🔰 GBP/USD — Waiting to test our slow zone before the spike 🔰 🔻 Same with GBPUSD nothing changed and closed Doji as other pairs — The market is slow before the market closes
🔹 We are still in the Bullish market which we waiting for the price to retest and create another Higher High
🔹 The price could visit our Slow Zone before it goes up
🔔 If we get any Bullish DXY the Slow Zone will be tested
Gu
GBPUSD INSIDE BAR BREAK UPGBPUSD on the 4h chart is making inside bar, an inside bar on the 4h chart basically represents a 1h consolidation, so you look for price to break the previous candles high and you place your stop beneath the inside bars low. these offer great risk reward and usually fast impulsive trades, so fingers crossed
GU Weekly analysisOver the past couple of weeks GU has provided us with an ascending triangle creating higher lows with a respected resistance level at 1.37458. We are looking for price to test this level, either reject and go short to test the support leg of the ascending triangle or test and break through resistance and create a higher high.
GBPUSD POSSIBLE PULLBACK SHORT 15 min bearish engulfing gave possible entry at resistance , structure still showing uptrend so well have to wait for confirmation on a lower high to possibly give us the head and shoulder formation to take the sell to a prz , from the prz looking to close and enter a buy
GBP/USD In Range... Low Risk Trade- GU made it to the top of the range today after a VERY strong bullish move.
- Most recent highs were liquidated but still holding our highs from last week.
- Session POC has been moved up to the top of the range indicating Big Money is back defending that level.
- Time based Volume also indicating this as we see the highest volume node at the high of the day.
- The bull run was completed, bottom to top in 8 hours. 8 Hour ATR was 52.8 pips, the run was 134.7, over-extending that ATR by 81.9 pips.
- Price has created a Double Top at our Resistance zone indicating a possible reversal.
- Looking for a retrace back to mid-range levels and see what happens there if we close or we keep holding.. only time will tell.
- If we do get stopped out of this trade, that will indicate that we've broken out of the range. Therefore, at that point we would be looking for a retrace back into that breakout zone for a continuation to the upside.
Shorting at the top of the range provides a low risk, high reward trade. Try to avoid taking trades in the middle of a range as like what happened today, price continued up very strongly and would have stopped out anyone trying to short in the middle.