GBPUSD Short time strategy.
It is difficult to enter the GBP with a neat waveform like the ones in textbooks, but since I am thinking of using the same strategy for the USD/pairs in general this week, I will post an idea 🙏.
The monthly chart shows that the momentum of dollar selling that has continued since April this year is weakening due to the breakout of Monthly chart HL (---purple line M) and the trend line.
On the weekly chart, the pound was bought back due to factors such as Thanksgiving, when the US market is not moving and liquidity is low, and the rebalancing at the end of the month (commonly known as the London fix), which I think overlaps with the movement based on the fact that corrections will occur if important support and resistance lines and zones are broken.
On the daily chart, return high and the SR zone have been broken out vigorously by the candle leg, but it appears that dead cross MA is suppressing the momentum.
on the 4 hour chart, It was actually held down once for 4 hours, and the second attempt was also held down and closed for weekend. Currently, it is moving above the 4-hour MA.
Summary. Strategy.
1. Purple curved line. Long.
A market pattern where the momentum of buying the GBP from last week remains.
The daily chart will see some crrection pushed by dead cross MA on Monday, but it is thought that it will try to rise again from around the 4-hour MA to the purple dotted line.
2. Red curved dotted line. Short.
A market pattern where the buying momentum is weak.
Short when it breaks through the purple dotted line and returns.
Price has Holding down by the weekly zone and daily MA.
3. Gray curved line.
If the buying momentum on the daily chart does not stop,
wait and see until the next zone, the gray line MSR,
or take long position by touching the MA on the lower chart below 4 hours.
Happy tradings.
The monthly chart shows that the momentum of dollar selling that has continued since April this year is weakening due to the breakout of Monthly chart HL (---purple line M) and the trend line.
On the weekly chart, the pound was bought back due to factors such as Thanksgiving, when the US market is not moving and liquidity is low, and the rebalancing at the end of the month (commonly known as the London fix), which I think overlaps with the movement based on the fact that corrections will occur if important support and resistance lines and zones are broken.
On the daily chart, return high and the SR zone have been broken out vigorously by the candle leg, but it appears that dead cross MA is suppressing the momentum.
on the 4 hour chart, It was actually held down once for 4 hours, and the second attempt was also held down and closed for weekend. Currently, it is moving above the 4-hour MA.
Summary. Strategy.
1. Purple curved line. Long.
A market pattern where the momentum of buying the GBP from last week remains.
The daily chart will see some crrection pushed by dead cross MA on Monday, but it is thought that it will try to rise again from around the 4-hour MA to the purple dotted line.
2. Red curved dotted line. Short.
A market pattern where the buying momentum is weak.
Short when it breaks through the purple dotted line and returns.
Price has Holding down by the weekly zone and daily MA.
3. Gray curved line.
If the buying momentum on the daily chart does not stop,
wait and see until the next zone, the gray line MSR,
or take long position by touching the MA on the lower chart below 4 hours.
Happy tradings.
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.
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.