My Insane Price Map of GBPUSD
This is a multiple target price forecast and is aggressive to say the least, having 6 price objectives. This is for fun anything can happen in the market. While I don't believe the market to be random, I don't think that it is that predictable.
Prices shown are my estimate followed by a range of 10 pips, 5 on each side of price, to account for volatility. Step #4 has a larger target range as noted.
1. I think GBPUSD will first retrace to approximately 1.3705 (1.3700-1.3710), this is within the Fibonacci 50-61.8% retracement.
2. After retracement I think price will impulse bearishly to 1.3647 (1.3642 - 1.3652), this will fill inefficiency and grab some liquidity before reversing for a break of structure. The direction of this false break out I think is the actual intent.
3. After triggering sellers into the trade and hitting buyer stop losses, price should impulse and bullishly break structure to 1.3773 (1.3768 - 1.3778). This would draw in breakout buyers, while triggering seller stop losses above the highs. This level also is within a higher time frame supply zone. The impulse away from this zone should create another supply zone that would be utilized in the 5th leg of this map.
4. After leaving the higher time frame supply zone, price should impulse to 1.3608 (1.3580 - 1.3612). This range is larger due to the open inefficiency that price might fill before retracing back to the supply zone created in #3.
5. Retrace back to supply zone created in #3 to 1.3750 (1.3745 - 1.3755), this would be a deep retracement back to supply and would print what would be considered a head and shoulders pattern.
6. Impulse from the new supply down to 1.3525 (1.3520 - 1.3530). This price objective is by my own method, coincidentally it lines up with a prior support and resistance level.
These are my thoughts based on some widely known analysis methods and some proprietary methods that I've been experimenting with. This is not financial advice or a signal. Take a look and follow along to see if this idea plays out. I'm certain these steps of price are on a sliding scale of improbability as the steps progress.
Prices shown are my estimate followed by a range of 10 pips, 5 on each side of price, to account for volatility. Step #4 has a larger target range as noted.
1. I think GBPUSD will first retrace to approximately 1.3705 (1.3700-1.3710), this is within the Fibonacci 50-61.8% retracement.
2. After retracement I think price will impulse bearishly to 1.3647 (1.3642 - 1.3652), this will fill inefficiency and grab some liquidity before reversing for a break of structure. The direction of this false break out I think is the actual intent.
3. After triggering sellers into the trade and hitting buyer stop losses, price should impulse and bullishly break structure to 1.3773 (1.3768 - 1.3778). This would draw in breakout buyers, while triggering seller stop losses above the highs. This level also is within a higher time frame supply zone. The impulse away from this zone should create another supply zone that would be utilized in the 5th leg of this map.
4. After leaving the higher time frame supply zone, price should impulse to 1.3608 (1.3580 - 1.3612). This range is larger due to the open inefficiency that price might fill before retracing back to the supply zone created in #3.
5. Retrace back to supply zone created in #3 to 1.3750 (1.3745 - 1.3755), this would be a deep retracement back to supply and would print what would be considered a head and shoulders pattern.
6. Impulse from the new supply down to 1.3525 (1.3520 - 1.3530). This price objective is by my own method, coincidentally it lines up with a prior support and resistance level.
These are my thoughts based on some widely known analysis methods and some proprietary methods that I've been experimenting with. This is not financial advice or a signal. Take a look and follow along to see if this idea plays out. I'm certain these steps of price are on a sliding scale of improbability as the steps progress.
The Charts Are My Art.
FiReZ Trading Strategy
Money Printers Trading Group
FiReZ Trading Strategy
Money Printers Trading Group
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