danielbtrading

GBPUSD - New Highs Incoming!?

Long
FX:GBPUSD   Livre sterling / Dollar américain
The GBP/USD chart has recently been moving in a bullish direction on the daily chart since the lowest low in march of 2020 due to the start of a pandemic. Because of this I looked on the 4 hour chart for a potential pull back to go long and follow the positively correlated channel. I used a diagonal line to show the support since march 2020 with a support line on a march larger scale to show where the breakout started. Then the channel signifies where I'm looking to enter on the 4hr chart, which is around the 1.3 mark. I will wait for potential buy signals on my algorithm or rejection/consolidation before I enter, but the zone marks where my 2:1 reward to risk will occur, ensuring an overall better financial gain.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.