GBPUSD BULL MOVE
Here we can see a nice cup and handle pattern formed on the 4HR and 1HR chart which is more confirmation of my earlier analysis on the WEEKLY time frame. I personally use the 15M time frame for execution and entry and use the 1HR for perspective of momentum throughout the day. As you can see I have lined up entry point and TP points on the 15M time frame. The expectation from my point of view is that smart money will do a liquidity sweep and take SL from retail traders that bought the price at the low before the price enters into a strong bullish trend. So that is why my entry is at a low price in expectation of this but as traders we all know its a game of probabilities not certainty so I will be monitoring the market open tonight closely to see how the market is reacting. If price moves and hits both TP then I would then wait for the breakout of the cup and handle line and enter the trade again.
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