Analysis:
1. Price has broken up through the upper channel line with huge volume then retrace back to test the low. The price has been in a flag form correction for several days that finally broke out for about 500 pips. Price has been in consolidation that accumulates huge size. No wonder the break out was huge.
2. The bullish move was preceded by a stop hunt to the low (bear trap) to grab liquidity. Normally, such stop hunt preceding a bullish move lasted for several bars.
3. Price is sitting on the lower upsloping channel. Unless the price break down the channel line, the bias is bullish.
4. The initial bullish move was pushed by a huge volume, while the pullback was with lover volume (The volume spread analysis in lower time frame displays series of stopping volume at the latter bars of some swing lows). These were signs of the weak in bear and strength of bull move.
I will look for a bottom formation, reversal formation, then a pullback to test the low. I will look for a buy set up in the lower timeframe, 1 hour, 30 Minutes, and 15 Minutes.
If you would like to see the full analysis:
http://www.4xmagz.com/gbpnzd-possible-longtime-bullish-setup-600-pips-dec-18th-2019/
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My Apology, some persons were not agree if I teach these method to public. They have been throwing all the bad word to provoke the threads and blogs to be closed.
Therefore, the comments would be moderated