GBPUSD Uptrend Analysis
Updated
I marked up this chart last night also. However, different from USDCAD I got in this trade. As you can see price left a lot of liquidity in the market when it dropped straight down from that 1.3000 level. Then when price came back up it broke structure and made a higher high and retraced to make its first higher low. During the second impulse move price didn't just wick and make a high but it closed above the wick of the previous high, just about. Price then formed its second higher low and before making a new high price took a rest which is marked out in the red box. I realized that GBPUSD is very famous for that, which also makes me second guess myself hence why I have a BUY ZONE and a SELL ZONE. However, I went with my first mind and got in the trade for a buy right before price started resting and bought it all the way to my TP1. I woke up this morning to profits, all excited!! Price looks like it wants to hit my TP2 but we'll wait and see.It'll probably start heading down now because it got close enough. Things I learned from this markup is that GBPUSD likes to rest before making major impulse moves. Price literally repeated itslef back to back just in opposite trends. Thasss crazzzyyyy. I can't wait to share more of my markups with you. Please don't hesitate to leave a comment. I would love to read your thoughts!
Trade closed: target reached
I'm so happy to update you that TP 2 was hit!
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