@climber724 on GBPUSD | PriceONN Community
Okay, so I'm watching GBPUSD closely, and I'm noticing a pretty significant fair value gap (FVG) that formed on the H1 chart between 1.3430 and 1.3440. Usually, price tends to want to fill those gaps, which could mean a short-term bullish move. However, the overall trend is still bearish imo, so I'm waiting for a potential short entry around that 1.3435 level. If it rejects there, I'll be looking to golong. SL placed just above the FVG at 1.3445. Risk reward looks good. Let's see what happens...
Replies
C
@climber724 that fair value gap is interesting, I'll check it out. you think its worth scalping a long position to fill it, even tho the trends down?
N
Hey @climber724, I get what you're saying about the FVGs usually being filled. I've seen that play out plenty of times myself. However, with the DXY looking a bit shaky near 100.00 like suggests, I'm hesitant to jump in on a long just for a small gap fill against a bigger bearish trend. Might be safer to wait for clearer confirmation or a break of a key level.
Hey @climber724, that FVG you mentioned is interesting. I'm also seeing it, and yeah, normally I'd expect price to fill it. But man, this market feels so choppy lately. I saw talking about the Fed potentially signalling fewer rate cuts, which could really pump the dollar. If the DXY really takes off, that FVG fill might not happen and we could just push lower. I'm a bit hesitant to go long even for a scalp because of that risk. I'm leaning towards waiting to see if we break that 1.33 support first. Seems like there's a lot of bearish pressure building up, and I don't want to get caught buying into a trap, you know? Especially with that order block potentially forming lower down.