Long

Updated

GBPUSD Live Week 49 Swing Zones

Week 48 ended with 20pp, with price moving in fairly the predicted direction.
Week 49 Sz is as highlighted 210-160, price is currently trending below having failed to bounce off.
Will be looking @ calculated lower levels of 814 and 616, for bounce back up.
As always Price action determines trades.

Trade active

Entry on the 5 min bounce for level 814
SL -10pips

Trade closed: target reached

Entry 859 pinched 30pips
Sell entry SZ 188
SL -10pips
Aiming for 616

Note

Sell entry 188 pinching +50pips
Move SL to +30pips
Price breaking fast past support level 616.
Next support @319

Note

Sell entry 188 pinched +90pips
Price breaking past support 319, but trade closed.
2 trades: +30/+90 = 120pp
Will be looking for buy setups

Note

Buy entry 344 Support 319
SL -15pips

Note

Buy re-entry @ 203
SL -10pips

Note

Price pinching +20pips
Not much move expected today as market closes. Price should continue upward from tomorrow

Note

Price pinching +60pips
Move Sl +20pips
dtp @ 334, if price breaks will be looking for where momentum slows to exit

Note

Entry @ 203 closed @ 20pips
4 trades: +30/+90/-15/+20= 125pp
Buy reentry @ 386, currently pinching +80pips. SL @ +20pips

Note

Entry 386 pinching +100pips
Move SL to +80pips

Note

Trade closed for 100pips
5 trades: +30/+90/-15/+20/+100= 225pp
Nice follow to Week 49.
Have a restful weekend

PinchPips

Related publications

GBPUSD Live Week 48 Swing Zones

by PinchPips

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.