GBPUSD W1: IHS BULLS / 1 000 pips correction SOON (UPDATED) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT because I expect 1 000 pips correction soon once we hit the neckline.
This is update/recap of the setup posted on 18th August 2020. click play to recap. if you followed. you made money. congrats. GBPUSD W1: IHS BULLS / 1 000 pips correction SOON (UPDATED)
🔸 Summary and potential trade setup ::: GBPUSD 1week/candle chart review ::: maxed out / rejected at neckline ::: 900 pips downside remains ::: short sell any rips/rallies ::: Dollar losses overextended now ::: Inverted H&S setup ::: 3350 neckline of IHS setups ::: reversal possible next few weeks ::: SHORT IT from neckline TP RS ::: strong upside next few months ::: TP BEARS is 21060 SL 100 pips ::: Recommended strategy: SHORT IT ::: SWING trade setup / no fast results here ::: big moves in FX next few months ::: good luck traders 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BULLS ::: Sentiment outlook mid-term: BEARS/REVERSAL