GBP/USD Possible H&S
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GBP/USD came down strong last week and has since been consolidating around 1.24 and 1.2265 in an exhausted bullish push to end the week with a three white soldiers pattern indicating a continuation of the trend. I believe this is going to re-test (as always) the last break before the bearish drop last Tuesday from 1.24316, as it left the indicated supply zone.
I am keeping my eye on that zone (between 1.24316 and 1.2453, which is the .50 fib level). If we see an immediate pullback I will look for confirmations on a lower timeframe (LH, LLs). However, I expect this trend to continue to the next confluence of .618 fib level and 1.25 psychological level, more specifically 1.2491 - 1.2503 area.
For a more sniper entry, we will want to place sell orders around 1.2522 area IDEALLY, which is at the "top" of the supply zone and the resistance of the range before continuing to move bearish. This is where we will take our sell orders.
TP: 1.2260
SL: 1.2536
I am keeping my eye on that zone (between 1.24316 and 1.2453, which is the .50 fib level). If we see an immediate pullback I will look for confirmations on a lower timeframe (LH, LLs). However, I expect this trend to continue to the next confluence of .618 fib level and 1.25 psychological level, more specifically 1.2491 - 1.2503 area.
For a more sniper entry, we will want to place sell orders around 1.2522 area IDEALLY, which is at the "top" of the supply zone and the resistance of the range before continuing to move bearish. This is where we will take our sell orders.
TP: 1.2260
SL: 1.2536
Dagangan ditutup: hentian tercapai
Trade exceeded expected TP, traveled to daily demand zone and crashed and hit TP.
Penafian
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