GBPUSD Analysis. Swing trade signal.
Hello everyone, i want share my idea about GBPUSD.
At this pair in my opinion we are still in bullish trend. couple day after this pair touch to weekly resistance, GBP start drop against dollar, fall but if we look past we see stronger buyers than sellers, which i think needs active, today European session open with short positions, if we look at lower timeframe we see price fall is strong after open session, but in my opinion that fall what we have is correction.
With my strategy i see some supports, for that i used Fibonacci toll which helped me for identify possible interest points and draw some scenes.
Scene 1 - price has reaction at 4h support where we will see strong buyers, they will continue trend and brake weekly resistance where this pair had strong reaction from sellers.
Scene 2 - price don't have reaction at 4h support it comes to daily support where buyers will active, it will make liquidity and continue trend.
Scene 3 - price coming Strong downside, don't have reaction at my marked levels and continue downside trend to retest weekly support. IN THIS SCENE I AM GETTING STOP!!
My setup for that trade.
Open Long position - 1.26040
Stop loss - 1.25270
Take profit - 1.28369
I am risking 2.5% of my deposit at the trade, if i will lose that trade i will be still alive for find another opportunity.
I am going to long that pair because i am strong bearish at dollar and their economic which i have published and i will link in this post.
ALWAYS MANAGE YOUR RISK!!!!!
At this pair in my opinion we are still in bullish trend. couple day after this pair touch to weekly resistance, GBP start drop against dollar, fall but if we look past we see stronger buyers than sellers, which i think needs active, today European session open with short positions, if we look at lower timeframe we see price fall is strong after open session, but in my opinion that fall what we have is correction.
With my strategy i see some supports, for that i used Fibonacci toll which helped me for identify possible interest points and draw some scenes.
Scene 1 - price has reaction at 4h support where we will see strong buyers, they will continue trend and brake weekly resistance where this pair had strong reaction from sellers.
Scene 2 - price don't have reaction at 4h support it comes to daily support where buyers will active, it will make liquidity and continue trend.
Scene 3 - price coming Strong downside, don't have reaction at my marked levels and continue downside trend to retest weekly support. IN THIS SCENE I AM GETTING STOP!!
My setup for that trade.
Open Long position - 1.26040
Stop loss - 1.25270
Take profit - 1.28369
I am risking 2.5% of my deposit at the trade, if i will lose that trade i will be still alive for find another opportunity.
I am going to long that pair because i am strong bearish at dollar and their economic which i have published and i will link in this post.
ALWAYS MANAGE YOUR RISK!!!!!
Comment:
I think I missed my entry point but I am still looking it if it will continue upside movement it will missed but if it will start downside movement I will wait how strong will be, if price movement will be not strong I will leave my limit order for enter my long position but if it will strong I will cancel my order, at the moment price had reaction at Fibonacci 61.80 LVL.
Comment:
Unfortunately i missed this trade, my limit order is cancelled.
I will share another trade idea if i will decide.
I will share another trade idea if i will decide.
