December 2022: Selling GBPUSD Pt. 7
Following Price action, I have had to constantly adapt and update my positions to take advantage of the market.
We have currently broken structure on the H4, however, we have not had any significant pullback to any of the golden ratios: 38.2, 50, 61.8. Instead price has continued in a mini trend.
To complete the trend and following the impulse of price action, as long as price does not break below 1.20234, I am expecting bullish actions to 1.2166 (38.2%), and then a sell off to 1.1713.
As always, trade cautiously. Happy New Year ;)
We have currently broken structure on the H4, however, we have not had any significant pullback to any of the golden ratios: 38.2, 50, 61.8. Instead price has continued in a mini trend.
To complete the trend and following the impulse of price action, as long as price does not break below 1.20234, I am expecting bullish actions to 1.2166 (38.2%), and then a sell off to 1.1713.
As always, trade cautiously. Happy New Year ;)
Comment:
Price has broken low I was watching. I believe we are going to break 1.19924 before we see any bullish move.
Comment:
For this morning, I would be looking for this price action for a sell
Comment:
Price broke the high, sell entry cancelled.
Comment:
London breakout: If price breaks the swing low, I would change my bias to sell, and go for the original sell target.
Comment:
lol. This is the life of a day trader. My bias has changed like I indicated. I would be looking to sell from the 78.6
Comment:
cancel the sells. Price action has invalidated it
Trade active:
That was a good trade on GBPUSD. I would be anticipating at least a pullback to discount before bullish price action to 1.2166
Comment:
I have been watching Price action and we did not pull back into discount. This is a forecast: I would be watching for price now rejecting the 38.2% of this last swing to break structure before it comes back into discount. If Price doesn't reject the 38.2, I would wait for an entry at discount (1.20371).
Trade active:
It's nice to see Price action following predictions.
Trade active:
This is why GBPUSD is so sweet!
Comment:
Price has broken my low, it looks like we are going to take out the liquidity lower. Well, I am done trading for today.
Comment:
I might not trade this, because LDN session is over, however, with Price breaking that low, the next possible price action should look like this:
Trade closed: target reached:
The buy scenario is over.
