Good Day Everyone
Here's a look at the GBPUSD pair in the coming week from multiple time frames
MONTHLY
* On the monthly time frame the pair has been trading in an XABCD butterfly pattern that has held up pretty well in the last weeks we saw a big drop in the pound from everything happening fundamentally and a Fibonacci retracement to this drop in the price of pound we see the GBPUSD pair respecting the 61.8% fibonacci & 50% fibonacci levels holding structure.looking for continuation to the upside on the pair as a bullish candle is building from the 50% Fibonacci retracement level.
WEEKLY
*ON the weekly the sentiment is still the same we have entered into an uptrend inside an ascending channel hitting HH & LH, we have a significant bullish candle pushing up looking for continuation of this move above previous swing high signalling long hold on the pair and confirming that uptrend.
DAILY
* looking at the daily the picture gets clearer as we rallied out of an ascending channel, pushed down pulled back up to retest and now we broke out of descending channel tested resistance level 1.25180 forming a double top which could signal a pull back before continuing to the upside and that's where we are at the moment, looking for a retest of structure before continuation to the upside..
4h chart and lower time-frames perfect for entries and clearer picture of where the price is headed look for significant confirmations for this moves and follow your rules before entering the trade.
thank you and happy trading everyone
_____________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
TP1 - 1.25676
TP2 - 1.26825
__________________________________________________________________________________________________________________________
If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT
Here's a look at the GBPUSD pair in the coming week from multiple time frames
MONTHLY
* On the monthly time frame the pair has been trading in an XABCD butterfly pattern that has held up pretty well in the last weeks we saw a big drop in the pound from everything happening fundamentally and a Fibonacci retracement to this drop in the price of pound we see the GBPUSD pair respecting the 61.8% fibonacci & 50% fibonacci levels holding structure.looking for continuation to the upside on the pair as a bullish candle is building from the 50% Fibonacci retracement level.
WEEKLY
*ON the weekly the sentiment is still the same we have entered into an uptrend inside an ascending channel hitting HH & LH, we have a significant bullish candle pushing up looking for continuation of this move above previous swing high signalling long hold on the pair and confirming that uptrend.
DAILY
* looking at the daily the picture gets clearer as we rallied out of an ascending channel, pushed down pulled back up to retest and now we broke out of descending channel tested resistance level 1.25180 forming a double top which could signal a pull back before continuing to the upside and that's where we are at the moment, looking for a retest of structure before continuation to the upside..
4h chart and lower time-frames perfect for entries and clearer picture of where the price is headed look for significant confirmations for this moves and follow your rules before entering the trade.
thank you and happy trading everyone
_____________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
TP1 - 1.25676
TP2 - 1.26825
__________________________________________________________________________________________________________________________
If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT
Comment:
ON THE MONTHLY
Comment:
ON TH
Comment:
ON THE WEEKLY
Comment:
ON THE DAILY
Trade active:
target 1 reached adjust sl to break even and hold risk free
Comment:
target 1 success looking for a retracement then continuation
Related Ideas
GBPUSD DAILY
PULEMokhothu
about GBPUSD
GBPUSD WEEKLY
PULEMokhothu
about GBPUSD
GBPUSD MONTHLY
PULEMokhothu
about GBPUSD