Gushort
GBPUSD $GBPUSD - Mar. 12th, 2024GBPUSD FX:GBPUSD - Mar. 12th, 2024
BUY/LONG ZONE: 1.27970 - 1.29425
DO NOT TRADE/DNT ZONE: 1.27550 - 1.27970 (Extended area would be 1.26950 - 1.27970)
SELL/SHORT ZONE: 1.25355 - 1.26950 (Extended area would be 1.25355 - 1.27550)
Weekly: Bullish
Daily: Bullish
4H: Bearish
1H: Bearish
Previous bullish target is shown and for the visual I did extend it on the screen. The expanded DNT and bearish zones are shown for either later or earlier entries, just depends on how the lower timeframe structure develops. Some lower timeframe levels and zones are drawn in a lighter blue for some reference areas on when to enter.
There is no indication on the weekly and daily timeframe other than current momentum that the price is going to turn bearish.
Dropping down to the 4H timeframe: structure has turned bearish and has broken down through the zone that was used to determine the bullish zone.
Dropping down to the 1H timeframe: price has created clear bearish structure and is currently holding, with a retest of the previous low, now the current structural lower high.
Bears can enter as soon as 1.27550 or wait for a later entry around 1.26950, both are displayed on the chart.
Bulls should wait for structural reversals to develop on the 1H/4H timeframes and/or for price to break back above 1.27970.
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WC 19 June GBPUSD Intra-Day Sell SetupCould reverse any day this week.
MRN for the pound tomorrow. Would be good to see what it does.
Structure break M15 has yet to happen but intermediate LTF structure has.
In the HTF's GU still very bullish.
This is a short term sell setup
If price goes beyond and stays above 1.2850, this setup becomes invalid.
GBPUSDThanks for all the support from everyone if you noticed our chart changed but still following our previous set ups this will be the first official mark up for the year 2023 and now we will publish more ideas
The new idea is based of the imbalance made earlier and we are in for another short
Follow for more
GBPUSD Daily TF analysisGU looks to have made a skew double top on the daily time frame on a resistance zone, and on the EMA resistance, I still think that we will sell this pair as I said yesterday. They came to look for stop losses, but painted a better picture by doing so, confirming a strong resistance 1.13272. I am in a sell from 1.11972 from last night. So will see how the rest of the day plays out.
GU flipped into bearish #2 (update)GBPUSD had nice bull rally from 1.3565 to 1.14952 with perfectly creating HH and HLs which later flipped into bearish at 1.14952.
It failed to break above HH but later breaks below HL, also it broke below the Rising wedge pattern which is considered as a bearish chart pattern that points to a reversal after a bull trend. Target of Rising wedge pattern are usually at where it started from which is around 0.618 fib level and yet not completed.
It confirmed the flip of trend by making LL and LHs, currently is in downtrend channel .
Entering short when candle confirms the break of ascending trendline would be perfect with SL at above previous LH which is 1.3% only. It would be low risk high reward play.
I'll do 3 TPs i.e. TP1- 0.5 fib, TP2- 0.618 fib and TP3 would be at 1.3565. Which we closed previously
GU retracted back to ascending trend-line which we broke previously and have updated on post 1 to add new shorts from that range
TP 1 : 0.5 fib
TP 2 : 0.618 fib
TP 3 : bottom of trendline
GBPUSD SHORTOn the M1 & W1, we see that price just broke a key level to the downside. This tells us that we are in a down trend and will expect to take sells from lower timeframe.
On the D1, we see a double bottom that initiated a brief uptrend. This aligns with the intervention of the BoE in the bond market that strengthened the cable. But the cable is still bearish so i am expecting the bears to come in at that 0.618 fib that align with resistance.
Going into next week, i am going to be looking for weakness in the cable and selling opportunities.
GBPUSD MID TERM HUGE SELL OPPORTUNITYUse appropriate risk management. Last few posts have been incredibly successful so I'm using lower risk on this one.
My strategy is a confidential, but those that trade my posts don't get carried away with my extreme accuracy and how I usually have little to no drawdown - USE SLS!
This is a mid to potentially long term trade.
The target is lower than GU has been my entire lifetime and probably yours too, so most will disagree but I like to differ from the crowd in trading so the target is very much achievable nonetheless.
Potential GU SellPrice has tapped into my HTF supply/order block area, then price proceeded to react and break past the last demand area now shifted to supply (marked D2S).
Will be looking to sell from my area of interest. (Price can also go onto to react from my extreme supply/order block area as there was a D2S shift there as well)
Let's see what happens...
GU the long short.Been watching this all day, had one succesful trade and one bad trade, this should hopefully top the day off, finally getting to the 1.22500 level ish and not breaking the resistance, so we should see a sell. 1st TP at 1.22240, if hits that then I will make second positions SL BE so guaranteed profit.