GBPUSD: First red day

5 de jun.Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week ✅ no cycle
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range
  

2. SIGNAL DAY

• First Red Day ✅
  
• First Green Day
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump ✅
  
• Dump&Pump
  
• Frontside
  
• Backside ✅
  

4. THESIS:

• Long: secondary, trend continuation through the HOW, I can see this scenario as a higher into Friday high, dump and today consolidation for a major move.
  
• Short: primary, although I agree with both the scenarios today, I prefer keep following signals and process to stick my plan. Weekly pump and dump with a potential move down going to stop long traders from Monday.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

5 de jun.

Comentário

DAILY OVERVIEW

Understand that no other time frames are in the market yet and the market is In balance. Not a nice RR yet for this pair. I personally would wait for the market to trigger a daily level first or pumping for 50 pip. technical analysis gives me only RR, not a directional decision

5 de jun.

Comentário

New still on calendar, this market pumped up 35pip, and collapsed at 10am new hour, after the news. I did not take this trade, not a great RR as I expected. Still, Pump and dump scenario