Possibility of a short move once it has broken the demand level and comes back for a retest. Will only look to take the trade if I can find 3 reasons to take it. e.g: 1) Demand level turning into support level 2) TL 3) ?Fib level? There is still a chance of the demand level holding and a bullish rally from where price is currently.
Possible short opportunity, but I would personally not take it due to a demand zone being so close by... Also not as strong fib level and resistance level.
Possible short? Could still go up to further levels...
Couple of days left in March. Would want to see how the monthly and weekly ends, and within that time we could see more confirmations regarding where the pair wants to go. The line above the current price is also the 61.8 fib level on a descending fib on the daily. So could see price going up there before it starts a bearish trend.
Not really anything that I would want to take here. Just an analysis for anyone that is curious. From what we could see last week, the spreads on gold were high, the pair is also extremely volatile at the moment.
Ready to push up towards 2.0750-2.0800. HOWEVER , do look out for price action, as price moves where it wants. Possible rejection again and decline if price does not show it wants to go up there.
Possible continuation of bullish movement before any bearish momentum?
Forgot to upload this yesterday, already in 80 pips profit... but didn't manage to catch any of my trades posted due to me being asleep....
Wait for the breakout. There's multiple things that can happen here...
Possible continuation of bearish movement and completion of the Elliot Wave.
Watch price to see what it wants it to do. Price was just the lowest it's ever been for GBP/USD. It could potentially start recovering, however, if it does start breaking all the support it's made it can plummet further down towards 1.1000.
Possible scenario for GJ, look out for fundamentals also due to the current circumstances...
Wait for Monday to end or a clear sign of rejection to one side before taking any trade.
Possible sell off from one of these zones. Daily broken the uptrend, looks like it wants to start a bearish move.