GBP/USD
Monthly
• Moving Averages crossed to the downside
• Price action found support on monthly level of 1.29767
• Price action appears to have been making a correction after a long extended bullish run
Weekly
• Moving averages crossed to the downside indicating bearish momentum
• Price action making a bearish structure of lower lows and lower highs
• Price currently made a morning star candlestick formation leading to reversal
Daily
• Moving averages about to cross to the upside
• Bullish bearish trend-line drawn and has been broken hence price entering the buy zone
• Change in structure occurring because prince has been making higher highs and higher lows prior to the break
• Price action reacting to the daily resistance level of 1.32893
4 Hour [Execution Time Frame]
• Moving averages about to cross to the downside
• P.A has been making a higher highs and higher lows which is a bullish structure but since touching the daily resistance level it has been dropping
• Fib levels have been drawn and we now expect price action to start reacting to these level particularly the 50.00 level
• Price action entered the buy zone and we are strictly looking to go long
• Await P.A to react to the fib level and enter on a high probability set up
NB: IF ANYONE WANTS TO KNOW HOW I TRADE OR WHATS TO LEARN FROM HOW I BREAK DOWN CHARTS FEEL FREE TO CONTACT ME WILL HELP YOU.
• Moving Averages crossed to the downside
• Price action found support on monthly level of 1.29767
• Price action appears to have been making a correction after a long extended bullish run
Weekly
• Moving averages crossed to the downside indicating bearish momentum
• Price action making a bearish structure of lower lows and lower highs
• Price currently made a morning star candlestick formation leading to reversal
Daily
• Moving averages about to cross to the upside
• Bullish bearish trend-line drawn and has been broken hence price entering the buy zone
• Change in structure occurring because prince has been making higher highs and higher lows prior to the break
• Price action reacting to the daily resistance level of 1.32893
4 Hour [Execution Time Frame]
• Moving averages about to cross to the downside
• P.A has been making a higher highs and higher lows which is a bullish structure but since touching the daily resistance level it has been dropping
• Fib levels have been drawn and we now expect price action to start reacting to these level particularly the 50.00 level
• Price action entered the buy zone and we are strictly looking to go long
• Await P.A to react to the fib level and enter on a high probability set up
NB: IF ANYONE WANTS TO KNOW HOW I TRADE OR WHATS TO LEARN FROM HOW I BREAK DOWN CHARTS FEEL FREE TO CONTACT ME WILL HELP YOU.
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