GBPUSD DAILY UPDATE - BUY DIPS AFTER WAVE4
HELLO GUYS, NOW THAT MOST IF THE UNCERTAINTY IS LEFT BEHIND, THE KEY DEVELOPMENT IS THAT THERE WON'T BE A HARD BREXIT FOR THE GBPUSD, THERE WILL BE SOME TURMOIL, YES,
BUT FORGET ABOUT DOOMSDAY SCENARIOS - 1.1000 AND OR PARITY, EVEN 1.2000 IS WAAAY TOO REMOTE FROM CURRENT LEVELS.
RIGHT NOW I RECOMMEND TO FOCUS ON BUYING DIPS ONLY PRINT BELOW 2620 VOIDS THE BULLISH SETUP.
DIPS NEAR 2700 ARE TO BE BOUGHT. FINAL TARGET FOR BULLS IS 3250.
RETAIL SENTIMENT RIGHT NOW IS 70-80% SHORT GBPUSD, SO FURTHER GAINS ARE VERY LIKELY.
ALSO A NOTE ON PLAYING THIS ON SELL SIDE. YES, YOU CAN DO THAT, BUT MAKE SURE YOU USE A VERY TIGHT STOP LOSS.
PERSONALLY, I'D RATHER GO WITH THE FLOW, SO I WILL SIT THE WAVE 4 OUT.
GOOD LUCK TRADERS, AS ALWAYS IF THIS ANALYSIS ADDS VALUE TO YOUR TRADING
FEEL FREE TO UPVOTE ME. THANK YOU!
BUT FORGET ABOUT DOOMSDAY SCENARIOS - 1.1000 AND OR PARITY, EVEN 1.2000 IS WAAAY TOO REMOTE FROM CURRENT LEVELS.
RIGHT NOW I RECOMMEND TO FOCUS ON BUYING DIPS ONLY PRINT BELOW 2620 VOIDS THE BULLISH SETUP.
DIPS NEAR 2700 ARE TO BE BOUGHT. FINAL TARGET FOR BULLS IS 3250.
RETAIL SENTIMENT RIGHT NOW IS 70-80% SHORT GBPUSD, SO FURTHER GAINS ARE VERY LIKELY.
ALSO A NOTE ON PLAYING THIS ON SELL SIDE. YES, YOU CAN DO THAT, BUT MAKE SURE YOU USE A VERY TIGHT STOP LOSS.
PERSONALLY, I'D RATHER GO WITH THE FLOW, SO I WILL SIT THE WAVE 4 OUT.
GOOD LUCK TRADERS, AS ALWAYS IF THIS ANALYSIS ADDS VALUE TO YOUR TRADING
FEEL FREE TO UPVOTE ME. THANK YOU!
Note
STILL VALID RIGHT NOW.EXPECTING WEAKNESS TO LAST FOR 6-10 DAYS BEFORE NEW LEG UP.
Note
STILL VALID. 2700 MIGHT GET HIT THIS WEEK. NICE SETUP ON SELL SIDE TO KICK START THIS WEEK. BUT BE PREPARED TO LOAD UP ON BUY SIDE ONCE WAVE4 IS COMPLETED.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.