GBPUSD Short Trade Open:
Scout entry during what I suspect is a stop hunt of shorts that the MMs coaxed in on the earlier move down. This might go higher. RDH is not far away and the MMs can put the price wherever they want it, when they are ready to do so. Right now the price is in a previously popular area for trading, which makes me suspicious that more stop hunting is probable. I decided to start building short here in case I am wrong about further stop hunting to RDH, or even to above the upper half number.
Scout entry during what I suspect is a stop hunt of shorts that the MMs coaxed in on the earlier move down. This might go higher. RDH is not far away and the MMs can put the price wherever they want it, when they are ready to do so. Right now the price is in a previously popular area for trading, which makes me suspicious that more stop hunting is probable. I decided to start building short here in case I am wrong about further stop hunting to RDH, or even to above the upper half number.