Buys on GBPUSD if you haven't entered already
Updated
IDEA:
Take a look on the daily timeframe, we are in a bearish channel however our price is coming from the support of this channel, thus buys.
If we dive deeper into the 4h timeframe we can see a clear head and shoulders pattern, as we wait for a break of the neckline to enter our long positions.
Furthermore on the 30min chart you will see a bullish channel, where we will be looking for the perfect entry, notice the price still has to reach the channel's support and then only come back up to break our neckline, so we are a bit early but enter your buy stops now.
CONCLUSION:
We have 3 confirmations (if confirmed) making this a high probability trade:
TRADE GUIDELINES:
Entry: 1.32100
SL: 1.31100
TP 1: 1.33000
TP 2: 1.34300
TP 3: 1.35100
Let me know what you think! Good luck! :)
Take a look on the daily timeframe, we are in a bearish channel however our price is coming from the support of this channel, thus buys.
If we dive deeper into the 4h timeframe we can see a clear head and shoulders pattern, as we wait for a break of the neckline to enter our long positions.
Furthermore on the 30min chart you will see a bullish channel, where we will be looking for the perfect entry, notice the price still has to reach the channel's support and then only come back up to break our neckline, so we are a bit early but enter your buy stops now.
CONCLUSION:
We have 3 confirmations (if confirmed) making this a high probability trade:
- Bullish momentum coming from support of daily channel
- Head and shoulders on 4h chart neckline is at an area of high sensitivity
- Breakout of 30min bullish channel
TRADE GUIDELINES:
Entry: 1.32100
SL: 1.31100
TP 1: 1.33000
TP 2: 1.34300
TP 3: 1.35100
Let me know what you think! Good luck! :)
Note
Pair going exactly as anticipated! Looking for strong buys upon breakout of our channel.KEEP AN EYE OUT
Note
Struggling to get a valid break of our neckline but still confident on going long as we have not broken below our bullish channel yet.NB PATIENCE IS THE KEY TO WINNING
Trade active
Still in on the buys. Hit a little fake out but we still in.Trade active
Triple bottom confirmed, sells confidently in place.
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