PREPARING FOR SHORTS ON GBP/USD
GBP/USD 4H - This is another market I feel will give us a good amount of bearishness over the course of the next week or so. I am wanting to see price trade us up and into the Supply Zone above, introducing enough Supply to flip the S&D balance.
As you can see this market has been very much bearish for some time now and has given us clear bearish structure creating lower highs and lower lows. I feel price is coming back up and will trade us into this zone to set a new lower high.
Once we have the penetration it will then be about waiting for price to distribute giving us a break of structure fractally to the downside, this tells us that enough Supply has been introduced to flip the current bull run.
This putting an end to the corrective wave and it being the start of the next impulsive wave trading us lower in the market. It is important we wait for confirmation parameters before we look to take part in this market.
As you can see this market has been very much bearish for some time now and has given us clear bearish structure creating lower highs and lower lows. I feel price is coming back up and will trade us into this zone to set a new lower high.
Once we have the penetration it will then be about waiting for price to distribute giving us a break of structure fractally to the downside, this tells us that enough Supply has been introduced to flip the current bull run.
This putting an end to the corrective wave and it being the start of the next impulsive wave trading us lower in the market. It is important we wait for confirmation parameters before we look to take part in this market.