Uptrend broken which has confirmed a new market structure now reversing into a downtrend, consisting on lower highs and lower lows.
Predicting a small increase which is then to retest support and if this is to happen i would expect a price melt back down to original support from a few days ago 0.663 which is highlighted on the chart.
GBPUSD Long trade 1:4 RR
Following the trends for the last few weeks I have identified a small range where i will be looking to get a long trade.
This would represent a 4 to 1 reward to risk which i am aiming for.
Any ideas/thoughts pleas share.
Following the trend lines i see a potential opportunity for a small short which could be fulfilled very quickly.
If the upper trendline is broken then a small loss would be incurred but with no reports coming out to push the fundamental trading it would suggest to follow the trend.
Any advise/feeback is much appreciated as I'm only new to this.
EURJPY - Reward:Risk 3:1
I expect EURJPY to continue up the trend line until meeting previous resistance.
Opportunity for a long trade on with the uptrend.
Any advice/feedback would be great and much appreciated as I've only just started.