GBPSEK LONG - Buy Entry - H4 Chart
Buying at break of @ 12.72396
Symbol: GBPSEK
Timeframe: H4
Type: BUY
Entry Price: Buying at break of @ 12.72396
Major Resistance Becomes Support @ 12.72396
TP - Major Resistance @ 13.02877
TP - Major Resistance @ 12.85803
Major Support @ 12.57728
Major Support @ 12.61968
I previously stated I was expecting this to drop a bit more but it seems to have formed some support in the current area but it is at 0.382 FIb so that is fine. I recommend waiting for the MACD to show some more signs of bullishness and EMA's to cross or come very close to crossing before entering a long. TP is at -0.272 Fib and SL just below 0.5 Fib as shown on the chart
This has had sharp growth in the past week and broken structure. I expect this to now retrace to support at 0.5 Fibonacci and then rise 11.517 which is -0.272 Fib
