FX_Trader_Analyst
Long

SMALLER CORRECTION AHEAD OF BULL LONGER TERM RIDE

FX:GBPUSD   British Pound/U.S. Dollar
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements

Daily
  • Pivot points: Price rejected WS2 and closed above MPP
    Support/Resistance: Price at the resistance
    EMA: Price approaching 21 after 55 was respected previously
    Trend: Consolidation after down trend
    Structure: LL,LH,HL, waiting for HH to be next
    Bias: Bullish
    Psychological levels: Ultimate level 0f 1.45 is ahead at resistance
    Stochastic: Downtrend approaching 20 oversold levels
    Fib: Price above 618 retracement
4H Chart
  • Daily Pivot: Price finished above DPP and at DR1
    Support/Resistance: Broken through closest resistance
    EMA: Price went through 21 and 55 and closed above 55
    Trend: Consolidation
    Structure: LL,LH, Double bottom,HH
    Stoch: Rising not overbought, at 50
1H Chart:
  • Suport/Resistance: At resistance
    Stoch: Overbought,seems to be ready for correction
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