Goodmorning squad, hope you all are doing well, lets get this trading day started BAYBEEEE. Before we get into it be sure to leave a llike and feel free to follow because i post constant gbp ideas as well as gold. If there are any other pairs youd like to see, type them in the comment section and i will consider ther pair depending on the market for it.
But without further a due, lets hop into it:
As we can see, last night, or london session rather, the price of the pound was very slat, very minimal price movement, and towards the end of the london session (like very early in the US), the price decided to decline a little bit. AS of a few minutes ago, price decided to spike upwards and this can either be a major stop hunt or market maker trying to move back to the upside.
My tips to you is to wait until we hit one of the levels i have marked on the upper bound area of a chart. Basically wait for a level where price gets rejected and see the price action afterwards. We would need to wait for those levels to be broken or for price to get a rejection. We wouldnt want to enter now because its foolish to enter in the middle of a move.
In true honesty, longs seem more likely simply because if we takea. look at the 4H, the market is still technically trending upwards. So let's wait for price to hit these upper resistances that way we can have a safe and precise entry ito the market. Remember, mitigate risk, maximize reward. Thats what we are all about as traders, profits dont matter as profits follow good trading.
Thanks for reading this yall, sorry the analysis is kind of less structured, price isnt giving me any hints as of now LOL.
Remember: OBSERVE, EXECUTE, PLAY. JOIN THE PRECISION FAM AND FOLLOW ME!
But without further a due, lets hop into it:
As we can see, last night, or london session rather, the price of the pound was very slat, very minimal price movement, and towards the end of the london session (like very early in the US), the price decided to decline a little bit. AS of a few minutes ago, price decided to spike upwards and this can either be a major stop hunt or market maker trying to move back to the upside.
My tips to you is to wait until we hit one of the levels i have marked on the upper bound area of a chart. Basically wait for a level where price gets rejected and see the price action afterwards. We would need to wait for those levels to be broken or for price to get a rejection. We wouldnt want to enter now because its foolish to enter in the middle of a move.
In true honesty, longs seem more likely simply because if we takea. look at the 4H, the market is still technically trending upwards. So let's wait for price to hit these upper resistances that way we can have a safe and precise entry ito the market. Remember, mitigate risk, maximize reward. Thats what we are all about as traders, profits dont matter as profits follow good trading.
Thanks for reading this yall, sorry the analysis is kind of less structured, price isnt giving me any hints as of now LOL.
Remember: OBSERVE, EXECUTE, PLAY. JOIN THE PRECISION FAM AND FOLLOW ME!