Gbpusdbuy
GBPUSD LOOKING GOOD FOR BUYERS We have seen this pair show some great bearish momentum. We can see price reached some support and moved bullish creating what we refer to in classical technical terms as an inverse head and shoulders pattern. Price pulled back 50% where i have plotted the grey line and from here we may see a continuation of the bullish move.
Grey line - entry
Red line - stop loss
Green line - Take profit
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GBPUSD Consolidation: Look for BUYS at SupportGBPUSD is consolidating which indicates we can see some rebound in prices near term. However, there are still chances that the price will reach 1.2480 area.
That being said, swing traders can think about accumulating BUYs at this level. Even short-term traders too can look for buy entries at 1.2610-1.2630 with SL below 1.2695. TPs can be set at 1.2680 and 1.2730
BRITISH POUND / U.S. DOLLAR to BUYGBP/USD is getting ready to go LONG.
Market has been in a downtrend for about 2 weeks.
A crucial support line has been hit in this drop.
Wait for confirmation of trend change, then find your entry.
Expecting a change in trend within the next week.
Scalp/day/swing trade market to the upside.
You pick your exit point.
DISCLAIMER;
Trading carries risks, ideas are for guideline purposes only.
Do set stop losses when trading & be generous with how much room allowed for candle wicks.
There is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Example of how I find my entry;
GBP/USD Long Idea (5/8/19) 4HR Chart GBP/USD Short Idea (5/8/19) 4HR Chart
- Currently had a reversal at the disturbance level I drew up on the 1HR (orange)
- Had a quick rejection on the monthly support level @ 1.30000 also the 100% fib retracement level.
- With the dollar getting ready to fall, the orange disturbance level seems to be a good spot to place an entry, with the targets set to the micro
level @ 1.3250