GBPUSD Swing Analysis 17-10-2024
Following the previous weekly analysis:
*I was expecting the internal HL in premium area to hold the price and potentially see a bounce and a resumption of a bullish trend.
*Price failed to provide us with a MSS on 4H chart, which lead to price breaking below our strong HL.
1.We now expect price to continue with the counter trend *Pull back phase* until we reach discount prices.
2. On LTF price should be forming LL-LH and we recently had a BOS. I would expect price to pull back within that range of the last LH-LL to provide me with a LH entry for shorts
*I was expecting the internal HL in premium area to hold the price and potentially see a bounce and a resumption of a bullish trend.
*Price failed to provide us with a MSS on 4H chart, which lead to price breaking below our strong HL.
1.We now expect price to continue with the counter trend *Pull back phase* until we reach discount prices.
2. On LTF price should be forming LL-LH and we recently had a BOS. I would expect price to pull back within that range of the last LH-LL to provide me with a LH entry for shorts
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