Most recent fundamental factors showed possibility to stay long here and add positions at decent pull backs. This is long term trading into completion of potential bearish crab that might get filled at weekly double top. Current daily price action shows very strong up trend and if I am to close longs I will pay attention at 100% Fib. In case of weekly close above...
Idea is to get into long position and reasons are : price filled bearish bat pattern, got sold to T1 and bounced due to NFP data. It is also possible that gold will trade lower towards T2 and get long from there. However, close below T1 invalidates long from here, will initiate short positions with targeting T2.
Idea is to to get long positions after bullish alt bat got filled ( a bit lower, at support TL ). Short term I will look for harmonic targets, as on the chart. I have already presented longer term outlook, which is bearish.
I truly enjoyed selling this one for last few weeks after the price hit TL resistance in supply , weekly TF, and got sold almost to the bottom of the bullish channel. It comes tricky now, imo there is almost 200 pps range in which GBPUSD can trade, bounce and take many stops both ways. Also, it has high risk political profile. Anyway, I can say that I got bearish...
Idea came from rejection of the daily highs after bearish bat completed. I consider wick as NFP noise ( I might be wrong about this ) and imo , in order to continue bullish reversal pull back is a must. I don`t think USD bulls will allow deeper pull back than T1 , maybe not at all, however, I will consider far more USD strength from T1 than from current levels....
Massive pullback resulted in falling wedge with potential breakout upside from demand. It is likely to reach first supply if wedge breaks. This might provide continuation to bearish Gartley and if this comes out as valid case - I will look for short positions in higher demand levels or if harmonic patterns fills.