GBPUSD: Mon 05.12.2022
Last week, we had a strong bullish week.
This week, there is no strong news ahead. Price tends to go higher to 1.26. But for now, there are no good entry points to watch.
Just minor support at 1.2300 on H1.
Price might retest 1.2150 (support on H4).
Pivot points:
1.2300 (support - H1)
1.2150 (support - H4)
1.1900 (support - D1)
1.2600 (resistance - D1)
DISCLAIMER
THIS IS NOT FINANCIAL OR TRADING ADVICE.
This analysis is just for me to keep track of my trading journal and for my review purposes.
I DO NOT recommend you follow any parts of my trading plan. I am not responsible for your trade positions based on this analysis. Furthermore, it should not be a basis or bias for taking any trade actions. The market can transform rapidly. I might change my plan or trade positions without notice.
DO your research and LOVE your money!
Happy Trade!
Last week, we had a strong bullish week.
This week, there is no strong news ahead. Price tends to go higher to 1.26. But for now, there are no good entry points to watch.
Just minor support at 1.2300 on H1.
Price might retest 1.2150 (support on H4).
Pivot points:
1.2300 (support - H1)
1.2150 (support - H4)
1.1900 (support - D1)
1.2600 (resistance - D1)
DISCLAIMER
THIS IS NOT FINANCIAL OR TRADING ADVICE.
This analysis is just for me to keep track of my trading journal and for my review purposes.
I DO NOT recommend you follow any parts of my trading plan. I am not responsible for your trade positions based on this analysis. Furthermore, it should not be a basis or bias for taking any trade actions. The market can transform rapidly. I might change my plan or trade positions without notice.
DO your research and LOVE your money!
Happy Trade!
Comment:
Wed 07.12.2022
Yesterday, price went to 1.2250-1.2260 and dropped as per yesterday's analysis. We closed the long position before stoploss might be triggered (chart was not good) and we didn't dare to open a short one because it had a strong move before price dropped.
Today, price broke support 1.2180, it can be another bearish. Today is no major news. DXY also could send another bullish day to 1.0650.
Action: Watch out at 1.2180-1.22 and SHORT to 1.2100-1.2080 (target 1) or trail stoploss to 1.20 (target 2). Note: We are still in a strong bullish trend. The target should be short.
Yesterday, price went to 1.2250-1.2260 and dropped as per yesterday's analysis. We closed the long position before stoploss might be triggered (chart was not good) and we didn't dare to open a short one because it had a strong move before price dropped.
Today, price broke support 1.2180, it can be another bearish. Today is no major news. DXY also could send another bullish day to 1.0650.
Action: Watch out at 1.2180-1.22 and SHORT to 1.2100-1.2080 (target 1) or trail stoploss to 1.20 (target 2). Note: We are still in a strong bullish trend. The target should be short.
Lesson: Should wait until the price breaks M15 recent resistance to enter the trade, the stoploss will be minimized (20-30 pips instead of 35 pips) and we have a safer position (SL is far from the daily low).
Today we have news at 15:30 Helsinki time, but it should not have a strong move.