Pound Madness

The pound has offered some great moves over the past week and I'm going to share some of the analysis with you here.

The levels will be different to what I have posted recently in that they are smaller timeframes. Mainly H1 and below.

Price is fractal in nature as I have mentioned numerous times in the past, so whatever happens on one timeframe happens on another. The same patterns and price action.

 

What I'm going to share is pretty the same as I have been showing before but on lower timeframes.

GBPJPY

Short from supply after price tested SR.

Exit then long from demand with a 15m descending channel break and retest.

 

Exit the long then short from supply

 

GBPUSD

Possible short if support tests and fails.

Short it is...

Exit then long after a double bottom pattern and 5m break and retest of resistance.

Exit at supply then short. Had to wait until price tested support, failed to rally then broke down on the 5m chart.

Then the drop:

These are just some of them. There was more on GC and GN.

 

I hope you found this useful.

 

Do you prefer long term trading or shorter term like the above?

 

Drop me a message here with your answers.