GBPUSD Trading Analysis

@Colibritrader

Dear traders,

DAX that I wrote about last time, saw an increase in price.

I was waiting for a confirmation from the 4H chart and instead of 1, I received two candlestick patterns that confirmed the bullish picture.

There was a bullish engulfing candlestick pattern and then followed by a pin bar.

I am currently in a long position and am following closely the Daily and 4H price action.

GBPUSD Trading Analysis

On the other side, I have noticed an interesting candlestick pattern forming on the daily GBPUSD chart.

There is an inside day at a minor support level.

At the place in time it has formed, this pattern gives an indication for further gains.

I am getting more bullish here and will be waiting for the price to open and then possibly go long if the 4H chart confirms my view.

I would be extra careful with this pair, since there is a Brexit looming over the markets and this could be one of the most volatile instruments in the days/weeks to come.

Happy Sunday,

Colibri Trader

 

p.s.

Have you checked my not so recent article on Dealing with a Loss