GBP USD - Swing / Fan trading
Updated
I am liking the structure of this pair recently, also having changed my trading strategy to reflect proper chart analysis.
When focused on the bear trend we saw price respecting the support and resistance trend lines.
Now drawing support and resistance on what I envisage to be a bull run we can see structure respecting this also.
Therefore a quick sell trade on currently @ 1.20100 with SL @ 1.20500 and TP @ 1.19500; from this lower level a buy will be executed following the structure shown on my chart.
I feel confident enough that this will work and am hoping this new analysis will assist me moving forward.
Happy trader, Happy trading.
RR
When focused on the bear trend we saw price respecting the support and resistance trend lines.
Now drawing support and resistance on what I envisage to be a bull run we can see structure respecting this also.
Therefore a quick sell trade on currently @ 1.20100 with SL @ 1.20500 and TP @ 1.19500; from this lower level a buy will be executed following the structure shown on my chart.
I feel confident enough that this will work and am hoping this new analysis will assist me moving forward.
Happy trader, Happy trading.
RR
Note
Trade working perfectly for me:Short position - closed in profit manually.
Buy position taken last night to catch re test of resistance zone of 1.20261 - closed in profit this morning.
All in all a good few days
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