Gbpcad short term long to retest previous highs
Updated
Watch for a clear breakout to retest previous high.
Price needs a deeper correction on higher time frame before another consideration to the downside. Keep in mind, the higher time frame is still bearish, so keep the long positions short term would be a fair play.
Price needs a deeper correction on higher time frame before another consideration to the downside. Keep in mind, the higher time frame is still bearish, so keep the long positions short term would be a fair play.
Trade closed: stop reached
Spread took the trade off lower than break even. So went out at a loss.Still a good trade but not a winning one.
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Reversed, still trading within this wedge. A break out and hold is a possible short term long trade up
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Multiple hidden divergence on the weekly
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Hidden divergence and divergence on Daily
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As mentioned, a break and hold will be seeing a short term long. If ur in long keep holding until next structure levels, major TL and EMA200 as levels to break for a higher continuation.
My longer term bias is still down, so this move is a deeper over dued correction.
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2nd attempt working out better.
I think this will go to 1.758 so left 1 position open and took profit.
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Very slow and choppy week across all pairs but Friday broke outWill be out at 1.758
Trade closed: target reached
Out at 1.758
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