GBPUSD $GBPUSD - Mar. 12th, 2024
GBPUSD
GBPUSD
- Mar. 12th, 2024
BUY/LONG ZONE: 1.27970 - 1.29425
DO NOT TRADE/DNT ZONE: 1.27550 - 1.27970 (Extended area would be 1.26950 - 1.27970)
SELL/SHORT ZONE: 1.25355 - 1.26950 (Extended area would be 1.25355 - 1.27550)
Weekly: Bullish
Daily: Bullish
4H: Bearish
1H: Bearish
Previous bullish target is shown and for the visual I did extend it on the screen. The expanded DNT and bearish zones are shown for either later or earlier entries, just depends on how the lower timeframe structure develops. Some lower timeframe levels and zones are drawn in a lighter blue for some reference areas on when to enter.
There is no indication on the weekly and daily timeframe other than current momentum that the price is going to turn bearish.
Dropping down to the 4H timeframe: structure has turned bearish and has broken down through the zone that was used to determine the bullish zone.
Dropping down to the 1H timeframe: price has created clear bearish structure and is currently holding, with a retest of the previous low, now the current structural lower high.
Bears can enter as soon as 1.27550 or wait for a later entry around 1.26950, both are displayed on the chart.
Bulls should wait for structural reversals to develop on the 1H/4H timeframes and/or for price to break back above 1.27970.
trend analysis, technical indicators, support and resistance, gbpusd, gbpusdlong, gbpusdshort, gbpusdanalysis, gbpusdtrend, trendtrading, pounddollar, gu, gulong, gushort, forex, fx,
GBPUSD
GBPUSD
- Mar. 12th, 2024 BUY/LONG ZONE: 1.27970 - 1.29425
DO NOT TRADE/DNT ZONE: 1.27550 - 1.27970 (Extended area would be 1.26950 - 1.27970)
SELL/SHORT ZONE: 1.25355 - 1.26950 (Extended area would be 1.25355 - 1.27550)
Weekly: Bullish
Daily: Bullish
4H: Bearish
1H: Bearish
Previous bullish target is shown and for the visual I did extend it on the screen. The expanded DNT and bearish zones are shown for either later or earlier entries, just depends on how the lower timeframe structure develops. Some lower timeframe levels and zones are drawn in a lighter blue for some reference areas on when to enter.
There is no indication on the weekly and daily timeframe other than current momentum that the price is going to turn bearish.
Dropping down to the 4H timeframe: structure has turned bearish and has broken down through the zone that was used to determine the bullish zone.
Dropping down to the 1H timeframe: price has created clear bearish structure and is currently holding, with a retest of the previous low, now the current structural lower high.
Bears can enter as soon as 1.27550 or wait for a later entry around 1.26950, both are displayed on the chart.
Bulls should wait for structural reversals to develop on the 1H/4H timeframes and/or for price to break back above 1.27970.
trend analysis, technical indicators, support and resistance, gbpusd, gbpusdlong, gbpusdshort, gbpusdanalysis, gbpusdtrend, trendtrading, pounddollar, gu, gulong, gushort, forex, fx,
GBPUSD
Comment:
Price broke into the DNT zone, touched the bottom level at 1.26950 before moving up and testing the top of the DNT zone again at the 1.27970 level. Price has since pushed strongly downwards, nearly touching the bottom of the bearish zone. Most recently we see price create bullish momentum and break back above the zone of 1.26250 - 1.26350 which could be signaling a reversal.
Trade closed manually:
I would consider myself done with this analysis as a reference and will need to create a new one to account for more recent price action, which will be linked in the future.
Comment:
Posting the current view before I either post eurusd or a new post of gbpusd.
4H View:
4H View:
Comment:
NEW IDEA:
TRADING WITH TONY, ACCESS TO MY PRIVATE TV CHARTS:
discord.gg/zEq4TgJFKe
discord.gg/zEq4TgJFKe
