GBPUSD Correction Trading Idea
1st Week Aug
Observed.
1. Price almost breaks 2020 High from 1 Jan 2020 . Prev swing low from 29 Jun 2020
2. Bullish movement with total of 204 pips upward(bullish) From Tuesday to Thursday.
3. Finish off by breaking Wednesday low.
Bearish (Correction)
1. Since price went higher by time, is hard to identify when can correction trade can be execute
2. Bearish price from Thursday and Friday can be use as main wave to trade correction, if only price deflect on the fibo drawn in this idea
3. Reversal point on Tuesday's high.
Target
1. To break/touch on prev swing high from 10 Jun 2020 (probably takes few weeks, if only price making correction)
2. Get at least 200 pips on bearish on second week of August.
*timezone used Singapore (UTC+8)
Observed.
1. Price almost breaks 2020 High from 1 Jan 2020 . Prev swing low from 29 Jun 2020
2. Bullish movement with total of 204 pips upward(bullish) From Tuesday to Thursday.
3. Finish off by breaking Wednesday low.
Bearish (Correction)
1. Since price went higher by time, is hard to identify when can correction trade can be execute
2. Bearish price from Thursday and Friday can be use as main wave to trade correction, if only price deflect on the fibo drawn in this idea
3. Reversal point on Tuesday's high.
Target
1. To break/touch on prev swing high from 10 Jun 2020 (probably takes few weeks, if only price making correction)
2. Get at least 200 pips on bearish on second week of August.
*timezone used Singapore (UTC+8)
to show my prev swing high & low. Have a good weekend :)