GBPUSD Swing Analysis (20-25/10/2024)
Hello Traders.
Following last week trade forecast:
1.GBPUSD is still bullish for me long term. Price will take some time to form our expected setup.
2. On this timeframe i have highlighted the range the market has been trading within after bearish BOS. Price did not see a stronger bullish run after high impact news on Friday but instead price remained trading between the Wednesday High and Low.
3. I have used those high and low to highlight the range the price is within and applied by FIB set up to get the premium sell Entry with the stop loss just above the previous strong High.
Note: For me this is a B+ setup since it is counter trend trading. therefore we should be mindful with the risk at hand. Price can invalidate our set up by pushing above the strong high.
Following last week trade forecast:
1.GBPUSD is still bullish for me long term. Price will take some time to form our expected setup.
2. On this timeframe i have highlighted the range the market has been trading within after bearish BOS. Price did not see a stronger bullish run after high impact news on Friday but instead price remained trading between the Wednesday High and Low.
3. I have used those high and low to highlight the range the price is within and applied by FIB set up to get the premium sell Entry with the stop loss just above the previous strong High.
Note: For me this is a B+ setup since it is counter trend trading. therefore we should be mindful with the risk at hand. Price can invalidate our set up by pushing above the strong high.
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