Why I think GBPUSD Will Be Buying This Week
Hey Rich Friends,
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I wanted to share my technical analysis of GU this week. I think it will continue to buy and here is what I am looking at.
- The candles have already rejected the previous support/demand zone
- The candles have crossed above the 50 and 200 EMAS
- The STOCH is facing up, the blue is above the orange and both lines are above 50
- I have 2 potential areas highlighted for buy limits, meaning I think that the market will retrace to these areas before continuing the bullish trend
I would wait for:
- Structure to be broken on the 4H time frame and to close above the previous high
I have entered this trade for market execution and also have buy limits set. TPs should be set above previous highs and SL should be set below previous lows.
Remember that this is just a technical analysis so make sure to check the news and confirm with your indicators.
Peace and Profits,
Cha
Happy Pisces Season! As a gift to everyone, I have a very special offer for my eLearning platform where you can save over 50% on all mentorship plans. You can register by clicking here or filling out this form.
I wanted to share my technical analysis of GU this week. I think it will continue to buy and here is what I am looking at.
- The candles have already rejected the previous support/demand zone
- The candles have crossed above the 50 and 200 EMAS
- The STOCH is facing up, the blue is above the orange and both lines are above 50
- I have 2 potential areas highlighted for buy limits, meaning I think that the market will retrace to these areas before continuing the bullish trend
I would wait for:
- Structure to be broken on the 4H time frame and to close above the previous high
I have entered this trade for market execution and also have buy limits set. TPs should be set above previous highs and SL should be set below previous lows.
Remember that this is just a technical analysis so make sure to check the news and confirm with your indicators.
Peace and Profits,
Cha
Trade closed: target reached:
Supply and demand for the win!
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