Hi fellows. GBPUSD is testing the Weekly retracement area watch top for price action and then look for short. Currently we are having short term bullish trend so it can push up for couple of pip so early short can stop you out. watch price action on lower time frame and look for impulse and then short. Good Luck
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Previous trend is still bullish any early sell may get stopped out so watch price action for sell. Specially look for bearish impulse and then look for sell.
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Watch for the flag and then look for sell if there is no flag then dont sell wait and watch for the Price action at the top the weekly pattern. Here is the update fellows.
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Keep eyes on it fellows it is forming very nice flag look for sell on the breakout good luck.
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We had nice flag formation over there but that pattern changed now watch top for sell again break above may form new high because the previous trend still in force.
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Watch trend break.
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We all can see that it is breaking but the way it is break is corrective so any sell on current price should be considered carefully if you are not in then better to wait for the price to clearly breakdown and then TCP and then you should be seller over there here is the update
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we need a bigger correction for downtrend resumption. Which is currently forming.
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So far this pair is doing an excellent work if you are not enjoying your in from top then watch for another TCP and look for trend continuation.
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Watch trend line for short. In case price break up and close above the trend line we will analyse the pattern and structure.
Thanks for the update, appreciate if you can updating atleast till tomorrow :)
Aqua_Trader
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same bias but looking at a different TF ..thanks for the chart!
Wave-Trader
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@SN_Doumet, nice chart mate
popshvt
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masterpiece!
jacksonwill
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Great idea. Thank you.
Omarhasan12
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Great trade and a very good follow-up!!!
chartmaster
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@Wave-Trader Thanks for your follow-up and update.
You wrote "Comment: we need a bigger correction for downtrend resumption. Which is currently forming."
--> How do you determine, how many waves the correction will take? Or is your graphical indication just for illustration purposes?
Many thanks!
salmanijaz
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@chartmaster, GBPUSD is following this trend for a while ... my chart below is showing the last 3 times it showed this pattern... I think now the correction phase is near to completion