Facts :
- GBPUSD has been in a nice uptrend for the last ~30 days, on the daily chart it's currently finding support on the trendline.
- Price has been forming higher high and lower low since yesterday.
- Market seems exhausted which seems confirmed by the stochastic
Expectations :
- Price about to retrace toward this "daily trendline" not further than the support area.
- Price will find support on the trendline
- Price will shoot back up and form a Higher high
Entry :
- Looking for an entry on the swing low not sure where exactly right now, TBC.
Exits :
- will depend on my entry, I will update this idea once I have a clearer view of what's gonna happen.
- GBPUSD has been in a nice uptrend for the last ~30 days, on the daily chart it's currently finding support on the trendline.
- Price has been forming higher high and lower low since yesterday.
- Market seems exhausted which seems confirmed by the stochastic
Expectations :
- Price about to retrace toward this "daily trendline" not further than the support area.
- Price will find support on the trendline
- Price will shoot back up and form a Higher high
Entry :
- Looking for an entry on the swing low not sure where exactly right now, TBC.
Exits :
- will depend on my entry, I will update this idea once I have a clearer view of what's gonna happen.
Trade active
trade placed manually after seeing Retail Sales m/m resultsNote
bought at 1.32350Trade closed: stop reached
Wasn't feeling confortable with this trade, decided to move my stop loss to break even. it was hit a couple hours after that
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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.