Get started
Realismtm

GBPUSD Buy

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Realismtm Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Supply and Demand Fibonacci gbpusdlong smartmoney supply_and_demand
1
0
trendanalysis supplyanddemand fibonacci gbpusdlong smartmoney supply_and_demand
Because the DXY had such a strong bullish rally, it cause XXXUSD pairs to tank lower. The 1hr zone did not hold and currently pricing within the 4hr zone. This is an ideal buy entry as long as the zone holds and create bullish bos on the smaller tf. TP will be set at the high point of 1.25200 GBPUSD

snapshot
Comment:
On the smaller 1hr TF price has entered a nice order block. If price develops, creating a series of HH/HL would be an ideal entry area.

Will wait till tomorrow's NY session for an entry, as the London session will show if the 1hr zone will hold or not. SL is placed below the 4hr Low, a tighter SL would be placed below the 1hr low.

snapshot
Comment:
GU did tap into the 1hr zone but decided to take off higher during the London reaching into the 1.24800 resistance level. Noticed a slight retracement on the smaller TF, however, did not enter since it was during the Asian session (which is not apart of my trading plan: NY/London Session only). During the NY session, can expect retracements down after strong London bull run. Will re-asss for another buy entry as price develops.

Overall TP was not met at 1.25200, so will wait patiently for another possible setup

snapshot
Comment:
Another confluence for XXXUSD pairs went on a massive bullish rally is due to the DXY tanking in price during the London session.

snapshot
Disclaimer

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.