GU Long opportunity
Following a strong daily close above the resistance level, a buy-side imbalance and sell-side inefficiency(FVG) have been observed on the 4 hour chart.
1. As long as the price holds above the flipped resistance-turned-support level, the likelihood of a breakout above the trendline increases.
2. A successful breakout could propel the price towards higher resistance levels, as marked on the chart.
PS:
- This analysis is for educational purposes only and should not be considered financial advice.
- Always apply good risk management practices to your trading decisions.
1. As long as the price holds above the flipped resistance-turned-support level, the likelihood of a breakout above the trendline increases.
2. A successful breakout could propel the price towards higher resistance levels, as marked on the chart.
PS:
- This analysis is for educational purposes only and should not be considered financial advice.
- Always apply good risk management practices to your trading decisions.
Note
GBPUSD Update:
New support area added to the chart.
Trade Plan: Awaiting the outcome of today's news event to look for buy opportunities.
Key Levels to Watch:
- New support area between $1.222 and 1.216
- Reaction to today's news event
Trade active
Note
I am Setting previous position to break even, securing risk-free trade and Looking to add another position to this setup, scaling into the trade.
Aiming to maximize potential gains while maintaining prudent risk management.
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.
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.