GBP/USD Technical Analysis
- Bullish Trap trade
- The way to 1.2220 is now open
- Retest of MEGATREND and Camarilla MH4
- 1.2058 Intraday target
MEGATREND MAs: Bullish
D1 Chart GBP/USD
- Previous high
- Low
- Bullish trap pattern & entry
- Target zone
- TP
The GBP/USD has made 204 pips of the ATR for the last 14 days. It means it’s a very volatile market. At this point the MEGATREND MAs are crossing up with a strong pattern and bulls are in control. Yesterday washout was good to sell the GBP/USD but today we can see that the move is a good trap for bears. Bullish trap trade is in progress and this is my 8 consecutive GBP/USD in profit.
The 1.1890 zone is the zone where the trap trade happened. Market has also been rejected from the MAs and the MH4 zone, The ATR daily target points to 1.2058 but the doors toward the 1.2200 zone are open. Buying the rallies is the option as the MEGATREND MA angle is sharp and pointing up. The jaws are open.
This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system and a trading course. I am currently running 1 long position in the GBP/USD as I am trading the Bullish trap pattern ™. My Telegram group recently received 1 long signal on GBP/USD. The trade is a part of a daily time frame which is clear and concise.
Cheers and safe trading,
Nenad
Summary of October trading results is HERE (click to see)
Cheers and safe trading,
Nenad
