The market just gave us a textbook setup on GBP/USD!
🔍 Analysis Overview:
A clear bearish divergence has formed between price and the AO (Awesome Oscillator), signaling potential trend exhaustion at the top.
We saw a rising wedge break to the downside, with a structure breakout confirming a shift in momentum.
Price decisively broke below the 1.36109 support level, indicating bearish control.
📊 Technical Confluence:
AO shows bearish divergence, confirming weakening bullish momentum.
Structure breakout from the wedge pattern aligns with AO signals.
Fibonacci retracement and extension levels give a clear target zone:
🎯 TP1 area: 1.35805 – 1.35895 (Fib 1.618–1.786 extensions)
⏳ What I'm Watching:
I'm now waiting for a pullback to retest the broken structure (possibly around the 0.382–0.618 Fib levels: 1.36242–1.36323). A bearish reaction here could provide a high-probability reentry opportunity.
💡Trade Idea Summary:
Bias: Bearish
Signal: Divergence + Structure Break
TP Zone: 1.35805 – 1.35895
Watch for: Pullback to retest broken structure before continuation
📈 Stay alert and manage your risk wisely!
🔍 Analysis Overview:
A clear bearish divergence has formed between price and the AO (Awesome Oscillator), signaling potential trend exhaustion at the top.
We saw a rising wedge break to the downside, with a structure breakout confirming a shift in momentum.
Price decisively broke below the 1.36109 support level, indicating bearish control.
📊 Technical Confluence:
AO shows bearish divergence, confirming weakening bullish momentum.
Structure breakout from the wedge pattern aligns with AO signals.
Fibonacci retracement and extension levels give a clear target zone:
🎯 TP1 area: 1.35805 – 1.35895 (Fib 1.618–1.786 extensions)
⏳ What I'm Watching:
I'm now waiting for a pullback to retest the broken structure (possibly around the 0.382–0.618 Fib levels: 1.36242–1.36323). A bearish reaction here could provide a high-probability reentry opportunity.
💡Trade Idea Summary:
Bias: Bearish
Signal: Divergence + Structure Break
TP Zone: 1.35805 – 1.35895
Watch for: Pullback to retest broken structure before continuation
📈 Stay alert and manage your risk wisely!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.