GBPUSD
Updated
If GBPUSD comes up like this, it will be a nice entry for Long. I see the following possible scenario:
- Impulsive break
- Possible teacup formation
- Possible H&S formation (if it also makes a BoS there, we will have one more confirmation for an upmove).
- Impulsive break
- Possible teacup formation
- Possible H&S formation (if it also makes a BoS there, we will have one more confirmation for an upmove).
Trade closed manually
Due to the latest GBP market news, the structure I was looking for has been broken. The teacup pattern was the there, but the shape of the flag was not able to form properly. Instead, the price made a sharp move towards my marked supply zone and easily moved onto the next one before making its upmove. I never trusted the trade, so I didn't take it.
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