stuartjohnston1981
Education

Entry Point 4 GBP/USD

FX:GBPUSD   British Pound / U.S. Dollar
Having looked at the daily time frame (will need to be more careful next time), I managed use trend lines to find patterns. I used these trend lines to find support and resistance lines.

When I completed this I looked at the 4 hour view, and repeated the process. I would set my entry point at 1.2786 which is currently the support line on the daily time frame. I identified several engulfing candles/hammers; these indicated several reversals in the trend.Currently there is a Doji on the 4 hour time frame which indicates uncertainly/indecision. However when compared to the daily chart , there is a upward trend. I would therefore buy at the entry point already indicated above, and set my stop-order at the rules already set by myself.
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