Conquered 250 Pips, What's Next in the Wave? Swingers!
Updated
Let's keep it simple, As Always!
As of today, GBP/USD has delivered a solid 250-pip move following our analysis shared on October 9th, 2024. Our forecasted move materialized as expected, with the pair continuing its upward momentum after a brief consolidation phase. For those who took the trade, congratulations on securing some solid profits!
Now, the question on everyone's mind is, what's next for GBP/USD? Let’s break down the structure and identify the potential move within the wave.
Keep an eye on price action around these levels for the next wave. A pullback to 1.2300 could offer an entry for the next rally. Stay cautious and wait for confirmation before jumping in.
Let's see how the market unfolds over the coming sessions.
-Zak
Happy Trading! 🔥
As of today, GBP/USD has delivered a solid 250-pip move following our analysis shared on October 9th, 2024. Our forecasted move materialized as expected, with the pair continuing its upward momentum after a brief consolidation phase. For those who took the trade, congratulations on securing some solid profits!
Now, the question on everyone's mind is, what's next for GBP/USD? Let’s break down the structure and identify the potential move within the wave.
Keep an eye on price action around these levels for the next wave. A pullback to 1.2300 could offer an entry for the next rally. Stay cautious and wait for confirmation before jumping in.
Let's see how the market unfolds over the coming sessions.
-Zak
Happy Trading! 🔥
Trade active
Current Positions:
1. Swing Short: An ongoing short position on GBPUSD entered on November 12th. This position may be closed if there's strong upward movement in the pair, otherwise, it will be held.
> Ongoing +187.2 pips
2. Buy: A recent buy position on GBPUSD entered on November 18th.
> Ongoing +30.6 pips
3.Intraday Buy & Sell Stops: Two stop orders were issued at the community group today on GBPUSD, one for a buy and one for a sell. These orders are designed to capitalize on short-term price movements.
Overall, the current strategy involves a mix of swing trading and intraday trading on GBPUSD.
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