GBPUSD - 2024.01.07
Updated
Well, it's such a long time since last idea.
Here is my current thought on GU.
+ In Weekly perspective, GU has raised sharply from 1.2 to 1.3 for first half of the 2023, especially from around end of Q1. Then it had a full retracement to retest the 1.2 level. I have expected it not to retrace this deep but around 1.25. Market showed that I was wrong. Anyway, the weekly chart still in uptrend so I expect it will clear the 1.315 high of 2023 in this 2024 year.
+ Daily: clearly see it a bullish move, the bull still control the game with no demand failed yet. It was sideway in December as usual. It was leaving some liquidity below 1.26 but i don't know will it take this or not. Overall, I will keep looking for buy in mid-term.
+4H: it's a little mess with me right now, It clear the equal low with just 1-2pip and this not a valid liquidity-grab with me. Right now we have a trading range from 1.25 to 1.28. Perhaps I gonna find some short setup with more confluent to clear that liquidity. Another way is just simple wait for the price to come to 1.25 or break the 1.28 high, after that, I will go up with the mid-term bull move.
*1H:
Here is my current thought on GU.
+ In Weekly perspective, GU has raised sharply from 1.2 to 1.3 for first half of the 2023, especially from around end of Q1. Then it had a full retracement to retest the 1.2 level. I have expected it not to retrace this deep but around 1.25. Market showed that I was wrong. Anyway, the weekly chart still in uptrend so I expect it will clear the 1.315 high of 2023 in this 2024 year.
+ Daily: clearly see it a bullish move, the bull still control the game with no demand failed yet. It was sideway in December as usual. It was leaving some liquidity below 1.26 but i don't know will it take this or not. Overall, I will keep looking for buy in mid-term.
+4H: it's a little mess with me right now, It clear the equal low with just 1-2pip and this not a valid liquidity-grab with me. Right now we have a trading range from 1.25 to 1.28. Perhaps I gonna find some short setup with more confluent to clear that liquidity. Another way is just simple wait for the price to come to 1.25 or break the 1.28 high, after that, I will go up with the mid-term bull move.
*1H:
Trade active
Manage to get one short position on last Friday, run up to 2.5R but now the price look like it goona go up.Hmmm....
Note
Well, fianlly. 1.25 here we go
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