Long

GBPUSD Bullish Setup Week 1 Jan. 2023

Updated

Following 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.

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Hiya, Happy New Year! I am currently watching for this price setup for the sell part of this week.

Trade active

First trade of the year! Watching for my next entry to BOS.

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I havent entered yet, still expecting price to give a higher discounted entry

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Entry scenario: If price breaks the recent low, then I would also anticipate this price action.

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At last, Price made a move. GBPUSD now has a BOS, i would be waiting for the retest.

Trade active

I had set an entry and went to bed. It was not my best entry, however, lets continue watching price action.

Trade closed manually

Would wait for a higher entry, and in LDN session

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hmmm...possible scenario

Trade closed: target reached

Yes!

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Next Trade idea:

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Price has travelled too far, we might not retest the demand zone turned supply. I would be watching for distribution at the 38.2%

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I might do a short buy to the 38.2; the zone I am watching. Remember, I don't try to capture all the moves of the market, just taking advantage of price action to profit.

Trade closed: target reached

Nice! would be watching for price reversal at the 78.6 and the 88.6

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There was no pullback to buy, instead price went back to discount for a sell. I would be watching for a 5min BOS for sell entry.

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I would be watching for either of these patterns on the 15mins for an entry.

Trade active

My SL is at BE already to avoid sob stories.

Trade active

Remember, I am looking for a 15min BOS. So we are not out of the woods yet.

Trade active

nice!

Trade closed manually

I just closed my trade for NY session. I might not trade anymore today, unless price comes into my anticipated zones. We might have this for price action. As always trade cautiously.

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Good morning :)
I would be watching for either of these price actions:

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No entry. Price broke the high, complicated pullbacks. I would be watching for either of these:

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Thanks to chimpsky for helping me take a step back. The sells are over. We've got multiple break of structures on the 15mins and 1hr signifying reversal. I also observed the trend already hit a 0.618% expansion. I would be waiting for a retest to buy now.

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We might have an opportunity here:

Trade active

Price took my entry at the 38.2, without breaking the recent low. The setup still looks valid. However, I anticipate price reversing to take out major liquidity when it gets to its destination.

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Trade closed: target reached

SwingingPrime

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