GBPUSD, can Week 12's bear continue its move in Week 13?
Before I begin, a big apology to my fellow traders as I did not post the analysis for Week 11. I was in one of the broker's annual dinner hosted in Malaysia and I did not have my laptop with me, thus I didn't present my analysis for week 12. But nonetheless, I traded and I hope all other traders profited from the up and down movement. So lets us dive into the analysis for Week 12 now and see what can we learn for our trades in Week 13.
GBPUSD was expected to make a three-level bullish move in Week 11, however, it stopped at just two levels in Week 12. I was hoping that it can reach a higher high but seems like it didn't manage to.
The bearish move came in in Week 12 moving the price downwards aggressively and ending Week 12 in a bearish level two zone.
The analysis pointed to us that GBPUSD may continue to finish its third level bearish move in Week 13 and probably make a reversal pattern which can bring us to a bullish zone one in Week 13. That would be ideal but traders would still need to proceed with caution especially a big move has been made, the market might enter into consolidation after such movement.
My general direction still remains bearish until a pattern is being formed to indicate a bullish move. I would be monitoring and scaling in for my short position in Week 13!
I hope you guys continue to make a great profit in Week 13, and please help me to like and follow me if my analysis helped you in any way! Thank you!
GBPUSD was expected to make a three-level bullish move in Week 11, however, it stopped at just two levels in Week 12. I was hoping that it can reach a higher high but seems like it didn't manage to.
The bearish move came in in Week 12 moving the price downwards aggressively and ending Week 12 in a bearish level two zone.
The analysis pointed to us that GBPUSD may continue to finish its third level bearish move in Week 13 and probably make a reversal pattern which can bring us to a bullish zone one in Week 13. That would be ideal but traders would still need to proceed with caution especially a big move has been made, the market might enter into consolidation after such movement.
My general direction still remains bearish until a pattern is being formed to indicate a bullish move. I would be monitoring and scaling in for my short position in Week 13!
I hope you guys continue to make a great profit in Week 13, and please help me to like and follow me if my analysis helped you in any way! Thank you!
