GBPUSD <SWING TRADE> <LONG>
Good day all,
After crazy price volatility from inflation report, price has settled and in my opinion bulls has taken over in GBPUSD. In other words in DXY bears are in control.
<LONG TRADE>
Confluence 1: Price retraced to 61.80% and gave a Doji candle stick.
Confluence 2: Bullish engulfing candle spotted right after doji candle. engulfing candle spotted with lower bottom wick in 2H Charts.
Confluence 3: Price retested previous structural high and gave some sort of bullish movement twice of tweezers in 4H charts.
Confluence 4: We are still in the Buy zone as price has not break the outer trend line which is up. Inner trendline observed to be broken, naturally price will fall to the next trendline which is the outer trendline.
Entry: After 2H Bullish engulfing spotted - 1.21966
Stop loss: At Fib levels 78% - 1.21292
Take profit: With relation of price retracing to 38% we will TP at 61.8 Extension - 1.23320
Regards
Athena
All the best!
After crazy price volatility from inflation report, price has settled and in my opinion bulls has taken over in GBPUSD. In other words in DXY bears are in control.
<LONG TRADE>
Confluence 1: Price retraced to 61.80% and gave a Doji candle stick.
Confluence 2: Bullish engulfing candle spotted right after doji candle. engulfing candle spotted with lower bottom wick in 2H Charts.
Confluence 3: Price retested previous structural high and gave some sort of bullish movement twice of tweezers in 4H charts.
Confluence 4: We are still in the Buy zone as price has not break the outer trend line which is up. Inner trendline observed to be broken, naturally price will fall to the next trendline which is the outer trendline.
Entry: After 2H Bullish engulfing spotted - 1.21966
Stop loss: At Fib levels 78% - 1.21292
Take profit: With relation of price retracing to 38% we will TP at 61.8 Extension - 1.23320
Regards
Athena
All the best!
Note
Added more at 1.21953 Doji spotted in 4H chartsNote
SL amended to 1.2142TP amended to 1.23288
Will add more positions after current 8H candle close if candle close above 8MA
Note
Last position added. SL 1.21866
TP 1.23288
Good luck all
Trade fermée manuellement
Trade closed!Note
Trade closed as DXY looks like its consolidating. Bulls are stepping in Good trade anyway!
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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.