GBPUSD - Trade the "Double Breakout" - with mtfa
Updated
Hi Traders!
The market is moving sideways.
Let's begin the mtfa with the weekly:
Here you can see that the market is moving in a Range.
In addition we can see an ascending Trendline.
The Prices, in between the market is moving, are 1.25 and 1.34.
Continuing with the Daily:
The Trendline is bigger now.
We can recognize, that the market is now very close to the Trendline and it isn't bouncing back from it.
That means, that there is someone who is selling near the ascending Trendline --> Hidden Bearish Power.
A very important skill that many Traders aren't able to read.
We also marked up the Target Zone on this TF.
Here is the H4:
In this screenshot you can see the weekly Trendline and another Parallel Channel.
The idea is to trade the Breakout of both of them.
And here is the H1-Entry Timeframe:
This is just the same as above, but it is more zoomed in, so you can see the behavior of the market.
The Trigger is still far away, so we'll have a closer look as soon as it comes near to the Trigger.
We recommend to trade the market with a reasonable risk-to-reward ratio.
Thanks and successful Trading :)!
The market is moving sideways.
Let's begin the mtfa with the weekly:
Here you can see that the market is moving in a Range.
In addition we can see an ascending Trendline.
The Prices, in between the market is moving, are 1.25 and 1.34.
Continuing with the Daily:
The Trendline is bigger now.
We can recognize, that the market is now very close to the Trendline and it isn't bouncing back from it.
That means, that there is someone who is selling near the ascending Trendline --> Hidden Bearish Power.
A very important skill that many Traders aren't able to read.
We also marked up the Target Zone on this TF.
Here is the H4:
In this screenshot you can see the weekly Trendline and another Parallel Channel.
The idea is to trade the Breakout of both of them.
And here is the H1-Entry Timeframe:
This is just the same as above, but it is more zoomed in, so you can see the behavior of the market.
The Trigger is still far away, so we'll have a closer look as soon as it comes near to the Trigger.
We recommend to trade the market with a reasonable risk-to-reward ratio.
Thanks and successful Trading :)!
Note
Here is the RED BOX, but only in Big:Have a nice day :)!
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