GBPUSD - Pullback before Trend Change
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*** Not every idea is also traded by us ***
Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and and a few bullet points.
Monthly TF:
- Monthly Consolidation
- Market bounces between those three Levels: 1.23, 1.32 and 1.42
Weekly TF:
- Lastly, after the price reached the top monthly Level, it bounced back from the middle monthly Level.
- Now it is at the weekly Resistance
- Broke out of the descending TL --> bullish power
Daily TF:
- On daily TF, we have a Downtrend with LHs and LLs
- Recently, the price made LH and starts fall
- The discount entry for bulls and the TP of bears is probably at the orange Area of Support
This Down-movement is very likely to happen in our view.
- After that, we have two possibilities:
1) The market moves up again and breaks its LH. It makes a HH and the Downtrend would be broken.
2) The market falls down lower and makes a new LL. The Downtrend would be continued then.
- But those possibilities come afterwards
H4-TF:
- As mentioned on the daily section, a down-movement is likely in our view
- The ascending H4-Trendline is one barrier, which could make it a bit difficult to move lower
H1-TF:
- On the hourly TF we see, that the Up-Trend has changed:
- We had HHs and HLs, but now we can recognize a LH and a LL
- Equally, the Break of Support could mean SLs for buyers and that's why they'll stop buying more potentially
- Also the MACD indicator shows us strong bearish Momentum
If you have any questions, another Point Of View or anything else, don't hesitate to share them!
Thanks and successful Trading!
*** Not every idea is also traded by us ***
Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and and a few bullet points.
Monthly TF:
- Monthly Consolidation
- Market bounces between those three Levels: 1.23, 1.32 and 1.42
Weekly TF:
- Lastly, after the price reached the top monthly Level, it bounced back from the middle monthly Level.
- Now it is at the weekly Resistance
- Broke out of the descending TL --> bullish power
Daily TF:
- On daily TF, we have a Downtrend with LHs and LLs
- Recently, the price made LH and starts fall
- The discount entry for bulls and the TP of bears is probably at the orange Area of Support
This Down-movement is very likely to happen in our view.
- After that, we have two possibilities:
1) The market moves up again and breaks its LH. It makes a HH and the Downtrend would be broken.
2) The market falls down lower and makes a new LL. The Downtrend would be continued then.
- But those possibilities come afterwards
H4-TF:
- As mentioned on the daily section, a down-movement is likely in our view
- The ascending H4-Trendline is one barrier, which could make it a bit difficult to move lower
H1-TF:
- On the hourly TF we see, that the Up-Trend has changed:
- We had HHs and HLs, but now we can recognize a LH and a LL
- Equally, the Break of Support could mean SLs for buyers and that's why they'll stop buying more potentially
- Also the MACD indicator shows us strong bearish Momentum
If you have any questions, another Point Of View or anything else, don't hesitate to share them!
Thanks and successful Trading!
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