GBPUSD new entry to ride the new(?) downtrend
Piphunters took entry at first Lower High after first EMA12/36 Crossover.
But we can still catch plenty of opportunities if you missed the first one.
We can expect a bounce to the upside at around the current area (EMA200/633)
Short term LONG is possible at sign of price change at EMA200/633 with target @1.55
Then Enter SHORT SL and TP all depends on price action at current time.
Piphunters try to use last Heikin candle HIGH as SL
TP1=SL
TP2=2*SL
TP3= Keep alive and move SL to entry price
Forexpower calculation also confirms this as SHORT trade, so watch out if you are trying to go counter trend and go LONG up to upper trend line.
But we can still catch plenty of opportunities if you missed the first one.
We can expect a bounce to the upside at around the current area (EMA200/633)
Short term LONG is possible at sign of price change at EMA200/633 with target @1.55
Then Enter SHORT SL and TP all depends on price action at current time.
Piphunters try to use last Heikin candle HIGH as SL
TP1=SL
TP2=2*SL
TP3= Keep alive and move SL to entry price
Forexpower calculation also confirms this as SHORT trade, so watch out if you are trying to go counter trend and go LONG up to upper trend line.