British Pound / U.S. DollarUpdated GBPUSD idea
Trend breakout with retesting – confirmation.
CAUTION because price is close to strong resistance – if it bounces back down quick short scalp.
On lower time frames (5M, 15M) we have bullish EMA crossing (50 and 200) – if EMA is retested and price bounces I will see this as valid LONG trade.
Strong bullish volume 5 days ago.
You could wait for more confirmations on trend line therefore I marked possible entry points.
Always use SL and TP.
Aiming for around 1% of profit – with scailing out from around 0,5% and up.
CAUTION because price is close to strong resistance – if it bounces back down quick short scalp.
On lower time frames (5M, 15M) we have bullish EMA crossing (50 and 200) – if EMA is retested and price bounces I will see this as valid LONG trade.
Strong bullish volume 5 days ago.
You could wait for more confirmations on trend line therefore I marked possible entry points.
Always use SL and TP.
Aiming for around 1% of profit – with scailing out from around 0,5% and up.
Note
Testing 200 EMA on 5M chart. If it does not hold we will look for lower entries to add positions to current one.1m and 5M bullish divergence but none on higher time frames
1M short term bearish, rebouncing from 50 EMA (50 already under 200)
Note
Price heading towards trend line and smaller support zone.SLowly scailing in.
ALWAYS use SL and protect profits. Let winners run and cut losers quickly.
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Trade closed: target reached
TP reached.Always use break even stop loss.
Great trade everyone!
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