GBP USD Forex market analysis
Updated
We are looking for a huge amount of pep. Here we see a downtrend and the price made a false breakout of this resistance (D Time frame ). We have the opportunity to see the price go to the bottoms , also from the fundamental analysis, the dollar is stronger than the pound sterling .
So the plan is to look for an opportunity on a smaller frame
On the 30-minute time frame, we see the price forming lower bottoms. In the last correction, a trend line and a support level are formed.
f a price breaks them, we enter a short trade and place a stop loss above the last high, and we run a trade after entering .
So the plan is to look for an opportunity on a smaller frame
On the 30-minute time frame, we see the price forming lower bottoms. In the last correction, a trend line and a support level are formed.
f a price breaks them, we enter a short trade and place a stop loss above the last high, and we run a trade after entering .
Note
A trade that didn't go well changed the profit target to 1/4 risk (1.20511). By following the rule “Cut Your Losses and Let Your Profits Run”Note
I changed the stop loss to 1.20511 . By following the rule “Cut Your Losses and Let Your Profits Run”Note
The position is closed at 2/3 of the risk
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