1. Trade Setup
Pair: GBP/USD
Timeframe: 15-minute
Strategy: Buy Limit Order
Indicator Used: EMA 21
2. Market Structure & Analysis
The price is in an uptrend, forming higher highs and higher lows. You’ve identified a key support zone (previous resistance now turned support). Price has broken above resistance, and you're expecting a pullback to retest the zone...
1. Downtrend Reversal: The price was initially in a downtrend, as indicated by the descending trendline.
2. Breakout Confirmation: The price broke above the 1-hour trendline, signaling a potential trend reversal.
3. Buy Limit Strategy: Instead of entering immediately, a buy limit order was placed at a key support zone after the breakout.
4. EMA 21 as Support:...
Technical Overview:
Timeframe: Daily (1D)
Pair: EUR/USD
Indicator: EMA 21 (Exponential Moving Average)
Key Levels:
Resistance: ~1.05155
Support: ~1.03330
Psychological Level: 1.04550 (current price zone)
Major Support Zone: ~1.02500
Analysis:
Market Structure:
The market is in a retracement phase after a bullish move.
A bearish rejection at resistance (~1.05155)...
