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British Pound / U.S. Dollar
Short

GBPUSD Week 27 Swing Zones

By PinchPips
Updated
Looking at the Weekly TF, 2 zones and values are identified as SR areas

PC_Purple Candle
GC_Grey Candle
SL_Stoploss
iTP_Initial Take profit
TPf_Final Take profit
Trade closed: stop reached
SL hit @26600 for 13pips
Awaiting next Zone level @ 26900 for sell setup
snapshot
Comment
Simple bounce from the upper Resistance Zone.
Currently running +10pips from 26880
Aiming Low of the day on discretionary basis. if price breaks this level, new TP to be calculated.
snapshot
Comment
Pinched +30pips from Entry
Move SL to BE
Comment
Trade closed be (ISM News)
Reentry @ 26900
Comment
Pinched +20pips
Move SL to BE
Comment
Pinching +40 pips
Move SL to +13 (26770) for recovery of earlier loss
Discretional TPf @ 26345: if Price breaks, to be recalculated.
Comment
This where we draw the curtain
3 trades: -13/0/+55
Pinched 42 pips
snapshot
Comment
Simple bounce from 26345.
However, no trade due to market nearing close.
Will be looking for retest in the coming days.
snapshot
Comment
Price failed to form a double bottom @26345
Setting up new level @26163
Entry @26175: currently pinching +10pips
snapshot
Comment
Pinching +20pips
Move Sl to BE
Comment
Pinching +40pips.
Move Sl to +10pips
Comment
Pinching +60pips.
Move Sl to +20pips
Comment
Pinching +70pips.
Move Sl to +40pips
Discretional TPf @ 27100: if Price breaks, to be recalculated.
Comment
Move Sl to +50pips
Comment
Pinching +80pips
Move Sl to +60pips
Comment
Pinching +100pips
Discretional TPf @ 27100 broken
Move Sl to +80pips
Trade closed: target reached
Pinched +100pips
4 trades: -13/0/+55/+100
Total PP: +142pips
Comment
Last day of the week
Looking for a double top formation around Wednesday's high
Aiming for 1 trade today (due to Employment News)
Comment
Entry @ 27708
snapshot
Comment
Tight stops at -10pips
Trade closed: stop reached
SL hit.
5 trades: -13/0/+55/+100/-10
Total PP: +132pips
Week 27 concluded.
Unto Next week
ForexGBPUSDgbpusd_forecastRectangleSupply and Demandsupport_and_resistanceSupport and Resistanceswingtrading

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