GBPUSD - Pullback before Trend Change
*** Trade at your own risk! ***
*** Not every idea is also traded by us ***
Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and and a few bullet points.
Monthly TF:
- Monthly Consolidation
- Market bounces between those three Levels: 1.23, 1.32 and 1.42
Weekly TF:
- Lastly, after the price reached the top monthly Level, it bounced back from the middle monthly Level.
- Now it is at the weekly Resistance
- Broke out of the descending TL --> bullish power
Daily TF:
- On daily TF, we have a Downtrend with LHs and LLs
- Recently, the price made LH and starts fall
- The discount entry for bulls and the TP of bears is probably at the orange Area of Support
This Down-movement is very likely to happen in our view.
- After that, we have two possibilities:
1) The market moves up again and breaks its LH. It makes a HH and the Downtrend would be broken.
2) The market falls down lower and makes a new LL. The Downtrend would be continued then.
- But those possibilities come afterwards
H4-TF:
- As mentioned on the daily section, a down-movement is likely in our view
- The ascending H4-Trendline is one barrier, which could make it a bit difficult to move lower
H1-TF:
- On the hourly TF we see, that the Up-Trend has changed:
- We had HHs and HLs, but now we can recognize a LH and a LL
- Equally, the Break of Support could mean SLs for buyers and that's why they'll stop buying more potentially
- Also the MACD indicator shows us strong bearish Momentum
If you have any questions, another Point Of View or anything else, don't hesitate to share them!
Thanks and successful Trading!
*** Not every idea is also traded by us ***
Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and and a few bullet points.
Monthly TF:
- Monthly Consolidation
- Market bounces between those three Levels: 1.23, 1.32 and 1.42
Weekly TF:
- Lastly, after the price reached the top monthly Level, it bounced back from the middle monthly Level.
- Now it is at the weekly Resistance
- Broke out of the descending TL --> bullish power
Daily TF:
- On daily TF, we have a Downtrend with LHs and LLs
- Recently, the price made LH and starts fall
- The discount entry for bulls and the TP of bears is probably at the orange Area of Support
This Down-movement is very likely to happen in our view.
- After that, we have two possibilities:
1) The market moves up again and breaks its LH. It makes a HH and the Downtrend would be broken.
2) The market falls down lower and makes a new LL. The Downtrend would be continued then.
- But those possibilities come afterwards
H4-TF:
- As mentioned on the daily section, a down-movement is likely in our view
- The ascending H4-Trendline is one barrier, which could make it a bit difficult to move lower
H1-TF:
- On the hourly TF we see, that the Up-Trend has changed:
- We had HHs and HLs, but now we can recognize a LH and a LL
- Equally, the Break of Support could mean SLs for buyers and that's why they'll stop buying more potentially
- Also the MACD indicator shows us strong bearish Momentum
If you have any questions, another Point Of View or anything else, don't hesitate to share them!
Thanks and successful Trading!
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.