TomProTrader

GBPCNH-Update: Strong Upside, Hold Position #Forex

FX_IDC:GBPCNH   BRITISH POUND / OFFSHORE CHINESE YUAN
6
Traders,

Update on trade: Moving extremely well to the upside since I last posted the pair (See related ideas). Lots of pips have been made.

Strong bullish candlesticks showing a clear rounded bottom/accumulation at the lows of the range. Price hit long term Fibonacci extension expiry level before accumulation formed. Price has shown a nice shift from bear to bull demand, and a breakout of the rounded bottom range is about to occur. Nice upside to be seen.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.