Price has entered the Supply Liquidity Zone to fill the gap. we have two equal highs that have been created, R1 and R2. Both occur at 1.1993. Price is now in the 1.2010 - 1.2036 area.
We have a combination of two resistances in this area. Horizontal Resistance at 1.2000 and Pivot Point Resistance at 1.2036. Market Profile and volume analysis is showing us that there is a lot of selling volume (supply) here. Lot of unfilled orders will cause a drop in price.
UK economy is not looking too good at the moment but yet the GBP is gaining strength against the CHF..I believe the big players and Institutions are doing market Manipulation to deceive a lot of people to buy in so that they can trigger their sell orders.
Trade Idea is to go short with entry at 1.2016. As usual we enter with a tight stop loss to reduce our risk in case the market reverses and changes direction. Sniper Entry. Supply and Demand
We have a combination of two resistances in this area. Horizontal Resistance at 1.2000 and Pivot Point Resistance at 1.2036. Market Profile and volume analysis is showing us that there is a lot of selling volume (supply) here. Lot of unfilled orders will cause a drop in price.
UK economy is not looking too good at the moment but yet the GBP is gaining strength against the CHF..I believe the big players and Institutions are doing market Manipulation to deceive a lot of people to buy in so that they can trigger their sell orders.
Trade Idea is to go short with entry at 1.2016. As usual we enter with a tight stop loss to reduce our risk in case the market reverses and changes direction. Sniper Entry. Supply and Demand