Harmonicforex
PRZ as Bat pattern on GBPUSDHello again!
Yesterday we got a really nice entry point for a big sell on gbpusd. It already ended and the market went deeper as expected. We now have a bullish bat pattern. I personally think that the price may go to TP2. The 2 green lines are the potential TP for the bat pattern. This is going to be a kind of really long trade as I'm expecting the price to dance a bit around the area that it is at this moment. Best entry point in my opinion is 1.20000, I got the chance to entry at that price.
If you're not into harmonic trading, you can also use this information to look for long positions for the next week or even short term. I link to the previous ideas of the gbpusd.
Good luck in the markets and I wish you a nice weekend!
GBPUSD ShortTime Frame: 4H
Symbol: GBPUSD
Entry: 1.21050
TP: 1.18540
SL: 1.22880
Bias: Short
The dynamic support and resistance of this pair is demonstrating a bearish bias. The oscillations and momentum study show that the pair is yet to wait for a big move but we can expect a short term price drop.
JPYUSD ShortTime Frame: 4H
Symbol: JPYUSD
Entry: 0.007332
TP: 0.007126
SL: 0.007514
Bias: Short
Though the price pattern is showing a low volatile ranging condition, there is a possibility of entering a short opportunity. Our decision is purely guided by historical price action study. So any major fundamental factor can have a massive influence to break out of this zone.
GBPUSD ShortTime Frame: 4H
Symbol: GBPUSD
Entry: 1.21623
TP: 1.19132
SL: 1.23783
Bias: Short
Our technical analysis of this pair shows a medium probability set up for a short opportunity. Considering the historical momentum and other driving forces like oscillations and volatility we are planning to go for a sell trade.