The price action created an accumulation of candles on top of a horizontal support area that energized bulls and pushed the price significantly higher. However, one reason for that to happen is the BoE's decision to increase interest rates in December 2021. I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of the downtrend channel. FX:GBPUSD Happy New Year to everybody and may the Godmother of forex trading bring all a zillion of pips.
Comment
⋅
Please support me with your thumbs up and comments.
Trade active
⋅
Today a bullish trendline (H4) was broken. But that doesn't necessarily mean that the bears are going to push it lower than today's low. We must monitor it closely.
Trade active
⋅
H&S on M5/M15. Aiming for 20 pips.
Trade active
⋅
Looks like the pattern was too small and so it failed.