THE FRACTAL NATURE OF PRICE- GBPUSD IS IT TIME TO SELL?
From the chart work you all will be able to see the fractal nature of price.
What is seen on the 5MIN can also be seen on the 4hr or even the 2day.
We've seen a very bullish GBPUSD since the beginning of COVID-19. Also according to structure a bullish market consists of HH and HL, which we can also see on the WEEKLY of GBPUSD.
Price tapped into a supply zone which seems to be holding strong ; as there is a mini break of structure.
Also we can notice the Distribution schematics forming on the 2day which might cause price to drop in other to mitigate untapped POI's. Following the Daily Distribution is a 4hr Distribution which further confirms our sell bias. As price dropped rapidly, took out liquidity and broke mini 4hr structures, imbalances and Institutional candles were left unmitigated ;which leaves us with the expectation of banks moving price higher so as to mitigate there orders and cause further drops.
What is seen on the 5MIN can also be seen on the 4hr or even the 2day.
We've seen a very bullish GBPUSD since the beginning of COVID-19. Also according to structure a bullish market consists of HH and HL, which we can also see on the WEEKLY of GBPUSD.
Price tapped into a supply zone which seems to be holding strong ; as there is a mini break of structure.
Also we can notice the Distribution schematics forming on the 2day which might cause price to drop in other to mitigate untapped POI's. Following the Daily Distribution is a 4hr Distribution which further confirms our sell bias. As price dropped rapidly, took out liquidity and broke mini 4hr structures, imbalances and Institutional candles were left unmitigated ;which leaves us with the expectation of banks moving price higher so as to mitigate there orders and cause further drops.