Aug 15 and Oct 31 may form GBPUSD 1.269 double bottom shape. Oct 12 -> Oct 31, short trend has been broken today.
So , what do I plan to do next?
I will waif for one or two day minor fall back, then take 50% long position, stop loss at 1.269, first target 1.292, second target 1.307, third target 1.324. My get-in price should be below 1.280, otherwise, the profit-loss ratio of the first target maybe not enough.
now, just wait and watch 1-hour level , wait for price fall .. the chance will come maybe tomorrow or maybe next Monday.
BTW, if the price go above long term third target 1.324 and stand steady above , long position will be very very happy..
So , what do I plan to do next?
I will waif for one or two day minor fall back, then take 50% long position, stop loss at 1.269, first target 1.292, second target 1.307, third target 1.324. My get-in price should be below 1.280, otherwise, the profit-loss ratio of the first target maybe not enough.
now, just wait and watch 1-hour level , wait for price fall .. the chance will come maybe tomorrow or maybe next Monday.
BTW, if the price go above long term third target 1.324 and stand steady above , long position will be very very happy..