Price has retest at a resistance which is turned from previous support in 4H time frame.
From COT perspectives (Order Flow Perspectives), the net position of GBP is decreasing and hedge fund has been closing a lot of long positions and short position. Closing short position is because hedge fund has an intention to keep pushing the price into a higher price to create a retracement in order to sell at a high price. In the latest data, both closing short and long position is in a very less amount compare to precious data, this can be explained as hedge fund would be started to increase the short position in future.
However, move to MA indicators and Fib retracement, both of the tools have shown that the price would have possibilities to be pushed to the upside again.
In conclusion, we will be monitoring the price action in 4H time frame, because my strategy is "Monthly,Weekly, Daily for direction & 4H for entry."
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.
From COT perspectives (Order Flow Perspectives), the net position of GBP is decreasing and hedge fund has been closing a lot of long positions and short position. Closing short position is because hedge fund has an intention to keep pushing the price into a higher price to create a retracement in order to sell at a high price. In the latest data, both closing short and long position is in a very less amount compare to precious data, this can be explained as hedge fund would be started to increase the short position in future.
However, move to MA indicators and Fib retracement, both of the tools have shown that the price would have possibilities to be pushed to the upside again.
In conclusion, we will be monitoring the price action in 4H time frame, because my strategy is "Monthly,Weekly, Daily for direction & 4H for entry."
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.