Analysis of #GBPUSD
Hi traders, today we will have a look at #GBPUSD
The GBPUSD moved to the side with strong momentum today, at its highest was up almost 1.80% or 1.2300, just not too while ado the GBPUSD was 1.0300 and trees were expecting parity.
The trend is to the upside and you now saying the trend is your friend, so in this market, we better be looking for buy entries only.
As you can see from my chart we have clearly defined trend line support, and we also have a clear support zone.
The first level to look for a buy entry is near the structure support zone near 1.21500, looking for a reversal pattern near this level, such as double bottom or head and shoulders, if you want to be aggressive you can look reversal candle pattern, or we might get a harmonic pattern and use as an entry.
The second level to look for a buy is at trendline support, we can follow the rules from the first entry to the second entry as well, looking for reversal patterns trendline support, or harmonic patterns
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
Hi traders, today we will have a look at #GBPUSD
The GBPUSD moved to the side with strong momentum today, at its highest was up almost 1.80% or 1.2300, just not too while ado the GBPUSD was 1.0300 and trees were expecting parity.
The trend is to the upside and you now saying the trend is your friend, so in this market, we better be looking for buy entries only.
As you can see from my chart we have clearly defined trend line support, and we also have a clear support zone.
The first level to look for a buy entry is near the structure support zone near 1.21500, looking for a reversal pattern near this level, such as double bottom or head and shoulders, if you want to be aggressive you can look reversal candle pattern, or we might get a harmonic pattern and use as an entry.
The second level to look for a buy is at trendline support, we can follow the rules from the first entry to the second entry as well, looking for reversal patterns trendline support, or harmonic patterns
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
