Hello traders around the world!
Let's talk about GBPUSD
First we must notice that there is a mass psychology since March 1985 (Price around 1.053)
On the high time frame (weekly chart), we can clearly see a descending channel since 2009 till present time showing us an upside gravity.
The price currently reached a mass psychology since March 2020 and we might see reversal patterns in this area for longs.
The best quality area for a long position on this pair is the area where the weekly lower trend line and the rejection line (1985 mass psychology) meet;
Which is between 1.07146 & 1.05325.
I will be looking for reversal patterns to execute a long position.
If I miss the reversal pattern, I will be waiting for continuation patterns.
Never have the fear of missing out a trade.
Patience is key.
#ThePrimes
Let's talk about GBPUSD
First we must notice that there is a mass psychology since March 1985 (Price around 1.053)
On the high time frame (weekly chart), we can clearly see a descending channel since 2009 till present time showing us an upside gravity.
The price currently reached a mass psychology since March 2020 and we might see reversal patterns in this area for longs.
The best quality area for a long position on this pair is the area where the weekly lower trend line and the rejection line (1985 mass psychology) meet;
Which is between 1.07146 & 1.05325.
I will be looking for reversal patterns to execute a long position.
If I miss the reversal pattern, I will be waiting for continuation patterns.
Never have the fear of missing out a trade.
Patience is key.
#ThePrimes