gbpusd ... so what is the story ?
Yesterday super messy ... trend was down but no selling pressure. This is gauged by studying PA and by seeing if there are valid sow in the down push like no demands or upthrust , which yesterday there were not.
So from this we can determine that yesterday was a potential test day . what does that mean ? if smart money want to take something higher they have to dry up all supply and make sure that supply is not present above them .
In order to do this they will take an asset down on low volume to see if the sellers appear . This will form a test .
GBPUSD daily yesterday was a narrow spread bar on lower volume than prior days. So in today's chapter i will be looking for UPTREND / break out of the London open range with a break out of yesterdays highs at 840 level and move towards 950 if this happens.
Yesterday super messy ... trend was down but no selling pressure. This is gauged by studying PA and by seeing if there are valid sow in the down push like no demands or upthrust , which yesterday there were not.
So from this we can determine that yesterday was a potential test day . what does that mean ? if smart money want to take something higher they have to dry up all supply and make sure that supply is not present above them .
In order to do this they will take an asset down on low volume to see if the sellers appear . This will form a test .
GBPUSD daily yesterday was a narrow spread bar on lower volume than prior days. So in today's chapter i will be looking for UPTREND / break out of the London open range with a break out of yesterdays highs at 840 level and move towards 950 if this happens.
Blogging daily now at www.volume.zone
5