GBPUSD
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β³4 Hour chart
π² Possible entry analysis
β³οΈ Possible bull/bear target
πEducational
βββββ-βοΈββββββ-
Detailed analysis π¬
1οΈβ£ Channel resiatnce-H4-Megaphone structure
2οΈβ£ November high & September high acting as strong resistance
3οΈβ£ 1.35000 acted as strong resistance
4οΈβ£ 1.34000 will act as key psychological resistance
5οΈβ£ Price below .78.6 Fibonacci retracement level
6οΈβ£ medium term upward pressure
7οΈβ£ Technical support - Bear
8οΈβ£ Price is well above POC-VOLUME
9οΈβ£ 1.29400 Immediate resistance/swing target area
π Price movement within rising channel was expected
#οΈβ£ Overall bearish trend
βββββ-βοΈββββββ-
π Technical bias-H4-Bearish
Below 100,50 Exponential moving average
200 acting as immediate resistance( Current level 1.32150)
Ichimoku-cloud is about to turn red-Price below the cloud Cloud resistance
Bollinger band- Price is around middle band-Minor rebound expected after reaching the lower side of the band
RSI- well below the neutral area - approaching oversold territory
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend was expected
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Key reversal area's
1.35000 Key psychological level
1.31800 October month high
1.35350 2020 high level
1.33500 .786 Fibonacci level
1.32000 Key psychological level
1.30700 Lower channel trend line reversal zone
1.34780 Year 2020 High
1.28638 October month low
1.33970 November month high
βββββ-β³οΈββββββ-
Bearish entry #GBPUSD
Entry price - 1.33300
Take profit 01 - 1.32300 (100 pips)
Take profit 02 - 1.31100 (190pips)
π« Stop lose 1.33800 (50 pips)
β¬οΈ 1.65% Drop expected
β€΄οΈ Account growth 0.38 : 1.65
β Risk reward ratio 1 : 4
βββββ-βοΈββββββ-
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*********
β³4 Hour chart
π² Possible entry analysis
β³οΈ Possible bull/bear target
πEducational
βββββ-βοΈββββββ-
Detailed analysis π¬
1οΈβ£ Channel resiatnce-H4-Megaphone structure
2οΈβ£ November high & September high acting as strong resistance
3οΈβ£ 1.35000 acted as strong resistance
4οΈβ£ 1.34000 will act as key psychological resistance
5οΈβ£ Price below .78.6 Fibonacci retracement level
6οΈβ£ medium term upward pressure
7οΈβ£ Technical support - Bear
8οΈβ£ Price is well above POC-VOLUME
9οΈβ£ 1.29400 Immediate resistance/swing target area
π Price movement within rising channel was expected
#οΈβ£ Overall bearish trend
βββββ-βοΈββββββ-
π Technical bias-H4-Bearish
Below 100,50 Exponential moving average
200 acting as immediate resistance( Current level 1.32150)
Ichimoku-cloud is about to turn red-Price below the cloud Cloud resistance
Bollinger band- Price is around middle band-Minor rebound expected after reaching the lower side of the band
RSI- well below the neutral area - approaching oversold territory
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend was expected
βββββ-β³οΈββββββ-
Key reversal area's
1.35000 Key psychological level
1.31800 October month high
1.35350 2020 high level
1.33500 .786 Fibonacci level
1.32000 Key psychological level
1.30700 Lower channel trend line reversal zone
1.34780 Year 2020 High
1.28638 October month low
1.33970 November month high
βββββ-β³οΈββββββ-
Bearish entry #GBPUSD
Entry price - 1.33300
Take profit 01 - 1.32300 (100 pips)
Take profit 02 - 1.31100 (190pips)
π« Stop lose 1.33800 (50 pips)
β¬οΈ 1.65% Drop expected
β€΄οΈ Account growth 0.38 : 1.65
β Risk reward ratio 1 : 4
βββββ-βοΈββββββ-
Push the like button , And cheer up if you found useful