Helloe my follower,
In my previous analysis on GBPUSD, i shared that the GU was going to sell due to my weekly analysis and smaller Time Frames (TF).
However, you have seen how US.DOLLAR is; it's week against major currencies, and GOLD (XAUUSD) has completed a bullish flag descending moves, and now is looking to go bullish as i am anticipating that it's ginna be very bullish after the correction it made...(Check my previous and latest analysis on GOLD to see).
GOLD and GBPUSD are in Negative Correlation with USDJPY (specifically, DOLLAR).
So, in this analysis, i have used FIBONCCI RETRACEMENT; This tool is very vital and very useful if you wanna know where the market is most likely to end when doping or going for correction. Normally, my rule is; after 3 levels of the market maker, the market makes a correction (You can check this idea on my other analysis i have shared before).
Whenever you are looking for Correction zone, use Fibonacci.
In this analysis, the market is making a massive correction. So far it has had 2 levels going up (As indicated with yellow numbers), so now the market is going for a 3rd lvele. Currently, the market is in the RESISTANT LINE which is acting as our CEILING. SHOULD WE BREAK THIS LEVEL AND RETEST IT, WE WILL BUY AS IT WILL BECOME OUR FLOOR!!!!!
For me, this might be the trade of the month!!!!!
I hope everything makes sense.
Cheers...
In my previous analysis on GBPUSD, i shared that the GU was going to sell due to my weekly analysis and smaller Time Frames (TF).
However, you have seen how US.DOLLAR is; it's week against major currencies, and GOLD (XAUUSD) has completed a bullish flag descending moves, and now is looking to go bullish as i am anticipating that it's ginna be very bullish after the correction it made...(Check my previous and latest analysis on GOLD to see).
GOLD and GBPUSD are in Negative Correlation with USDJPY (specifically, DOLLAR).
So, in this analysis, i have used FIBONCCI RETRACEMENT; This tool is very vital and very useful if you wanna know where the market is most likely to end when doping or going for correction. Normally, my rule is; after 3 levels of the market maker, the market makes a correction (You can check this idea on my other analysis i have shared before).
Whenever you are looking for Correction zone, use Fibonacci.
In this analysis, the market is making a massive correction. So far it has had 2 levels going up (As indicated with yellow numbers), so now the market is going for a 3rd lvele. Currently, the market is in the RESISTANT LINE which is acting as our CEILING. SHOULD WE BREAK THIS LEVEL AND RETEST IT, WE WILL BUY AS IT WILL BECOME OUR FLOOR!!!!!
For me, this might be the trade of the month!!!!!
I hope everything makes sense.
Cheers...
