GBPUSD - Trending Move & Retracement Move

Hi Traders!
The market is in a Downtrend.

As you can see the market started the downtrend at the Top at around 1.28000.
The first Trending Move was until the Support at 1.24500.
The trending move had the strength of 350 pips.

Then the Retracement started.
The move ended at the Resistance at 1.27000.
The distance is 250 pips.

The next Trending Move started.
The distance of the first Movement and the next Support matches magically.

So that's what we're waiting for:

• Entering of the "Buy Area",
  
• forming a Bullish confirmation (e.g. Candlestick Pattern) + BUY,
  
• TP at next Resistance.
  

We recommend to trade the market carefully, because we here are trading against the big Trend.


Thanks and successful Trading :)!

Comment:

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