The Pound has been very bullish over the last couple of weeks but it has hit a major resistance level the has been consistent for several weeks. I expect the pound to test this area with fakeouts before revealing its true direction I would only test and scalp the pound for a short time interval until a more clear direction emerges
look at it and think before entering any pair included (GBP) ..
Market opened and wicked the area I had marked out to take my trade from. Looks as though it will be looking to rally towards the 1.335 level I had mentioned last week. Another 0% drawdown entry. Depending on the momentum throughout the rest of the day, may even extend TP to 1.339 level as that looks to be the next stop once TP1 has been reached. 1:7 RR =...
Inverted head and shoulder (bearish reversal pattern) printing on the 4-hr timeframe. This can be used with the previous confluence of the daily morning star that printed earlier this week, posted below. This will be used to take in direct alignment with trading for tomorrow's U.K. and U.S. session's.
GU Short Structure for 14:45:15 (UTC) Tue Sep 29, 2020
Just another idea related to GBP. Seen this pair in a downtrend for a while but I saw bullish divergence on higher TF I am holding from near the bottom again but still looking for another runner after a retest. Should be a bit more in this move up! TP’s are listed. Place stops on levels of support. Do your own TA too!
I’m holding from the bottom but I’m looking for entries after a retrace for the long ride up to 1.22. BXY recovery only seems to increase the likelihood of this playing out. Good luck in your trading!
We have been trading GBPUSD in our sell setup and sharing it with you. Falling from 1.2800 level is bouncing and pulling back at channels trend lines and respecting the technical analysis pattern. Trade with our setup to get the maximum output from the pair with a true breakout when it happens.
NOTE:Truths -Traders will do the same thing over and over again. -In trading, no one to blame and no one to question what price did. -Price can break any low/High because anything can happen. If you fully allign your thinking in line with the truth about the market then you will win.