Price could make lower plunges before it does a liquidity hunt. it should at least go up again to purge the sell-side liquidity and then proceed with the original journey. This is known as AMD, Accumulation, Manipulation, Distribution.
The GBP/USD chart has recently been moving in a bullish direction on the daily chart since the lowest low in march of 2020 due to the start of a pandemic. Because of this I looked on the 4 hour chart for a potential pull back to go long and follow the positively correlated channel. I used a diagonal line to show the support since march 2020 with a support line on...
Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on GBPUSD if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...
Here's a trade I've taken on GBPUSD.
1) Clean BEARISH rejection from major key level.
2) Recent BEARISH candles are being met with indecision candles, which indicates to me that the market wants to reverse in the opposite direction.
3) There is no clear uptrend in this area, so I predict a push down to 1.28900, then we may be looking to either go bullish or be...
Through the start of the week, I shorted on the GBPUSD at an OB that happened to be invalid and banks managed to pull me out at break-even, Anyways the run candle managed to be a BSL purge run. The candle reached the typical 20 PIP institutional run before staying under that. The new OB managed to reject price allowing the price now to finally plunge. Overall I'm...
Everything is explained on my chart really so i will just keep this short.
I am looking at opening some sells as soon as the spreads calm down and i will be holding to and possibly past my target.
If you would like to know more about my simple trading style then just message me :)
On the weekly price made a double top and is on its way down. On the daily chart we can see that price is now testing previous resistance as support. If price breaks through its current support then price should continue its downwards movement. The 4 hour chart has given me a clear wave pattern and weekly fib. 50% as well as 4hr 78.6% levels are being rejected...
After re-analysing this chart it appears we have a daily trendline which is being respected, I can see that price broke a level of resistance on the 1HR TF and is now retesting
Looking for a long opportunity on this pair
As you can see from our GREEN zone price broke through this and came back up to test it as resistance before dropping 80 pips and from here i can only see more downside moves as GBP is going to hell.
We might even get negative interest rates in 2021 which means you will be charged for money in your savings accounts.. you can imagine how many people will take...
We are currently at the breakout levels,
If GBPUSD, is able to take out the current lows
😋Then we would be in for nice profits while holding it to the downside.
As we have noticed it bouncing in and around the current level. A break and retest of that market level would be the beginning of sell entry.
Would personally be taking this trade if all criterias are met.