Good morning Alkalites! Hopefully, you all had a great Christmas with your families, it is now time to get back to work!
I have put together some analysis for GBPUSD today, although the banks remain closed in the United Kingdom, this setup is ideal.
Equal lows have been created at the Asian low just above the demand, leaving a liquidity gap open for purging.
The major 15m imbalance has been tackled already so I wouldn't expect the price to push past the demand box marked.
We have sellers who remain trapped in the bearish candle marked, which usually means the price will be pushed back to the zone so losers can get out of their negative positions.
We also have some bullish imbalance from the explosive move on the footprint, these levels are marked as 21x0 and 25x0.
I have illustrated what I would like to see today, volume is extremely light but fingers crossed we can make something work.
Good luck trading! Are we all ready for the new year?
I have put together some analysis for GBPUSD today, although the banks remain closed in the United Kingdom, this setup is ideal.
Equal lows have been created at the Asian low just above the demand, leaving a liquidity gap open for purging.
The major 15m imbalance has been tackled already so I wouldn't expect the price to push past the demand box marked.
We have sellers who remain trapped in the bearish candle marked, which usually means the price will be pushed back to the zone so losers can get out of their negative positions.
We also have some bullish imbalance from the explosive move on the footprint, these levels are marked as 21x0 and 25x0.
I have illustrated what I would like to see today, volume is extremely light but fingers crossed we can make something work.
Good luck trading! Are we all ready for the new year?
