Evening Traders,
Today’s second analysis – GBPUSD- flipping Structural S/R where a back test must hold for a bullish bias,
Points to consider,
- Bullish Price Action
- Structural S/R Support
- Local S/R Resistance
- Oscillators Bullish Control
- Volume Declining
GBPUSD’s immediate price action is bullish breaking Structural S/R, a confirmed S/R Flip retest will allow us to have a bullish bias.
The Structural S/R is current support, breaking this level will negate our bullish bias on the market.
Local S/R is immediate support that is likely to be respected upon first test.
Both oscillators are trading in corresponding bullish control zones, price is likely to rise further before officially entering overbought conditions.
Current volume profile is below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, GBPUSD is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
Today’s second analysis – GBPUSD- flipping Structural S/R where a back test must hold for a bullish bias,
Points to consider,
- Bullish Price Action
- Structural S/R Support
- Local S/R Resistance
- Oscillators Bullish Control
- Volume Declining
GBPUSD’s immediate price action is bullish breaking Structural S/R, a confirmed S/R Flip retest will allow us to have a bullish bias.
The Structural S/R is current support, breaking this level will negate our bullish bias on the market.
Local S/R is immediate support that is likely to be respected upon first test.
Both oscillators are trading in corresponding bullish control zones, price is likely to rise further before officially entering overbought conditions.
Current volume profile is below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, GBPUSD is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
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Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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— Team The Alchemist ⚔️
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.