GBPUSD Anti-bullishutterfly on H4
Hey! Glad that I am back on forex lol, I was busy to trade Oil future tho cuz it just so damn straight forward downtrend.
Anyway, I found out post UK election price consolidating for a long time and finally make a crazy move to the downside towards to Bat extreme 2.618 and wicked that level for a few days, retraced back to TP 1.
As being said, the TP 1 is running some trouble to reach 2nd one. funny thing happening is that a perfect Bat pattern on H4 reacted pretty wel 2 weeks before and here comes to the selloff last week, but it could not break the recent trendline which now has been tested the 3rd time.
Moreover, yesterday's bullish cypher got confirmed and pushed so fast to wick the TP 1, So if the price rejected at the recent high again with some potential harmonic pattern, it is pretty safe to sell over there, since consolidation period will usually create a lot of harmonics and if the price broke the trendline and Quarter point, It is very likely to test the bullish butterfly D point.
On the economic stand point, we have some deal making process from UK with EU on Next week til June, so that kinda stuff will served as a catalyst for the further move.
Anyway, I found out post UK election price consolidating for a long time and finally make a crazy move to the downside towards to Bat extreme 2.618 and wicked that level for a few days, retraced back to TP 1.
As being said, the TP 1 is running some trouble to reach 2nd one. funny thing happening is that a perfect Bat pattern on H4 reacted pretty wel 2 weeks before and here comes to the selloff last week, but it could not break the recent trendline which now has been tested the 3rd time.
Moreover, yesterday's bullish cypher got confirmed and pushed so fast to wick the TP 1, So if the price rejected at the recent high again with some potential harmonic pattern, it is pretty safe to sell over there, since consolidation period will usually create a lot of harmonics and if the price broke the trendline and Quarter point, It is very likely to test the bullish butterfly D point.
On the economic stand point, we have some deal making process from UK with EU on Next week til June, so that kinda stuff will served as a catalyst for the further move.
Feragatname
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