Looking to target 2012/13 Low. Using Moving averages that have crossed - Trade in @1.60415 SL @1.72150 and TP @1.47300
GBPUSD long term short trade may give good reward to risk. as long as it doesnt goes back into consolidation zone. if you havent entered yet wait for a pullback to enter short. because we have divergence in MACD
Since GBPUSD has broken Brexit Low i am looking for extensions to tell us where GBPUSD may head next. I'm looking for it to reject in the 1.26500, also in confluence with the half quarter, if it breaks that I'm looking for it to continue to 1.21 check screen shot below. please also be aware that price is currently at the 2.24 extension which is a minor extension...
The previous trade didn't go as planned, so why not another try! With higher lows and generally good Candlestructure the trade looks very promising, Ideal entry would have been 1.29 (still open bids). The Entry should be around the Blue Candle ( H: 1.30512, L: 1.28737) where it shows strong buy support The Final TP area is around 1,47499, but taking off up to...
1. Stopping volume: The previous bar is a down bar closing at the lows of the bar with high volume, what this means? possible selling, but, look how the next bar respons, high spread bar, closing at or near the highs with greater volume, so, if the previous bar was a weak bar, why the market didnt go down? The next bar is a up bar with not excesive volume, so, it...
1. Supply coming in: up bar wide spread with high-ultra high volume closing off the highs of the bar follow by a down bar that confirms this weakness (2). 3. No demand bar: up bar with average-wide spread closing off the highs with less volume than the previous 3 bars, this signal needs to be confirmed with a down bar. 4. Trap up move: down bar with super wide...
It seemas like we are going to break this point here , but i really dont be so confident to open a position now , lets wait for a first impulse to the upside FX:GBPUSD
with a .382 retracement of the sell of we could be seeing a high probability trade of a 1.27 extensions to regions of 1.300. taking first targets at monthly support then a trailing stop.