GBPUSD Forecast: Positive Correlation On G.U, E.U, and A.U
Hey trader,
As you can see, the price is bullish running in the mini head and shoulders L1 and above the 50 MA, and bullish crossed short-term MAs.
The pattern expects a 2-level uptrend, and the MAs are looking forward to retesting the 200 MA (that's visible on the MT4 chart). This bias has been fully confirmed by the bullish break and retest of the Mini Weekly Neckline, 50 and 8 MAs made by yesterday's candle. We'll get the second confirmation once the price has bullishly broken and retested the 1st Daily Key Lvl. If that happens, we'll be on a swing trade.
But we might be kicked out of it. The price may dramatically bearish break, close, and retest the Mini Weekly Neckline together with the 50 and 8 MAs, before triggering the 2nd trade. Which this will result in a loss, but only if we took the trade.
Oww, about that, do not take the trades because this is not financial advice. I'm just sharing my point of view which you also can do in the comments section below. If you do take the trades and lose, do not blame me but yourself!
That's it for today. I hope you found value in this article. If you want to see trade ideas that relate to this one (i.e. E.U and A.U), check the linked articles below.
Trade Safe & Stay Blessed,
Sphatrades.
As you can see, the price is bullish running in the mini head and shoulders L1 and above the 50 MA, and bullish crossed short-term MAs.
The pattern expects a 2-level uptrend, and the MAs are looking forward to retesting the 200 MA (that's visible on the MT4 chart). This bias has been fully confirmed by the bullish break and retest of the Mini Weekly Neckline, 50 and 8 MAs made by yesterday's candle. We'll get the second confirmation once the price has bullishly broken and retested the 1st Daily Key Lvl. If that happens, we'll be on a swing trade.
But we might be kicked out of it. The price may dramatically bearish break, close, and retest the Mini Weekly Neckline together with the 50 and 8 MAs, before triggering the 2nd trade. Which this will result in a loss, but only if we took the trade.
Oww, about that, do not take the trades because this is not financial advice. I'm just sharing my point of view which you also can do in the comments section below. If you do take the trades and lose, do not blame me but yourself!
That's it for today. I hope you found value in this article. If you want to see trade ideas that relate to this one (i.e. E.U and A.U), check the linked articles below.
Trade Safe & Stay Blessed,
Sphatrades.
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