GBPUSD-Weekly Market Analysis-May22,Wk4

22 במאי 2022

Last week if you have gone through my analysis and engaged the market when it tested the buy zone(cyan box), you would have earned 159pips of profits in just the 1st target. If you have missed that setup, you can wait for the next opportunity.

The Bearish Shark Pattern on the 4-hourly chart gives trend traders an opportunity to engage the market. However, I do not like to see consolidation before the completion of any Harmonic Patterns.

I'm waiting for a shorting opportunity at 1.2582 on the Shark Pattern, more than ever a candlestick confirmation is required.