Overview of the Setup : This chart highlights a **Bullish Harmonic Bat Pattern** on the GBP/USD pair, with the potential for a reversal to the upside after completing the pattern near the critical support zone. --- ** Key Observations: 1. Harmonic Pattern : - The **Bullish Bat Pattern** completes at point X (around 1.22628), which aligns with the 0.886...
Here's an analysis based on the chart: Key Observations : 1. **Bullish Triangle Pattern:** - A symmetrical triangle or wedge is forming, suggesting potential consolidation before a breakout. - The upward trendline indicates possible bullish momentum as price approaches a breakout point. 2. **Price Levels:** - Resistance: 1.24860 (shown as the 1.13...
"That's GBP, the price go up if it's USD" = Central Cee, 21 Savage Looks like these two rappers may be onto something here, reaching the 1.618 resistance, we may see the dollar rise against the pound again causing GBP to continue falling. GBPUSD has currently pierced it's way out of the trend channel, let's see how this plays out.
A slow but a consistent rally has reached the 1.618 Fibonacci extension level. Price has been experiencing consolidation among this level, some may look at this as the "Distribution" phase before heading bearish. However, looking at past price action it seems a correction could be due for GBPCAD, maybe as far as this 1.618 extension. Until next time.
GBPCAD is on it's way to reaching the 1.618, we'll see how price reacts to this area but for now, we'll wait and see what price action will do from here on out.
On the H1 price is currently consolidating, building liquidity before shifting to the next move. With the struggle of price breaking down, to continue further going low, I'm keeping an eye around 1.22500 as the area price may return before attempting to go short again.
Although on the H1 there's a short rally, on the higher timeframe such as 4 hours, there's a peak formation on the tip of the LQP. Since the high of the week is established, I don't expect GBPJPY to rally any further to touch the high of the week. (At least this week). My eyes are on the next MLQP, 180.000.
Price is currently consolidating and this is the best time for the markets to generate liquidity before shifting with the next move. Will the Bears get their stops wiped out before shifting in their favour? Or will the Bulls take charge and change the trend?
The MLQP is at hand, will the bears continue to push dollar beneath MLQP but remain in the hesitation zone and reverse at the PRZ? Only one way to find out
After a big drop the market must chop. Trigger point for price to yield strength for price to rally up
The bears continue to push price lower, as 1.22500 is within reach, would price be able to reach this quarter point and trigger the D point of the ab=cd pattern?
Is it time for the bulls to step in after bottoming out, seems like a W formation is in the making in preparation for the rally.
GBPUSD is still on the downtrend with the bears not backing out anytime soon. However, there seems to be a change in trend as the pound creates a higher low. Question is, will that support hold and be enough for the bulls to change the course of trend towards the LQP and reach the D point of the Shark Pattern?
Wyckoff + Harmonics. Price has now gone past the H-Zone, could this setup have price reverse away from further lows or will it just be another reaction spot to temporarily halt the descend.
GBPUSD has done a Wyckoff Distribution with a 4th hit to the upside to clear out stops and a potential Bearish Butterfly pattern on the H1 timeframe. This pattern could send the price down towards the next LQP 1.25000. I'll wait for confirmation to see how price reacts to this pattern. Will it yield a reversal or a reaction?
GBPUSD did a W formation on the H4 timeframe and failed to break Wednesday's low. I expect price to rally towards the peak high of the H1 Wyckoff Distribution and have a bearish reaction afterwards. If price fails to break the low again, GBPUSD might have entered an H4 Wyckoff Distribution and could consolidate before shifting down. Look out for any peak formations.
GBPUSD has formed an inverted head and shoulders on the H1 timeframe and is heading towards last week Friday's peak. Within this formation, a bearish AB=CD pattern coincides with the hesitation zone. PRZ tips suggest that a convergence of Fibonacci numbers and specific price patterns provides a highly probable area for a reversal. The PRZ aligns with the...
GBPUSD is trending upwards, but an AB=CD pattern could mark the end of the uptrend. The PRZ coincides with the LQP 1.275 and could serve as a resistance level for the pair. Price could play around this zone and go through to 1.275, or the resistance may be too much and cause a price reversal. Look out for extension patterns as the trend reaches its end.