GBPUSD Long : Uptrend Continuation Long-Short-Long
Short term Long into Resistance, Short Retracement to Lows, then Long to Next Resistance Highs.
Trend basics tell us that Up Trends are formed with Higher Highs and Higher Lows and for Down Trends we have Lower Highs and Lower Lows.
By marking the Highs and the Lows - Near, Next and Far - they serve as price points that need to be breached and then exceeded with closes to indicate a change or continuation in trend. Until they are breached, they serve as areas to enter trades measured by the risk tolerance that a traders account allows for and while opportunities are missed, risk is controlled or managed with position size especially for Forex.
This approach keeps charts clean and simple and trading decisions contained within risk parameters allowing small losses when wrong.
Trend basics tell us that Up Trends are formed with Higher Highs and Higher Lows and for Down Trends we have Lower Highs and Lower Lows.
By marking the Highs and the Lows - Near, Next and Far - they serve as price points that need to be breached and then exceeded with closes to indicate a change or continuation in trend. Until they are breached, they serve as areas to enter trades measured by the risk tolerance that a traders account allows for and while opportunities are missed, risk is controlled or managed with position size especially for Forex.
This approach keeps charts clean and simple and trading decisions contained within risk parameters allowing small losses when wrong.
Comment:
Prices has entered resistance area that needs to break, else price can be expected to turn lower.