GU has broken and has been breaking previous market structures, only to keep going higher. GU should keep buying the whole week returning to previous supply / highs. This is just an idea
Spotted Wyckoff MODEL on GBPUSD in short zone! - Confirmation for shorts - price sets below 1.22
As detailed on my chart, I am looking to sell for about 50pips, and then buy for about 80pips to conclude the bullish move for this week. It's been a good ride. Next week might see massive bearish moves.
I would be looking for a pullback setup to 88.6, then a sell before the final buy of this week. Price action is showing steady exhaustion to the bullish run of the week.
Price broke the high, so my previous idea to sell became invalid. I would be look for a pullback to the indicated OB for a buy to TP. We just have one news item on the docket today. There's no more room for further downward price action.
The Buy setup held...thankfully. I gave the entry in the earlier setup. We need one more push to reach the TP at 1.22747. I would be anticipating the reversal at 1.21396 or at the demand zone. The key is a 15min BOS. I would add more positions only after the pullback. As always, trade cautiously.
If we do not have a 15min pullback and price breaks the high, I would be expecting a resistance at around 1.2206 that would take out the liquidity of 1.21399 before shooting to TP. Manage your positions adequately.
I am currently in a sell with GBPUSD to my buy entry at 1.21340. I would be buying to TP for about 141pips for today. This is part of my ongoing buy analysis on GBPUSD. The buy setup might not have been as simple as point A to point B, but it has given direction to understanding the movement of GBPUSD.
just a quick video on how i executed on this GU trade.Just some small insights into how i take a position.
Trend continuation, pennant broke! Yalla. The resistance 1.23 level needs to break.
Price action is not encouraging for the earlier setup. Well, every trader must be adaptable. I looking to sell from the 38.2% to 1.20625 about ~100pips, if Price keeps building up into supply. I would be looking buy positions after that.
Running trade, 1.1924 entry. Right on liquidity zone 61.80% fib. TL channel is broken/ retested.
38.20% fib level is holding strong, will close the trade if we break below 1.21506 and will re-enter buys at the 61.80% level
shorting for retest. expecting 61.80 but will close half position at 38.20. Over all we are bullish on GU.
I would be looking for another sell entry on GBPUSD
I would be looking for entries to sell GBPUSD to 1.15996 as part of the retracement in my analysis.
While getting ready to sell, I can see a Wyckoff distribution forming. I would do a short buy ~70pips if the setup presents itself, before selling.
I am currently buying GU for 256.4pips. *This is not signal, but a reflection of my trading activities.