GBPUSD
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β³4 Hour chart
π² Possible entry analysis
β³οΈ Possible bull/bear target
πEducational
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Detailed analysis π¬
1οΈβ£ Channel breakout-H4
2οΈβ£ Downward Channel breakout and retest
3οΈβ£ Minor channel above the major downtrend channel
4οΈβ£ 1.30000 key psychological resistance
5οΈβ£ Price below .236 Fibonacci retracement level
6οΈβ£ Short term upward pressure
7οΈβ£ Technical support - Bear
8οΈβ£ Price is around POC-VOLUME
9οΈβ£ October low-Immediate resistance
π Price movement within downtrend channel was expected
#οΈβ£ Overall bearish trend
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π Technical bias-H4-Bearish
Below 100,200 Exponential moving average
100,200 acting as immediate resistance
RSI- Around 35 - approaching oversold territory
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend
Ichimoku-cloud is turned red-Cloud resistance
Bollinger band- Price is around lower band-Minor rebound expected
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Key reversal area's
1.30000 Key psychological level
1.31800 October month high
1.29900 Minor channel turn level
1.26775 .382 Fibonacci level
1.24000 Key psychological level
1.24000 Lower channel trend line reversal zone
1.34780 Year 2020 High
1.28638 October month low
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Bearish entry #GBPUSD
Entry price - 1.29560
Take profit 01 - 1.28250 (125 pips)
Take profit 02 - 1.26780 (260 pips)
Take profit 03 - 1.24100 (540 pips)
π« Stop lose 1.30260 (70 pips)
β¬οΈ 4.28% Drop expected
β€΄οΈ Account growth 0.53 : 4.28
β Risk reward ratio 1 : 8
βββββ-βοΈββββββ-
Push the like button , And cheer up if you found useful
*********
β³4 Hour chart
π² Possible entry analysis
β³οΈ Possible bull/bear target
πEducational
βββββ-βοΈββββββ-
Detailed analysis π¬
1οΈβ£ Channel breakout-H4
2οΈβ£ Downward Channel breakout and retest
3οΈβ£ Minor channel above the major downtrend channel
4οΈβ£ 1.30000 key psychological resistance
5οΈβ£ Price below .236 Fibonacci retracement level
6οΈβ£ Short term upward pressure
7οΈβ£ Technical support - Bear
8οΈβ£ Price is around POC-VOLUME
9οΈβ£ October low-Immediate resistance
π Price movement within downtrend channel was expected
#οΈβ£ Overall bearish trend
βββββ-βοΈββββββ-
π Technical bias-H4-Bearish
Below 100,200 Exponential moving average
100,200 acting as immediate resistance
RSI- Around 35 - approaching oversold territory
MACD-Still below the middle line, Red zone territory
Stochastic - Reached 25 level about to cross-Short term bullish trend
Ichimoku-cloud is turned red-Cloud resistance
Bollinger band- Price is around lower band-Minor rebound expected
βββββ-β³οΈββββββ-
Key reversal area's
1.30000 Key psychological level
1.31800 October month high
1.29900 Minor channel turn level
1.26775 .382 Fibonacci level
1.24000 Key psychological level
1.24000 Lower channel trend line reversal zone
1.34780 Year 2020 High
1.28638 October month low
βββββ-β³οΈββββββ-
Bearish entry #GBPUSD
Entry price - 1.29560
Take profit 01 - 1.28250 (125 pips)
Take profit 02 - 1.26780 (260 pips)
Take profit 03 - 1.24100 (540 pips)
π« Stop lose 1.30260 (70 pips)
β¬οΈ 4.28% Drop expected
β€΄οΈ Account growth 0.53 : 4.28
β Risk reward ratio 1 : 8
βββββ-βοΈββββββ-
Push the like button , And cheer up if you found useful
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