This is Colibri Trader, (a.k.a. Atanas).
This is where we take the best trading ingredients from the day to make a fresh new treat for you every week.
Last week I walked you through DAX.
Price did go higher as expected, but the micro supply zone did not hold.
We saw a very bullish breakout, which negated our trading scenario.
Currently, the price still looks bullish, until proven wrong.
In other words, we could see a bearish signal, but it is still not there.
Therefore, I am staying on the sidelines.
GBPUSD trading analysis 30.05.2022
Have you seen the pound?
It sold off from the heights and now is down almost 15% from last August’s highs.
What’s great about it is that it did a typical supply zone retracements, which looks like that:
This is exactly how price looks right now on the GBPUSD chart.
- There is a micro supply zone retracement
- Price printed a pin bar-looking candlestick
What I will be looking for next is a confirmation from the 4H chart.
This might get extended over the next couple of days, but for now all of my attention will be directed towards this currency pair.
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