GBPUSD - 28 February 2022
In terms of HTF, we are in strong bearish momentum, price is reacting off a 4H OB, we get a V-shape recovery, it's sign of demand kicking in. However, based on we are in strong bearish trend and now price has given a 15m bearish CHoCH and price is respecting supply after 15m CHoCH, I will be aware of getting involve.
There is a chance price could continue the bearish now with the newly formed supply chain. Now price has swept the 15m IRL, price is now in the pullback, but whether I want to look for Long depends on whether the low hold, if there is evidence showing the low is holding, I might get into a short-term Long. Else, I will still remain short bias, if 15m bearish CHoCH is presented, I will be favoring in short.
There is a chance price could continue the bearish now with the newly formed supply chain. Now price has swept the 15m IRL, price is now in the pullback, but whether I want to look for Long depends on whether the low hold, if there is evidence showing the low is holding, I might get into a short-term Long. Else, I will still remain short bias, if 15m bearish CHoCH is presented, I will be favoring in short.
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