LOOKING AT BUYING GU IN THE AREAS 1.35700-1.35900
quick overview:
Looking at gbp/usd we have seen that we have been in a long term up trend but we have kind of stalled out around the 1.37400 region we can see that on 4hr we have stalled at this region but I'm not convinced that this is the top I don't see how gu will drop off that much we have been going up steadily with pullbacks I expect another pullback maybe to the wick fill on 4hr or we could see a deeper pullback but my first entries would be in the buy zone area
There is loads of orders in our green area I have put in this green area for you you look at price action we have loads of orders in this zone I don't think this zone will hold we have a imbalance below which hasn't been covered I think we can see price come into my buy area zone and take out all buyers and get a better price to buy it back from.
BUY AREA 1.35700-1.35900
STOP LOSS : (15 PIPS)
TAKE PROFIT:(180-200 PIPS)
RISK TO REWARD 1:16
(NO LIMIT ORDERS I WILL BE WAITING FOR PRICE TO ENTER INTO MY BUY ZONE)
REASONS FOR BUYING GU
LOWER G1/G2
NO PREVIOUS STRUCTURE BROKEN (TAKE OUT REATIL TRADERS)
70% -78%
If we see a break below our buy zone this trade will be invalid
