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Gbpusdbuy

Sterlin sets up for a relief rallyHi guys, today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above. The consequent break of structure to the upside makes me think it could go higher on this short timeframe. You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Sterlin sets up for a relief rally!!Hi guys, today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above. The consequent break of structure to the upside makes me think it could go higher on this short timeframe. You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
The triangle has been broken to the upside on GBPUSDHey guys, just wanted to share my view on gbpusd; as you can see price has recently broken to the upside this simple pattern called triangle. It's basically made of two converging trendlines that encompass price action. You can take advantage of this pattern by simply buy at the first candle close above/below one of the trendlines, or you can wait for a retracement and then enter the market. The bigger retracement has already happened, but as of now price level is nice in order to have a positive risk to reward ratio at the retest of the daily resistance near 1,2550, so it's appealing to me. Entry at market, stops below 1,2400 even handle, target1 near 1,2550, target2 to be determined (approximately near the dark green line). Let's see. If you have any question, feel free to type it in below. Otherwise, see you in the next chart!
Long
by Roker1