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Gu

GBPUSD Sell SetupVery nice, Price gave a different form of bearish pattern. At this point, everyone can clearly see this is a reversal pattern: Head and shoulder. Price will make a pullback to go lower, so no, we haven't missed the sell opportunity for the end of the week. The 2 scenarios are possible, but with H&S pattern, it is more likely for price to retest the neckline and then give a 350pip drop. 5mins to 15mins CHoCH is the key for a good entry to sell after the retest. I would also be watching for an opportunity to buy to the sell zone. **As always, Trade cautiously.
Short
by SwingingPrime
3
GBPUSD - ShortGU is following the flow, being a bit more resilient thant euro, but still, it's beeing hit pretty hard by dollar strenght. But, this trade could be taken just looking at TA, I entered it last thursday night after the wick that came to retest the 50% Fib level and the trendline, but, I still believe an entry could be made on the last daily candle. For those working on smaller TF, just look for retracement, break and retest, make sure you gat a 2:1 RR at least and go! Like every trade, it might not make it but hey, if you're being consistent on your entries rules then, probabilities will fall in your favor with time. I think this trade is falling into my requirements. Why am I shorting GU : 1) Strong selling pressure on GBP/strong buying pressure on USD 2) GBP made a strong downward movement, 3) it retraced to 50% FIB 4) it broke and retested the trendline it was in since last october. 5) my TP is above next support @ 1800ish + level Let's keep on riding this one! Cheers and safe trading! Leave your comments!
Short
by aemerydufoug
GBPUSD Bullish Setup Week 1 Jan. 2023Following Price action, GBPUSD did not fall as far as estimated for December 2022. However, this is still a Seller's market. Using Technical Analysis, I am anticipating at least a 200pip drop to 1.1881 before price retest supply zones at 1.229. It is important to wait for price to take out liquidity at 1.21076 before we see the drop. **Please remember, this is a public service, I do not try to catch all the moves in the market. I use my Top-down analysis to confirm directions on my intraday trades. My bias changes ALWAYS to adapt to price action. We have a direction for price action in the first week of January. My analysis might help you profit by looking for trades in the momentum of price. As always, trade cautiously.
Long
by SwingingPrime
19
GBPUSD Bullish Setup Jan. Week 2, 2023The long anticipated bearish retracement came through. Price met my bearish target from previous analysis (see referenced ideas) at 1.1881 and broke structure on the H4. For this coming week, following price action I would be anticipating a retest of the discounted zones at 1.1936 before a bullish run to 1.2298. My idea for potential price behaviour using the path I drew is just taking advantage of the demand and supply zones between targets. Price action can change. As always, trade cautiously.
Long
by SwingingPrime
5