GBPUSD short - Liquidity, Over extended
On GU I see a nice potential short setup. The price is right now overextended to the upside. The price broke through all Resistance / Supply Zones. At this point a lot of retail money is in the market. They see this uptrend and they are joining it. This is the Liquidity in the market right now which the market movers would like to collect. They already collected yesterday all the liquidity form retail trader shorting the market at resistance and right now they are manipulating the market pushing it to the upside to illustrate a strong continuation of the uptrend.
We may still continue higher but if we will get a nice Price Action Confirmation at the retest of the Support break, then we will drop down till the Demand Zone marked on the chart.
Also after such an impulsive move on the daily and h4 timeframe you want to see at least a retracement. This will be perfect in alignment with the Demand Zone marked on the chart.
This is the area were I am looking to close my shorts and also the area to look for buys. Long Term we will push higher. TP: 1.40
What do you think?
We may still continue higher but if we will get a nice Price Action Confirmation at the retest of the Support break, then we will drop down till the Demand Zone marked on the chart.
Also after such an impulsive move on the daily and h4 timeframe you want to see at least a retracement. This will be perfect in alignment with the Demand Zone marked on the chart.
This is the area were I am looking to close my shorts and also the area to look for buys. Long Term we will push higher. TP: 1.40
What do you think?
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✔️ Telegram(german): t.me/dariusfxtrading
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