From the recent Swing Down, we have seen this really strong rally on the Pair. This comes from the Test of a Swing Low on the Daily Time Frame.
Shows that the momentum is to the upside. Although, we are entering a Sell Zone on the Daily Time Frame, hourly shows a clear bullish strength which may take us into the sell zone in the next couple of trading sessions.
My idea would be to look for a long entry in the Demand Zone marked. Various Price Action techniques can be used here for the Entry. I will probably be looking for a strong Reversal on the Lower Time Frame.
In any case, if my anticipation is wrong about the bullish bias, I would wait for further Price Action to give me any information before engaging the market.
Shows that the momentum is to the upside. Although, we are entering a Sell Zone on the Daily Time Frame, hourly shows a clear bullish strength which may take us into the sell zone in the next couple of trading sessions.
My idea would be to look for a long entry in the Demand Zone marked. Various Price Action techniques can be used here for the Entry. I will probably be looking for a strong Reversal on the Lower Time Frame.
In any case, if my anticipation is wrong about the bullish bias, I would wait for further Price Action to give me any information before engaging the market.
Komen:
Seems like GBPUSD got away from my Entry. Took the money off of my table. There's more to the pair as it gives a continuation.
