Potential Wins - Buy or Sell?
Updated
Personally had a good few wins this past 2 weeks with GBPUSD (almost 255 pips in 2 weeks), however whilst volitile markets allow for sure wins - it is the analysis of this pair that makes me consider the wider picture.
Key area for review for me is the 1.18850 ... price seems to be hovering in a indecisive manner:
4 hour chart shows price ready to break the previous support zone, now resistance and reverse the bear trend.
Lower time frame chart shows break and then rejection of 1.1885 zone, additionally showing the crossover to a bull run of the 150 and 50 EMA.
Historic patterns show that a double bottom was formed between 2016 and 2019. History repeats itself with the double low forming from 2020 - 2022, however the correction from the lowest level of 1.16 was speedy and dramatic and uncharted waters previously, in my opinion I do not think such lows are on the table - perhaps a dip to 1.18?
Whale buyers will look at the potential of the pair and I think correct the market with the idea (buy low, sell high) ...
Awaiting 4 hour confirmation but for the time being back to the day job whilst a play unfolds.
Time will tell ....
Key area for review for me is the 1.18850 ... price seems to be hovering in a indecisive manner:
4 hour chart shows price ready to break the previous support zone, now resistance and reverse the bear trend.
Lower time frame chart shows break and then rejection of 1.1885 zone, additionally showing the crossover to a bull run of the 150 and 50 EMA.
Historic patterns show that a double bottom was formed between 2016 and 2019. History repeats itself with the double low forming from 2020 - 2022, however the correction from the lowest level of 1.16 was speedy and dramatic and uncharted waters previously, in my opinion I do not think such lows are on the table - perhaps a dip to 1.18?
Whale buyers will look at the potential of the pair and I think correct the market with the idea (buy low, sell high) ...
Awaiting 4 hour confirmation but for the time being back to the day job whilst a play unfolds.
Time will tell ....
Trade active
Trade in PlayTrade active
Note
Brilliant day for scalpers yesterday!!!!Looking at the movement on the chart - trendline is still being respected as a dynamic resistance ...
I should have closed the trade in a 60 pip profit yesterday at 1.195 but held out.
Today I am looking at the 1.191 - 1.19175 zone to close the trade for a 20 pip profit.
From the 1.191 zone I will be looking at a short position to ride the channel zone ...
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