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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
December 2022: Selling GBPUSD Pt. 8With Price breaking the low of 1.20176, Price action changed and has clarified the trend developing. Price rejected a major resistance zone at 1.2105 forming a 3rd wave of the trend. Therefore, my current bias is bearish, and I would be looking to sell into LDN session to the 161.8% expansion (1.1858). Currently, we have what looks like a lower asian high, however, I expect price to take out liquidity of the NY high created yesterday to discount at 1.2088 before breaking the current asian low at 1.20149. Remember to be adapt, and as always trade cautiously.
Short
by SwingingPrime
19
December 2022: Selling GBPUSD Pt. 7Following Price action, I have had to constantly adapt and update my positions to take advantage of the market. We have currently broken structure on the H4, however, we have not had any significant pullback to any of the golden ratios: 38.2, 50, 61.8. Instead price has continued in a mini trend. To complete the trend and following the impulse of price action, as long as price does not break below 1.20234, I am expecting bullish actions to 1.2166 (38.2%), and then a sell off to 1.1713. As always, trade cautiously. Happy New Year ;)
Short
by SwingingPrime
7