ANALYSIS: GBPUSD is very fragile at this moment and mainly driven by news from UKRAINE/RUSSIA conflict. I believe it's too soon for GBP to recover, but with PEACE talks coming, I can only assume the outcome. I have noticed that the price in the 4H chart is trading in Ascending Triangle formation which is more often bullish than not. The price in 1D chart breakout from Scymetrical Triangle formation. If the price will close above Fib Retracement it is possible it will complete the measured move before it will continue trading in a downtrend.
MY COMMENT: Hi. My name is Kotryna. This is my second time conquering Forex.
I am using a very simple chart set up to do my analysis. You can see technical indicators such as:
EMA20, EMA50, EMA200;
Fib Retracement;
cRSI only for spotting divergences;
And 4 trendlines.
Once all indicators align together nicely, I am looking for confirmations into a 4H chart, sentiment report, and economical calendar for the major news release.
I believe simplicity is the key to identifying the direction of the next price move.
Sometimes the analysis can look brilliant and the price is about to surge or drop, but suddenly it doesn't go as planned. That's where open-mindedness is the key. Follow the price not what you assume will happen.
First-year in Forex helped me to realize that all 20 indicators will not help you to win trades. Your approach will. For another year, I was working away from the charts to become a better trader.
SIMPLICITY | DISCIPLINE | TIMING | FLEXIBILITY
Please do not hesitate to comment on your ideas, or even drop me a message if you would like to share your outlook privately.
#protectyourmoney
MY COMMENT: Hi. My name is Kotryna. This is my second time conquering Forex.
I am using a very simple chart set up to do my analysis. You can see technical indicators such as:
EMA20, EMA50, EMA200;
Fib Retracement;
cRSI only for spotting divergences;
And 4 trendlines.
Once all indicators align together nicely, I am looking for confirmations into a 4H chart, sentiment report, and economical calendar for the major news release.
I believe simplicity is the key to identifying the direction of the next price move.
Sometimes the analysis can look brilliant and the price is about to surge or drop, but suddenly it doesn't go as planned. That's where open-mindedness is the key. Follow the price not what you assume will happen.
First-year in Forex helped me to realize that all 20 indicators will not help you to win trades. Your approach will. For another year, I was working away from the charts to become a better trader.
SIMPLICITY | DISCIPLINE | TIMING | FLEXIBILITY
Please do not hesitate to comment on your ideas, or even drop me a message if you would like to share your outlook privately.
#protectyourmoney