GBP - Simplified
Looking at the open and the way things are starting to line up, this is the outcome I'm thinking is most likely.
Still hedged, waiting for the price to reach the short position, release the buys at breakeven, then let price go down to meet up with my sells down below. I will have a 4x hedge order in where the stop loss is shown (1.2295), entry at 1.2263, target at 1.217
Looking at the channel to continue up into the resistance area, then bounce down off the trend trend line from above off the double top rollover (solid yellow) and follow down the dotted yellow line to 1.217 for the target and finding some support.
Trade will follow with this idea used to track the trade, as the other one does not make much sense, except to me lol (Sorry)
Still hedged, waiting for the price to reach the short position, release the buys at breakeven, then let price go down to meet up with my sells down below. I will have a 4x hedge order in where the stop loss is shown (1.2295), entry at 1.2263, target at 1.217
Looking at the channel to continue up into the resistance area, then bounce down off the trend trend line from above off the double top rollover (solid yellow) and follow down the dotted yellow line to 1.217 for the target and finding some support.
Trade will follow with this idea used to track the trade, as the other one does not make much sense, except to me lol (Sorry)
Nota
Rising channel continues. I've seen this pattern too many times. Very High probability setup.Head and shoulders has already played, although the right shoulder is rather flat, there is aggressive selling off of it, so the level we are coming into is the neckline, and the pattern and formation of the channel coming into the neckline gives me a lot of confidence in what's coming. Target is a soft target, but I think it can go lower....
Nota
Very nice supply zone there (I have mine there too :) ) as well where the sell off began. Very strong sell of makes me think the target may be somewhere in the 1.211 - 1.213 areasNota
Price has support on 1.223, still within the extremes of the channel, even though we have come out of the core. Looking for it to try and make a new extreme (at the entry area) then start making it's way back down again Entry still valid as very probableNota
Rsi showing divergence (5 minutes), and alignment to the entry point areaNota
Antsy sellers coming in too early, stops right in the way of entry, more help to get itNota
Not taking the bait... looks like a short stop runNota
Also the extreme line of the channel, so more eager sellers going too soon, just collecting stops to hitNota
Whipsaw, then down, that's what I'm expecting right now.Nota
1.222 also has support, and probably the better one for institutions to laucnh the whipsaw stop hunt fromNota
Violence in the candles building. Big move coming, shake everyone outNota
Yes double top, yes fell out of the channelNO we're inbetween 2 key levels, so I don't believe any of it
Nota
Confuse and take.....Nota
Late eager sellers in, they'll be hurt the worstNota
Short term trendline break, hurt timeNota
😂 sorry, I saw that coming ....Nota
Now to hurt the top huntersNota
Confused are going longNota
Wait for it.....Nota
few more to go long on the other side and reach the trendline, and it's all overNota
Close but no cookie, just a bit longer, the whipsaw is not overNota
More senseless confusion, create doubts on levels and directionNota
You just wanted long, got stopped out, now you're short, you'll get stopped outNota
We'll break the high, and they'll go long at the peak, and then the bottom falls outNota
They've been bamboozoled too many times, this time they go long, forget the stop loss......Dagangan aktif
Buys closed at net positive 3 pips gainNota
All the longs and no stops will be plenty to sustain a nice moveNota
If all of my thinking is correct or at least close, all the ones holding long with no stops will be the ones to sustain the move, by gradually dumping out over time.Nota
Make them think there's hope after the first stops are hit, so they hang onNota
Get them to buy some more, thinking they'll recover losses from earlier.....Nota
Yellow trend line showing signs it's about take over.....Nota
Now dotted yellow, soon, price should fallNota
One more trap because almost nobody knows about that dotted yellow lineNota
The dotted yellow is sort of 'arbitrary'. It more or less represent the agression of the price move. I think it represents how fast orders are being moved down, and how fast orders are being filled and take effect. It's a little personal theroy I've been messing withNota
Still holding the lower sell hedge carried in since friday, no extra position at the top, but if I had one, once price finally breaks below 1.225 by a little, I would put the trade (that position) risk free, but not just yet in case we have a stop runNota
Pretty sure the solid yellow will be the limit, but they see you and everyone else sitting there too, just wait a minute more...Nota
Bringing buy stop hedge down to 1.2285Nota
See, stop run.....Nota
But if we don't drop after this, I will be a little concernedNota
Starting to get some order blocks on the 5m at the supply zone, we may be ok...Nota
Price has sort of stalled, though we do look to be pointing downward as far as things look with what's going on. Just woke from a nap, still watching and hedge stop in the same place at 1.2285Nota
Just made a dive from the top of the small channel to the extreme bottom quickly, good sign of things to comeNota
Falling out of the channel.... Now I would set the trade position to break even and let it ride to target. I'm still observing an exit for the lower buy position half of the hedge I carried inNota
"risk free" let me use proper termsNota
Buy hedge moved to 1.2271Nota
Breakout stop run to get the move started, should see some more follow through soonNota
Setting the lower hedge target to 1.22, time to get out of this one and get fresh for a new one to try and continue to target without so much weight in itNota
1.228* little room, I'd like to get on out of the lower position... Not get hedged againNota
We are back below a key level, and expecting this to be a retestNota
Hedge was pushed up, 1.2286, original spotMay get hit still, and the move is breaking down if it doesn't go now
Nota
Looking like another shakeout, or the falling apart point of the idea....Dagangan ditutup: hentian tercapai
Hedged again..... Idea brokenNota
Supply zone ran out, that was the last stand for the ideaNota
Buy hedge targeted for 1.233Nota
I would think, if nothing else, there should be lots of rejection and sellers off the top most levels of the price range weven been in for quite some time(much larger picture) seeing the strong reaction from this level before let's me know that even if it does drift up slightly higher, a rejection should very likely happen, as it did the last time we reached up here earlier today
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