Major USD Pairs Discussion | Daily Market Breakdown

Still on the D1, this same Candlestick pattern (Bearish harami Pattern) formed January ending this year, and that was the beginning of the current bearish consolidation phase of GBPUSD.
Repeating it again as a 3rd touch of the bearish trendline can cause significant sells down to 1.3301 H-support levels, which I'll be anticipating next week.

We selling next week

Next week bah what your take on Gold

Pattern is really good way to no trend good analysis

Yeah. Thank you.

I'm watching out for long opportunities. Gold wants to buy, but the War is not letting it.

Invalidation of the bearish Channel will present good buy opportunities, since Gold has not broken the Support.

I hope it survive

Still on the D1, this same Candlestick pattern (Bearish harami Pattern) formed January ending this year, and that was the beginning of the current bearish consolidation phase of GBPUSD.
Repeating it again as a 3rd touch of the bearish trendline can cause significant sells down to 1.3301 H-support levels, which I'll be anticipating next week.

XAUUSD-Gold begins the week with reactions from the Bearish trendline.

On the 4hrs, there's a bullish channel price needs to invalidate before the sells will be fully confirmed. Once the 4hr dynamic support is invalidated, I'll expect the retest of it to drive price downwards to the 1.3301 price region to form the right shoulder of the Inverted head and shoulder pattern.

GBPUSD- I'll be looking for buys next week at the 1.3301 price level. But I'll also be ready for the Sells if it looks more promising than the buys.

Trading GBPUSD using the BARR Pattern Strategy on 1hr (1)

The BARR pattern (Bump And Run Reversal) is a powerful trend reversal chart pattern that often shows a transition from aggressive buying to exhaustion(profit-taking) and then a bearish reversal (in this case, the 1hr bullish trend on GBPUSD).

From the Charts we can see a Diverging Ascending Channel. This is often the classical footprint of the BARR Top pattern

Still on the D1, this same Candlestick pattern (Bearish harami Pattern) formed January ending this year, and that was the beginning of the current bearish consolidation phase of GBPUSD.
Repeating it again as a 3rd touch of the bearish trendline can cause significant sells down to 1.3301 H-support levels, which I'll be anticipating next week.

Trading GBPUSD using the BARR Strategy on 1hr (3c)

Phase 3- The Run

This is what makes the BARR Top strategy currently a potential, because I'm expecting the Run Phase to form Next week.

On GBPUSD chart, the Run phase has not yet formed, this is where I'll follow up on GBPUSD all through the week to give updates if the current pullback will result in the buy continuations, or it will signal a sell reversal.

Meanwhile The Run Phase on GBPUSD will look like this Gold chart where the Bump low and the dynamic support is invalidated.

Fun thought- Imagine you spotted The Classical BARR Top Pattern imprint on Gold during its Last All-time High drive, and catching those massive sells that followed, rather than joining the Euphoria of Late Buyers. Since the Last All-time Highs, Gold has been bearish since.

Trading GBPUSD using the BARR Pattern Strategy on 1hr (4- tbc(to be continued)

In Summary of our discussion;

The BARR pattern (Bump And Run Reversal) is a powerful trend reversal chart pattern that often shows a transition from aggressive buying or selling (expansion) to exhaustion(profit-taking) and then a bearish reversal (distribution) (in this case, the 1hr bullish trend on GBPUSD) or a bullish reversal (Accumulation).

It is of two types. The Bearish BARR Top and the Bullish BARR bottom. But the bearish BARR Top is the most popular version.

It has 3 phases. The Lead-In, The Bump, and the Run.

The Lead-in is the formation phase, The Bump is the distribution phase, and The Run is the bearish reversal phase.

The BARR pattern is confirmed to form when the dynamic support and the bump low has been invalidated, but in this case, I'll be trading the potential, that is joining the sells, on its way to take out (invalidate) the bump Low. That means I'm taking advantage of the Unconfirmed BARR Top pattern which can be otherwise called the Potential BARR Top pattern.

The Market Psychology behind the Bearish BARR Top is
Greed-Euphoria-Distribution-Breakdown-Bearish Trend. (as explained in the main body content)

The Market Psychology behind the bullish counterpart is Fear-Panic Selling-Accumulation-Breakout-Bullish Trend. (This Cycle will be fully Explained when the Bullish BARR Bottom is spotted).

More Updates to follow next week.

On the 4hrs, there's a bullish channel price needs to invalidate before the sells will be fully confirmed. Once the 4hr dynamic support is invalidated, I'll expect the retest of it to drive price downwards to the 1.3301 price region to form the right shoulder of the Inverted head and shoulder pattern.

AUDUSD- 1hr Trade Setup
Bias: Bullish
Market Structure: Rising Channel

A decent pullback down to 0.6937 price level (blue box) will offer me a good trade opportunity to go long on AUDUSD with my Sl at 0.6908 and my TP at 0.7028.

GBPUSD- I'll be looking for buys next week at the 1.3301 price level. But I'll also be ready for the Sells if it looks more promising than the buys.

AUDUSD- 1hr Trade Setup
Bias: Bullish
Market Structure: Rising Channel

A decent pullback down to 0.6937 price level (blue box) will offer me a good trade opportunity to go long on AUDUSD with my Sl at 0.6908 and my TP at 0.7028.

AUD strength now is based on USD weakness, that is why even EA is also selling