GBPUSD Hourly Trading Journal
GBPUSD Hourly Trading Journal
Price started the week seeking lower prices in a distribution cycle on Tuesday, and delivered to a accumulation cycle by the end of the week.
Price had resistance to go below old lows since Dec 13 rally and price has had resistance getting above the highs created dec 28. I note this because the old lows seemed to be defended and last week price did not create a new high or a new low. Price seems to be in a larger consolidation cycle.
We ended the at the equilibrium range on the hourly. There are RED FOLDER NEWS for GBP on Wed Friday and USD on Thursday. So I anticipate high chances of market volatility.
I suspect that if it seeks higher prices it will pierce that defended buy stops and come into the HOURLY FVG at the range of 1.27729 to 1.27873.
Should price seek lower which I think it might come swipe the sell stops at range of 1.26116.
I would like to see price decline to the sell side Monday swipe the old lows before expanding to the buy side. I am prepared for a bull rally or a bear rally.
Price started the week seeking lower prices in a distribution cycle on Tuesday, and delivered to a accumulation cycle by the end of the week.
Price had resistance to go below old lows since Dec 13 rally and price has had resistance getting above the highs created dec 28. I note this because the old lows seemed to be defended and last week price did not create a new high or a new low. Price seems to be in a larger consolidation cycle.
We ended the at the equilibrium range on the hourly. There are RED FOLDER NEWS for GBP on Wed Friday and USD on Thursday. So I anticipate high chances of market volatility.
I suspect that if it seeks higher prices it will pierce that defended buy stops and come into the HOURLY FVG at the range of 1.27729 to 1.27873.
Should price seek lower which I think it might come swipe the sell stops at range of 1.26116.
I would like to see price decline to the sell side Monday swipe the old lows before expanding to the buy side. I am prepared for a bull rally or a bear rally.
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