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. 🛑💼
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. 📊
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. 🕒
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. ⏳💰
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.