FX:GBPUSD   British Pound / U.S. Dollar
Eyes on the pound dollar chart reveal a resolute bullish trend. If contemplating a shorting opportunity, meticulous strategy testing and conservative stop-loss management are paramount. πŸ›‘πŸ’Ό

Turning to the weekly chart, a pullback effortlessly rests on prior resistance, indicating the enduring strength of the overarching bullish trend. Daily chart support stands steadfast, with potential traders wary of a head and shoulder formation at 1.2831. However, personal experience dismisses this due to the prevailing robust momentum and familiarity with the pattern after 18 years of trading. πŸ“Š

Glancing at the four-hour chart, a consolidative phase presents several trading prospects, soon to be unveiled. On the hourly chart, further confirmation emerges within the consolidation phase, unveiling ample trading opportunities. πŸ•’

Returning to the weekly chart, analysis and strategies take center stage. Within the buy zone, prospects for buying opportunities flourish.

Daily chart showcases a bullish gartley pattern on retest, inviting trading action. The four-hour chart displays a gartley pattern with a retest setup, accompanied by a prolonged consolidation period spanning 68 bars. This scenario prompts a choice between swift engagement or risk-reward patience. β³πŸ’°

For those aiming for counter-trend maneuvers, a shorting chance beckons at 1.2955 via a bearish shark pattern. Alternatively, a bullish bat pattern on the hourly chart, yet to solidify, offers a preferable entry at 1.2636. Trading transcends mere trend analysis, requiring timeframes, filters, and entry conditions for success. The ultimate goal is profit without undue trade extension.

We believe that we should not slog our life away. Keep working to the minimum. How about 15mins a day?

Get into our 15mins workday community

Live session & Trading Tips on the GO

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.