#GBPUSD TRADE SETUP

22 apr 2022

To start off, GBPUSD WEEKLY time frame was bearish all the way to the DAILY and the 4H time frames. On the DAILY we had a quite some consolidation which left equal lows but no new highs created. Going down to the 4H time frame the liquidity setup on the low was quite clear to see. Price pulled back to the high of WEDNESDAY, took it out (grabbed liquidity/Stop Hunt) but failed to make a close-then shifted below structure, leaving a bearish order block in view to be validated. Going lower to the 15m time frame, we see a clear 15m bearish order block in line with the HTF bearish order block. Limit order was placed right at the order block which was 16 pip STOP LOSS and going for the retail liquidity on the DAILY and 4H time frames for a 1:14R trade.