GBPUSD Weekly Summary and plan

2020-01-02 01:31:11

Weekly:
GBPUSD has been moving nicely inside the weekly triangle and went through previous weekly supply.
Price was rejected at the weekly level with a big red candle after, Having said that; momentum is suggesting another upside move which i expect will go to the triangle ling.

Daily:
Price broke the ascending "Triangle/Head and Shoulder" strongly and completed a 75% retracement pushing up, expecting it to go through the previous high pretty soon

4H:
Very strong upwards momentum with 3 Green candle and no retracement, I will wait for retracement and take a full position.
Or
If the price made a small retracement to the trend line, i will enter with a stop order above the high.

Plan:
I will only continue looking for long setups until seeing a confirmation that bulls are giving up and bears taking control.