December 2022: Selling GBPUSD Pt. 2

Hello everyone, the sells have begun. Following my previous analysis, We've been anticipating sells for the rest of the week, with indicated targets at 1.1739/1.1738. The areas I have marked on the chart: 1.24251, 1.24042, 1.23552 are possible areas of pullback with this sell impulse. It is best to wait for price to pullback into areas and wait for consolidation before entering an order.

As always trade cautiously. Happy Profits.

Handel aktiv

Handel aktiv:

1.24042 is about 50% fib of the current move and looking more likely for a consolidation to add another sell position.

Handel aktiv:

My first confirmation has to be a 1h BOS lower. If we get a 38.2 pullback, and 1h bos, it is possible price might pullback to take liquidity before continuing lower.

Handel aktiv:

monitoring the 1min chart: If price pulls back now, I would be looking for consolidation between the 1.24001 and the 1.23939

Kommentera:

1h BOS confirmed.

Trade stängt manuellt:

stopped out at BE

Kommentera:

Price action seems to be resisting a sell this week. That recovery broke 1.24452 broke a likely impulse downwards. There is going to be a lot of volatility at 12pm and 1pm

Kommentera:

Good, Price has broken the low now.

Handel aktiv

Handel aktiv:

I am currently having a short buy on GBPUSD inside this sell setup.