Another TP hit on this yesterday, now retrace it taking place. Looking for chance to re-enter a long around 0.382 Fibonacci. If price rebounds here target is 1.96382. Looking for a further target beyond that of 1.98041 but that may need to be a separate trade after taking profit and seeing retrace.
This now looks to be breaking above resistance. I said this was happening a couple of days ago but I jumped the gun slightly, hopefully if you opened the trade then you are still in. Now want to see this stabilise above resistance and possibly retrace to test it as support. If you are not in this trade then I suggest waiting for a retrace to support before...
GBP is looking very strong and I expect it to push higher. Price on this is currently at resistance but with the momentum this should go straight through it. I have set 2 take profits as I am ultimately aiming for TP 2 but TP 1 allows for exiting the trade and re-entering after a retracement.
After yesterdays Bank of England announcements all GBP pairs have spiked upwards. I would expect a retrace on this soon before generally continuing upwards. I am bullish on GBP in the long term but there should be some short term shorting opportunities coming. This is also at a big monthly and daily resistance level which should make a drop more likely, and at the...
As we can see we are inside a consolidation zone. Inside in this area we have noticed that we have formed a strong trendline that represents support, and we have broken this support after 7 hours of trying.
Now we will wait for the retest of this Support which is now resistance and again the Bearish movement until the touch of our Target.
Keeping it simple and letting price dictate what it wants to do
Waiting for price to break resistance before first buy then doing the same with the second
There is divergence on multiple timeframes and price has broken a downward trend line (not drawn)
On this chart we can see a pull back that has occurred during this uptrend, a new level of support was found and price has come back to retest
We are already in this trade and I will be expecting price to bounce off this level and continue moving up