Confluence of support indicate here is the bottom for gbpusd

We can enjoy this opportunity to long because the confluence of support is where several supports meet therefore its harder for seller to break it
and it is where bulls start long with a lot of buy orders.

the concept of a confluence of support opportunity is that you have more probability to win because bulls will buy of the trendline pullback, other bulls will buy the horizontal support and others will buy the bottom of the bull flag. that means more confidence within your trade. you enjoy having most big players at your side
Considering this fact there will be a lot more of buy orders than sell orders : that mean price will go up this week

so there is two trade out of this setup :the first i just said it above , and the second will be at the breakout of the bull flag

we also have a bullish macd volume divergence that confirmate us the retracement should be over and price is ready for an other impulse


adapt it to your trading style/your aversion to risk. if you prefer taking both or just the last (when price breakout bull flag).

Trade active

Trade closed: stop reached