GBP/USD may be on minor pull back

2020年6月8日

1. Price consolidate near resistance level, after last touch with resistance line, price head down for correction

2. Price immediately react to this zone and reversed quickly, but bears power still around so price pushed down a little back to the trendline, this is a good entry as well, but hard to spot at the time.

3. Price hit resistance area once again and squeezed, bears were aggressive, and bulls were defensive at this area, and finally bull broke out, and head higher, this is a good entry as well, not too hard to spot but definitely not obvious at the time.

4. We at the current stage and the present moment, I spot price squeezed to the resistance zone/ resistance line, bounced back and look like we have a double top right there. Bulls are aggressive now, and bears are defensive. With major resistance zone (H4), price likely to be push back to support zone + trendline support area.

I am looking forward to see what market will be tomorrow.

2020年6月8日

註釋

As expected market pull back and reverse at support zone. I missed this opportunity to enter the trade

2020年6月8日

註釋

Price currently at 2 support zone, M15 and H1. Unsure what will price likely to do next.