GBPUSD is one of the currency pairs I mostly track & trade.
Bias: Bullish
There was a huge drop in price not long ago, and now it's heading back up in a "V" formation. Price had broke a very significant area when it was declining so I would take that as a precursor for what can potentially come in the near future.
Confluence (3 or more):
1. P.A. is within a continuation HTFZ. Bull's favor.
2. Previous Ledge ($1.2359) was breached & broken. Bull's favor.
3. P.A. is printing HHs & HLs from a bullish Order Block.
A B.A.R. of the $1.2417 level is what I'll be looking for in order to execute long positions, but always stay flexible. We shall see.
Bias: Bullish
There was a huge drop in price not long ago, and now it's heading back up in a "V" formation. Price had broke a very significant area when it was declining so I would take that as a precursor for what can potentially come in the near future.
Confluence (3 or more):
1. P.A. is within a continuation HTFZ. Bull's favor.
2. Previous Ledge ($1.2359) was breached & broken. Bull's favor.
3. P.A. is printing HHs & HLs from a bullish Order Block.
A B.A.R. of the $1.2417 level is what I'll be looking for in order to execute long positions, but always stay flexible. We shall see.
Trade closed: target reached
Done deal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.