence of supply and demand
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