GbpUsd from 1.3170 as Resistance Level
30/12/2019 GbpUsd Rate from 1.3170 as Resistance Level
Current Support Level is at 1.2903
A Retrace to Higher Pricing is allocated at 1.3170
Now at Current Price 1.3149
Which is now considered as A Sufficient Move Higher
against the Current Price Range which consists of an h1 bar retrace At 39% percent bar Higher on the h1 chart.
Expected Outcome - Is that the Rate will Move Lower from 1.3149
And into my Target Level at 1.2525
Which is at 61% percent bar on the Daily Chart or Daily Range Lower.
Downtrend Mode - from 1.3149
Current Support Level is at 1.2903
A Retrace to Higher Pricing is allocated at 1.3170
Now at Current Price 1.3149
Which is now considered as A Sufficient Move Higher
against the Current Price Range which consists of an h1 bar retrace At 39% percent bar Higher on the h1 chart.
Expected Outcome - Is that the Rate will Move Lower from 1.3149
And into my Target Level at 1.2525
Which is at 61% percent bar on the Daily Chart or Daily Range Lower.
Downtrend Mode - from 1.3149
Trade active
6/01/2020 Mid-Evening – GbpUsd Rate - Trade still Active from 1.3218 High & Resistance Level. the Trend just pulling a little higher than expected on this occasion from the 39% percent bar high target nominated at 1.3170
1st & Nearest Resistance Level – become 1.3283
This outcome has been modified and added to my bookkeeping records as so on further occurrence – the trend Can be applied at A better rate of exchange.
Current Spot Price 1.3132
2nd Resistance Level exists at 1.3173 now at 1.3209
From 1.3952 Support Level Low.
So, the Rate is considered at A Continuation Downtrend Phase towards Lower Low & this is the outcome Expected within the Current Trend -
Target Level Low remain & is allocated at 1.2525
Downtrend Mode
Note
Important Notes : Can you see how trading ideas or trading to rules - Come`s into play as the charts extend more and more relevant data which is needed in order - So we can qualify the charted picture to outcome
Or drawing in the bigger picture then ? So much more quickly & clearly whilst the trends are establishing themselves.
Note
13/01/2020 GbpUsd Rate 2nd Resistance Level exists at 1.3173 now at 1.3209more resistance applies at 1.2902 -
Before continuation low at 1.2525
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.