Good entry point for GBPUSD as signals on the left indicate.Will go out once stochastic RSI reaches overbought area
If ema lines dont cross each other to the upside signal wont be valid anymore .
Blue - 4 ema
Red - 50ema
Next supply zone should be more significant as it is a daily supply nested within a weekly supply zone.
Expecting this pair to continue the higher time trend.
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good morning traders,
short trade went active on usdcad this night.
reasons - retest of the broken support of the rising channel + overbought market on higher timeframe
stop - 1.3324 (above the lower high)
Initial target - 1.323
stop to breakeven after 1.3255
1) Price has formed a double bottom on the daily chart
2) Price has rejected this support previously more than 3 times
3) I dont have a 3rd confluence, hence I may wait this one out until I see another confluence
1] I will be looking for comfirmationm with some kind of candle pattern such as bullish engulfing.
Looking for a Long (Buy) trade. Risk to reward is...
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