SwingingPrime的OANDA:GBPUSD的GBPUSD Bullish Setup Jan. Week 2, 2023

GBPUSD Bullish Setup Jan. Week 2, 2023

The long anticipated bearish retracement came through. Price met my bearish target from previous analysis (see referenced ideas) at 1.1881 and broke structure on the H4.
For this coming week, following price action I would be anticipating a retest of the discounted zones at 1.1936 before a bullish run to 1.2298.
My idea for potential price behaviour using the path I drew is just taking advantage of the demand and supply zones between targets. Price action can change.
As always, trade cautiously.

交易進行

1h is still very much bullish. I am buying for now

交易進行

After this, I would wait to see if there is a 15min BOS lower.

手動結束交易

Price closed me out at BE

交易進行

I entered a sell position

交易進行

A bit of consolidation there. Would move SL to BE soon.

註釋

My outlook for this morning

註釋

Ha, seems I overlooked the trend. I would be looking for a 5mins break of structure for entry.

交易進行

I took an entry, but I am still waiting of the 5min BOS

交易進行

It's possible price might take out liquidity before the next bullish move.

交易進行

Price did not pan out like anticipated. I am currently sell to the break of low

交易結束：目標達成

Yea...this is starting to look like a reversal. Would be looking for buying opportunities in NY session.

註釋

wow, no buy opportunity.

交易進行

I bought.

取消訂單

Price hit BE

註釋

I can see a 5mins structure. If we can get another BOS Lower, that would be confirmation to sell

交易進行

Last trade of the day.

手動結束交易

So choppy, I have closed my trading for the day.

註釋

Following my earlier analysis and identification of the Head and Shoulder reversal pattern (scroll up), I can see price forming a distribution schematic. Target is at around 1.1923. I would like to see a 15min BOS for a sell entry.

交易進行

I took a sell position, however, I am now watching for a 15mins BOS.

交易進行

I think there might be a pullback for more bearish action.

註釋

blast I missed that move. with this expansion, we might still get liquidity taken out

註釋

hmmm, I would be looking for a pullback here

交易進行

Nice! Took the entry.

交易進行

As NY session begins, I would be expecting this sort of Price action:

註釋

交易進行

I took this entry.

註釋

We still need a 5min BOS.

交易進行

Good 5mins BOS. The

交易進行

No more new positions for the day, would just monitor this one. See you tomorrow.

註釋

Good morning...I am afraid we might not see the sells we've been anticipating. Currently Price action is looking to break highs. This is what I am expecting with current price action:

註釋

Before I discard the sell idea, I can see that price did not give the 15mins confirmation structure. If we can have a 15mins distribution without breaking the LH, I would be interested in selling.

註釋

For now, all sell ideas are suspended. I would be anticipating this price action.

註釋

hmmm..

交易進行

First position of the day.

交易進行

I closed the previous entry at loss because because price was looking bearish and had violated a serious low. And then, I re-entered the buy, because price did not break the low. This is the life of a precision trader. You dont play with your stops when price invalidates a setup. it is better to bear a small loss, than a huge drawdown which might also turn out to be a loss.

手動結束交易

Closed the trade at BE.

註釋

I would be looking for a 15mins retest, before the next bullish run.

交易進行

I took a sell entry.

註釋

Price has broken multiple lows, If are going to see more sells, I would be looking for distribution around the nearest daily resistance (38.2%), else I would be looking for a bounce for 15mins BOS to move higher.