Hey guys,
this is the 4hr chart on GBPUSD. I'm looking at this because i think there could be potential for upside: we've just bounced from 1,28 (a daily structure) and in doing so price broker and closed above an intraday resistance (purple line). The next daily structure comes at roughly 1,3023 and therefore i'm expecting to see a continuation till we reach that point in the market. I'm even more convinced by the behavior of price action that's formed a flag pattern and also has broken that flag to the upside. Price is now coming back and this level is ideal for an entry.
I set my order right at the blue line, with stops and targets as shown on the chart.
If you have any question/idea, feel free to comment below.
Otherwise, see you in the next chart!
this is the 4hr chart on GBPUSD. I'm looking at this because i think there could be potential for upside: we've just bounced from 1,28 (a daily structure) and in doing so price broker and closed above an intraday resistance (purple line). The next daily structure comes at roughly 1,3023 and therefore i'm expecting to see a continuation till we reach that point in the market. I'm even more convinced by the behavior of price action that's formed a flag pattern and also has broken that flag to the upside. Price is now coming back and this level is ideal for an entry.
I set my order right at the blue line, with stops and targets as shown on the chart.
If you have any question/idea, feel free to comment below.
Otherwise, see you in the next chart!
Order cancelled:
Unfortunately price didn't trigger our order, now it's no more valid. To the next chart!