FULL TECHNICAL ANALYSIS: GBPUSD (M5)
1. Price Action Patterns
• Strong bullish breakout after long accumulation phase.
• A textbook liquidity sweep + bullish engulfing combo before rocket launch.
• Recently formed equal highs / liquidity pool at 1.34230 — ripe for manipulation.
2. Range-Bound Structure
• Market just broke out from a tight range (1.33880 – 1.34130).
• Now it’s testing the upper range / fib zone confluence around 1.34230 — potential reversal trap if liquidity hunted.
3. Trend Analysis
• Short-term trend flipped bullish after bounce from previous demand.
• Medium-term descending trendline just broken — but keep your eye out: if it fakes out and reverses below 1.34130, the downtrend resumes.
4. Volume Analysis (Implied from PA)
• Momentum candles on the breakout = high buyer aggression.
• Weak follow-through afterward = potential bull trap in motion.
5. Support & Resistance
• Support: 1.34065 (38.2%), 1.33940 (base of previous demand)
• Resistance: 1.34260 – 1.34300 (liquidity & fib confluence zone)
6. Momentum
• Momentum peaked, price is stalling near high — watch for divergence.
• RSI/Volume unseen but price action shows exhaustion.
7. Wave Analysis
• Impulse wave up completed, we may now be in a corrective A-B-C wave.
• Wave C might target 38.2% – 50% fib retracement before next decision zone.
8. Market Volatility
• High volatility spike on breakout — likely engineered for liquidity grab.
• Currently stabilizing — next move could be explosive if 1.34300 gets rejected.
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HYPOTHETICAL TRADE SETUP (FOR DAYTRADE)
🔻 ORDER TYPE:
Sell Limit @ 1.34260
🎯 Take Profit (TP):
1.33950
🛑 Stop Loss (SL):
1.34350
⚠️ Risk-to-Reward Ratio:
1:3 (Asymmetry, baby)
✅ Confidence Level:
80%
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JUSTIFICATION
• Price rejected from fib confluence zone + prior swing high.
• Low timeframe shows signs of exhaustion.
• Big bullish impulse done — pullback expected.
• This is smart money zone to sell into the liquidity.
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📌 This is a hypothetical idea for education — not financial advice. You make your own damn calls. Subscribe to my channel for more.
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