GBPUSD Trade Idea - Another Bounce? Is It Finally Time To Enter?
In the recent analysis, i mentioned that i've shifted my Bias from Bearish to Bullish since May 2022 due to my Price Action reading.
If you scroll back into the 12th May, you'll noticed that there was a Rollover, which indicate some short-term indecision in the market. 17th - 18th May was when the short-term direction shift has confirmed based on the simple EMAs cross.
On 20th May, i called a long setup based on the Impulse - consolidation setup with 1.26 as our target, which hit.
In yesterday's analysis, i mentioned that in order to attract further buying pressure, a break above 1.2610 - 1.2630 is required as there are clusters of liquidity pool holding above the minor structure.
Similar setup today, here are some of my criterias:
1. 18ema MUST stay above 50ema - short-term to mid-term directional bias
2. No sharp decline that'd signal sudden strong selling pressure
3. A solid break above 1.2630 for confirmational bias (Trigger)
Always perform your own analysis and only use this as an educational material. Trade safe and take care.
Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
If you scroll back into the 12th May, you'll noticed that there was a Rollover, which indicate some short-term indecision in the market. 17th - 18th May was when the short-term direction shift has confirmed based on the simple EMAs cross.
On 20th May, i called a long setup based on the Impulse - consolidation setup with 1.26 as our target, which hit.
In yesterday's analysis, i mentioned that in order to attract further buying pressure, a break above 1.2610 - 1.2630 is required as there are clusters of liquidity pool holding above the minor structure.
Similar setup today, here are some of my criterias:
1. 18ema MUST stay above 50ema - short-term to mid-term directional bias
2. No sharp decline that'd signal sudden strong selling pressure
3. A solid break above 1.2630 for confirmational bias (Trigger)
Always perform your own analysis and only use this as an educational material. Trade safe and take care.
Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
