GBPUSD - Price Action Analysis --> Counter Trend Trading
Hi Traders!
The market is in a longterm Uptrend.
To get an overview of the current situation, take a look to this chart:
This is the Daily Timeframe.
As you can see there is an uptrending market.
An ascending Trendline is supporting the Trend and this is also viewable on the weekly timeframe.
We should take into consideration, that the market is at strong Resistance now and simultaneously in a Parallel Channel.
Moving on to the H4-Timeframe:
Here you can see a comparison of the three Up-Movements.
This is a part of the Price Action Analysis.
As you can see the Movements are getting weaker.
In conclusion of that we expect a Down-Movement in the next candles.
We recommend to trade the Breakout of the Trend towards the Parallel Channel.
Thanks and successful Trading :)!
The market is in a longterm Uptrend.
To get an overview of the current situation, take a look to this chart:
This is the Daily Timeframe.
As you can see there is an uptrending market.
An ascending Trendline is supporting the Trend and this is also viewable on the weekly timeframe.
We should take into consideration, that the market is at strong Resistance now and simultaneously in a Parallel Channel.
Moving on to the H4-Timeframe:
Here you can see a comparison of the three Up-Movements.
This is a part of the Price Action Analysis.
As you can see the Movements are getting weaker.
In conclusion of that we expect a Down-Movement in the next candles.
We recommend to trade the Breakout of the Trend towards the Parallel Channel.
Thanks and successful Trading :)!