In last week's trading, GBPUSD fell quite strong and we need to wait for the price to pullback before another sell.
At the beginning of this week, the price made some upside movement.
The sell area is the S/R area, 50% retracement of the total swing and 61.8% of last week's swing.
This area will hold the price to go up even more.
- For aggressive entry, you can set a sell limit in that area.
- And for conservative entry, you can wait for rejection in that area and wait for correction on a smaller timeframe
At the beginning of this week, the price made some upside movement.
The sell area is the S/R area, 50% retracement of the total swing and 61.8% of last week's swing.
This area will hold the price to go up even more.
- For aggressive entry, you can set a sell limit in that area.
- And for conservative entry, you can wait for rejection in that area and wait for correction on a smaller timeframe
Comment:
Trade closed manually:
close all +130 pips