GF Short Sell to Buy

15 jul 2023

Higher high created on the weekly that price is currently retracing. I have labeled 50% of the weekly buy and the 78% OTE level. The weekly 50% level is like a magnet so I’m expecting price to buy up to the weekly 50% and then continue selling to complete the weekly retracement for buys at or around the 78% level. The weekly 50% is also at the exact level that caused the daily structure break. 4hr shows another BOS for the buy but I don’t expect price to go higher than the weekly 50% just yet. My buy entry is 50% of the daily FVG and stop loss is just below the 4h FVG, 30 pips. RR = 1:7, TP 1.1436 as a safe exit as I do believe that price can trade higher. Good luck!