GBPUSD BUY! IDEA
Updated
-The Price has recently broken a very strong Daily Resistance zone while forming an over-extended W formation
-After an over-extended W formation we will be expecting a retracement to neckline of the w formation,
in this case it is in the newly broken resistance which now turn support.
-this is an ideal structured scenario because after the market has broken the resistance zone we would really like to see for the new support to be tested
Trading Plan
- i will be looking for buy opportunity after the retracement (at the support zone)
- always look for confirmation for the market to shift from a bearish to a bullish market
TAYOR!
-After an over-extended W formation we will be expecting a retracement to neckline of the w formation,
in this case it is in the newly broken resistance which now turn support.
-this is an ideal structured scenario because after the market has broken the resistance zone we would really like to see for the new support to be tested
Trading Plan
- i will be looking for buy opportunity after the retracement (at the support zone)
- always look for confirmation for the market to shift from a bearish to a bullish market
TAYOR!
Note
The Price has now reach our Support Zone!today's FRS announcement may disturb technical analysis due to unstable political changes. Be careful!
If price breaks the support zone, I will be looking for a short to the lower trendline,
however if the price shifts to a bullish pattern , I will definitely be looking for a LONG opportunity!
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