Gbpusd1hr
GBPUSD Short: Hanging Man on 1hr Timeframe Trend: Bearish trend followed by LL and LH.
Support/Resistance: Blue lines are S/R levels on 1D while red lines are on 4h timeframe.
The reason behind the Short: A hanging man was spotted near the 4hr resistance at the LH of the chart. It indicates the potential downfall of the price towards the lowered support area.
SL: It is placed on the previous LH of the chart.
TP1: Placed near the support.
TP2: Placed just a little below the support area.
GBPUSD Looking At A BuyGBPUSD looking at a buy on this based upon a smart money set up although you will see i risking the sl by not placing this on the the lower swing point but im looking at the .786 to more or less hold due to formation inside the box area.
These are not trade ideas for you to take but to help identify structure and let you see haow these play out we then look back to understand the movement of the price action
What are your thoughts.........?
GBPUSD Has Formed a Revers Head&Shoulders, Going Up
Welcome back Traders, Investors, and Community!
Hi Traders, GBPUSD on H1 has formed a reverse Head & Shoulders. It has already broken above the Neckline, so all we expect is that it goes up.
⬆️Buy now or Buy at 1.3776
⭕️SL @ 1.3714
✅TP1 @ 1.3844
✅TP2 @ 1.3913
✅TP3 @ 1.4000
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GBP/USD Trading in Upward Channel.Hello traders, GBP/USD is trading at 1.3942. The price is trading in upward resistance and support channel and moving towards resistance level. If the price rebounds back from resistance level then it can possibly touch its support level. So, the entry price for short will be 1.3966, if the price rebounds from resistance level and its target will be at 1.3911.
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Rishikesh Lilawat