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Gpbusd

Trading The Forex Master Pattern (Part 3)Continuing our analysis from friday: A, B, C, - Classic Forex Master Pattern funnelling out action as detailed previously D - Price failed to expand low, grab buy side liquidity and take out the C low, an indication price might reverse to take out C high E - 4H heikin ashi rotated to red and price entered a supply zone above value, this was a nice spot for a sell according to our basic strategy F - Now we wanna see price holding below the value line and respecting the downward pitchfork frequency, this will increase the odds of price moving lower to finally grab that buy side liquidity at G and perhaps resume the downtrend. The only problem is that the 4H heikin ashi rotated to green, we wanna see it rotate back to red. G - It is where we wanna see price go to complete the expand low and perhaps resume the downtrend
Short
by Never_Enough_FX
How do I prefer to trade GBPUSD in a middle term. 1. Price is inside of ascending channel, so my position will be long. 2. I don't exclude that price could retest previous high making Double Top pattern. 3. However, I prefer to wait and see if top of a channel will be touched. 4. I prefer to enter from current however the SMA200 on 4h still being untouched so price could falls more. 5. Risk management is always mandatory. Each forecast could be totally wrong. Base only on your own ideas.
Long
by UnknownUnicorn163516