POUND_DOLLAR SCENARIO ANALYSIS| TRADING PLAN
Updated
BIG picture
GBP_USD IS APPROACHING HORIZONTAL LEVEL WITH MOMENTUM FOR POTENTIAL BREAKOUT|
(1) There is a good chance of pullback short, as the level is strong. Watch price action closely.
Remember, there is a diagonal support, where the pullback is likely to stop.
(2) If no short opportunity presents itself, watch the breakout.
(the breakout might happen without pullback downwards if the bullish momentum is strong enough.)
(3) IF a confirmed breakout happens>>> good long opportunity on retest of horizontal level.
(4) Ultimate upward movement target is the diagonal resistance. From there, a strong pullback is anticipated!
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Comment
Pullback trade worked out nicely!
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