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Gbplong

LOOKING AT BUYING GU IN THE AREAS 1.35700-1.35900 quick overview: Looking at gbp/usd we have seen that we have been in a long term up trend but we have kind of stalled out around the 1.37400 region we can see that on 4hr we have stalled at this region but I'm not convinced that this is the top I don't see how gu will drop off that much we have been going up steadily with pullbacks I expect another pullback maybe to the wick fill on 4hr or we could see a deeper pullback but my first entries would be in the buy zone area There is loads of orders in our green area I have put in this green area for you you look at price action we have loads of orders in this zone I don't think this zone will hold we have a imbalance below which hasn't been covered I think we can see price come into my buy area zone and take out all buyers and get a better price to buy it back from. BUY AREA 1.35700-1.35900 STOP LOSS : (15 PIPS) TAKE PROFIT:(180-200 PIPS) RISK TO REWARD 1:16 (NO LIMIT ORDERS I WILL BE WAITING FOR PRICE TO ENTER INTO MY BUY ZONE) REASONS FOR BUYING GU LOWER G1/G2 NO PREVIOUS STRUCTURE BROKEN (TAKE OUT REATIL TRADERS) 70% -78% If we see a break below our buy zone this trade will be invalid
Long
by Carlos44
2
GBP/USD LOOKING AT BUYS ON GU FROM 1.35900-1.36000Looking at buying gu from a better price from the area 1.35900-1.36000 current trend - bullish - we can see gu has been making higher highs but now we are stuck in some sort of wedge we have stopped making higher highs but also we have kinda stalled at the 1.37 level looks like this is a very good level of resistance as it has held up more than once.It has been held up around 3 times over the course of the month this looks to me like it won't hold much longer and will break above this level and fill the imbalance at 1.377 and then all the way up to the 1.42 region this lines up with the 5th wave on my Elliot wave looking at 4hr structure everything suggest to me that GBP/USD will continue its uptrend and break out at some point for this reason I will only be looking for buys its very bullish no point trying to sell But for now we can look for buys up to the upper G1 or even back to the 1.37 zone from a better price. conflunces for gu buys 1. Higher highs on long term and short term time frame 2. S1Vintraday 20/01/21 3. LOWER G1 4. Also lines up with intraday fib 50% 5. Bullish trend line 6. 1hr candle imbalance 7. usd bearish long term confluences for target 1. upper G1 2. INTRADAY R2 3. -0.50% BUY LIMIT - 1.35900 STOP LOSS - 1.35750 TAKE PROFIT -1.36900 RISK TO REWARD 1:7 overall verdict ; Looking at price right now we can go straight to my target but lets wait and see how price plays out hopefully come to my buy zone looks like we could see a very nice move from this region . BULLISH= Looking for a little pullback before entering a buy Look out for bullish reversal candle in my buy zone then you can enter or just set a limit order if you see strong bearish price action around this area do not enter (DO NOT ENTER THIS TRADE IF WE BREAK BELOW OUR STOP LOSS THIS TRADE WILL BE INVALID IF WE BREAK BELOW 1.35750)
Long
by Carlos44