GBPUSD, The Impending Short

23 Mar 2023

We’re coming up towards the end of the final push, push 3. Looking back at the H4 timeframe, there is a Shark Pattern near completion. The D point of this Shark Pattern aligns with the long term resistance as well as a psychological whole number 1.24. There are other methods that also support the theory that price may reach the 1.24. The ab=cd pattern suggests price can continue to rally on towards the 1.24. Mentioned previously today, there was a 15min Shark Pattern which later came back to do a type 2 reversal that gives a trader a second entry to ride towards the 1.24. We may see a completion of the price objective by Wednesday next, until then sit on your hands and wait for price to do it’s thing.

Beaucoup Out.

1 Nis 2023

İşlem aktif

Target reached

14 Nis 2023

İşlem elle kapatılmış

LQP was used as support to continue with the rally.