GBPUSD - POTENTIAL LONG AND SHORT SETUP FOR NEXT WEEK!
We can already see price testing support area @ 1.29285, as the markets closes for the weekend. What we could see during the opening of the London market session is either price re-testing the support area, so the big boys can stop hunt those who are holding their sell positions over the weekend, then a complete bullish movement. Or for price to continue on the uptrend to resistance level 1.29699.
We see resistance area at 1.29699 previously tested. Only Short @ 1.29699 when the London session opens which is at 8am. However, from 7:30am check to see if a strong bearish candle opens, which will be an indication to short, BUT Place the trade at 8am. Unless you are very confident, you can enter early from 7:45am. TP 1 @ 1.29285. Please note only enter this trade when price fails to breakthrough 1.29699. This could either be on Monday or Tuesday! MY TIME FRAME I SWITCH BETWEEN 15 MINUTES & 1 HOUR.
We see resistance area at 1.29699 previously tested. Only Short @ 1.29699 when the London session opens which is at 8am. However, from 7:30am check to see if a strong bearish candle opens, which will be an indication to short, BUT Place the trade at 8am. Unless you are very confident, you can enter early from 7:45am. TP 1 @ 1.29285. Please note only enter this trade when price fails to breakthrough 1.29699. This could either be on Monday or Tuesday! MY TIME FRAME I SWITCH BETWEEN 15 MINUTES & 1 HOUR.
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.