Hello Traders,
GBPAUD recently trade into a strong monthly supply zone and since then has printed a bearish price structure. What I would like to see is if the price trade back up to any of my daily supply order blocks, during which I will be monitoring to see if there will be a 1-hour CHOCH to take a short.
What you should notice is that we have a daily sell-side liquidity to be swept which is just above the daily demand order block.
It will be nice to see price rally before going to hunt this sell-side liquidity so I will be able to take a short trade to target that level.
Follow me for more market breakdowns.
Cheers,
Jabari
GBPAUD recently trade into a strong monthly supply zone and since then has printed a bearish price structure. What I would like to see is if the price trade back up to any of my daily supply order blocks, during which I will be monitoring to see if there will be a 1-hour CHOCH to take a short.
What you should notice is that we have a daily sell-side liquidity to be swept which is just above the daily demand order block.
It will be nice to see price rally before going to hunt this sell-side liquidity so I will be able to take a short trade to target that level.
Follow me for more market breakdowns.
Cheers,
Jabari