Why I Think GBPUSD Will Continue to Buy This Week
Hey Rich Friends,
I know its NFP Week, but we can still make smart trades by sticking to our plans. Be mindful, but do not trade with fear. I think that GU will continue to buy this week and here is why:
- The market has already rejected the previous demand zone.
- The 3 EMA (blue) has crossed above the 10 EMA (purple). This is a strong bullish confirmation for me
- The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above 50. This is a strong bullish confirmation for me.
- I will set my TPs at previous highs and my SL at a previous low
Good luck if you decide to take this trade. Remember to check the news and cross-reference the indicators that you have on your chart.
Peace and Profits,
Cha
I know its NFP Week, but we can still make smart trades by sticking to our plans. Be mindful, but do not trade with fear. I think that GU will continue to buy this week and here is why:
- The market has already rejected the previous demand zone.
- The 3 EMA (blue) has crossed above the 10 EMA (purple). This is a strong bullish confirmation for me
- The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above 50. This is a strong bullish confirmation for me.
- I will set my TPs at previous highs and my SL at a previous low
Good luck if you decide to take this trade. Remember to check the news and cross-reference the indicators that you have on your chart.
Peace and Profits,
Cha
Trade closed: target reached
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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.
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.