we have a great breaking of the rectangle wich mean the market will go to the resistance (1) . so if the market breaks the first resistance (the target) it will go down to the resistance number (2) . So if you have a suggestion or advice leave it in the comments . and if you like my analysis break the 'Like' button s
if the market breaks the resistance of the rectangle it will rise or , if it breaks the support of rectangle the market will go down .
So if you have a suggestion or advice, leave it in the comments And if you like my analysis, break the Like button
We are currently at the breakout levels,
If GBPUSD, is able to take out the current lows
😋Then we would be in for nice profits while holding it to the downside.
As we have noticed it bouncing in and around the current level. A break and retest of that market level would be the beginning of sell entry.
Would personally be taking this trade if all criterias are met.
After price consolidation, the market has broken out of the rectangle and closed 16 pips above, indicating the return to the uptrend formed before the consolidation.
ADX just before the rectangle indicated a string uptrend was forming - potential to re-enter long positions.
An EMA of 55 shows that there is still a long-term uptrend forming, however stochastic...
Price has just come off support around the 0.9300 big figure. In the last few days the market has established a trading range between 0.9300 and 0.9450.
Price rotating lower in early Asia trading and if the recent low holds (June 9th) then there is potential to see price trading higher to test the range highs around 0.9400-50
Into 50% of range below
Back above current range low
RR not favourable so looking for dip down into range low for buying opportunity
Range high first target
Will look to add once initial position taken