Hey traders,
There is no need to over complicate things. Keep it down to the very basics, which involves, first and foremost, always make sure you spot in whichever timeframe preference you choose, what’s the current environment or situational awareness.
In the GBPUSD in particular, we have a trending market anyway you slice it (daily, weekly, monthly), with a short-term price retracement that is revisiting the origin of a huge supply imbalance (red rectangle ). This makes us build the thesis that this location would be ideal for a resumption of the downtrend, isn’t it?
Now the question is… what would be the trigger that signals is time to get back into a short trade? Here is where order flow comes in, and through the aggregation of flows via the OFA script, we can visualize the dynamic waves forming…
How these waves or cycles are constructed tend to provide the ultimate clues… as said, in the case of the GBPUSD , we are on the verge of a short entry should the M pattern complete… Not quite there yet! Besides, with a diamond trigger, the chances of seeing the M pattern fail only increase... #OPINIONLEADER#
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