RAISING WEDGE REVERSING THE SHOW- BEARISH.

Hi all,
The GBP against the USD is one of the oldest currency pairings in the world. this pair is often called 'The Cable',
The first transatlantic communication run across the atlantic floors.
It used to transfer the currency prices between the two economics.

The chart has observed in a hour time-frame, the dollar index reached the very critical zone. The signals, momentum moved in the solid trend line.

Raising trend line and horizontal support will provide a huge opportunity for a trade.
This kind of pattern known as RAISING WEDGE.

Once the market, price hit the horizontal support it will fall.
Wait a for the hit and decide your sell.

SIGNAL SPECIFICATION

Pair:GBPUSD

Order:SELL

Entry:1.34249

Take profit:1.33491

Stop loss:1.34592

Risk Vs Reward:2.21
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Note:
Trade signals would usually have a risk to reward ratio of 1:2.
It means that, even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
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Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

Note: Everything works with Best money management.

Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best
Forextamil

Trade fermée: ordre d’arrêt atteint:

Stop loss hit.

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