Preparing for long for FOREXCOM:GBPUSD by Big_Player — TradingView


The Daily candle closed bullish but with a long wick. And that is a pattern that has been repeating itself in the market, we ever we see that pattern, we need to expect the following candle to fill in at lest the wick of the previous candle. Coming back on the 4H time frame, we see that price or the market is consolidating ( Descending channel ). When ever we see this, we need to expect a breakout to the upside before entering the market. And also according to the last COT report, institutions a longing the GBP, and on the SPOT longing GBPUSD . All of this are in perfect confluence with our analysis. SO the best wAY TO tacle this situation is to wait for a breakout and then wait for a clear retest, and then the trade to the upside. This is give us a good probability and a good risk reward



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