Scalp straight channel to retets resistancePresented is a 1 hr chart buy scalp idea.
As I mapped out we can see a straight channel in play between resistance of 1.68100 and support of 1.66700. If you trade this pair we know we get choppy movements so patience is a must to retest top resistance.
I am relying heavily on RSI and SRSI movement. SRSI is correcting within oversold zone with current bullish movement while RSI is breaching above 50. If MACD/SIGNAL line correct before crossing 0 line we add ore sentiment towards a top channel resistance breach. We can keep scalp trading within channel until there is a significant break with continuation out of channel in either direction.
Please comment with thoughts and ideas. Thank you.
Straightchannel
GBPUSD BUYGo for the BUY in gbpusd. In Uptrend whenever there is a straight channel it always breaks to the upside. It will move upside with the same size as below the straight channel. We will also see sell opportunity from top so get ready for that also.
Hit the like button if you find it helpful and informative and follow to catch the waves correctly.
PREVIOUS ANALYSIS