Last week, start at the opening on Monday, March 24th until Wednesday, March 26th, GBPUSD had experienced sideways. On March 27, then the domination of selling volume was seen, it pressed GBPUSD declined to the lower limit of the buy zone (B1) then forming a selling zone 3.
March 28th, there was an increasing of selling volume which is stronger than the volume of the selling zone 3 which made the GPPUSD declined through the buying zone (B1) to touch the buy zone 1 and at the same time form the sell zone 2.
On Friday, March 29, the selling volume tend to be stronger than the buying volume, but it was not offset by the volume of market transactions significantly. The condition led GBPUSD had experienced a sideways between the sell zone 2 and the buy zone 1
Scenario 1.
Last week, GBPUSD was closed at 1.30342, which was close to the lower limit of sell zone 1. If next week, the GBPUSD continues to rise towards the upper limit of the sell zone and closed above the upper limit of sell zone 1, potentially the GBPUSD will go to sell zone 2. But if the price is closed below the lower limit of sell zone 1, it will try to decline to the upper limit of zone 1.
Entry
Set buy stop above sell zone 1 and set taking profit at the lower limit of sell zone 2 as the first target and upper limit sell zone 2 as the second target.
Set buy limit at upper buy zone 1 or lower limit buy zone 1, then set taking profit at lower limit sell zone 1, upper limit sell zone 1, lower and upper limit of sell zone 2.
Exit
Set Stop Lost at under of lower limit buy zone 1.
If the H1 candle is closed below the lower limit of zone 1, then set taking profit at the lower price of buy zone 1
Scenario 2
If the GBPUSD is decline to the lower limit of buy zone 1, and the price is closed below the lower limit of that zone, the price will have a chance towards buy zone 2. If there is a strong sell volume, it will fall quickly.
Set Sell Limit in sell zone 2 area, and taking profit at the upper limit of buy zone 1, lower limit of buy zone 1, upper and lower limit buy zone 2 area. Sell stop at under buy zone 1 area set taking profit at upper and lower limit buy zone 2
Exit
Set stop-loss prices above sell zone 2 area
If in timeframe H1, the price is closed above the upper limit of zone sell 2, set Taking Profit at the upper limit of the sell zone 2
March 28th, there was an increasing of selling volume which is stronger than the volume of the selling zone 3 which made the GPPUSD declined through the buying zone (B1) to touch the buy zone 1 and at the same time form the sell zone 2.
On Friday, March 29, the selling volume tend to be stronger than the buying volume, but it was not offset by the volume of market transactions significantly. The condition led GBPUSD had experienced a sideways between the sell zone 2 and the buy zone 1
Scenario 1.
Last week, GBPUSD was closed at 1.30342, which was close to the lower limit of sell zone 1. If next week, the GBPUSD continues to rise towards the upper limit of the sell zone and closed above the upper limit of sell zone 1, potentially the GBPUSD will go to sell zone 2. But if the price is closed below the lower limit of sell zone 1, it will try to decline to the upper limit of zone 1.
Entry
Set buy stop above sell zone 1 and set taking profit at the lower limit of sell zone 2 as the first target and upper limit sell zone 2 as the second target.
Set buy limit at upper buy zone 1 or lower limit buy zone 1, then set taking profit at lower limit sell zone 1, upper limit sell zone 1, lower and upper limit of sell zone 2.
Exit
Set Stop Lost at under of lower limit buy zone 1.
If the H1 candle is closed below the lower limit of zone 1, then set taking profit at the lower price of buy zone 1
Scenario 2
If the GBPUSD is decline to the lower limit of buy zone 1, and the price is closed below the lower limit of that zone, the price will have a chance towards buy zone 2. If there is a strong sell volume, it will fall quickly.
Set Sell Limit in sell zone 2 area, and taking profit at the upper limit of buy zone 1, lower limit of buy zone 1, upper and lower limit buy zone 2 area. Sell stop at under buy zone 1 area set taking profit at upper and lower limit buy zone 2
Exit
Set stop-loss prices above sell zone 2 area
If in timeframe H1, the price is closed above the upper limit of zone sell 2, set Taking Profit at the upper limit of the sell zone 2