GBPUSD Bullish Trend Continuation
GBPUSD has been on a bull trend since the start of November 2023.
Price has then retraced back to a very strong key level at 1.25
-Fib.618
-Daily Demand Zone
-Phycological level
-Previous resistance turned support
The bullish structure of price is still intact , and the support level of 1.25 is holding price very well
-Long wicks down & closed abv the previous lows
Trading Plan
- Wait for price to displace Strongly upwards, & close above the 1.261 level, signalling the short term downtrend is over
-Zoom down to the lower TF for entry (15M/30M/1Hour). Wait for the price to displace & retrace. Can enter off Fib levels / order blocks created by the displacement.
-Stop Loss below 1.245 ( Previous Structure higher low)
Cut Loss if Daily candle closure below it
-Alternate stoploss can be below 1.25 (Riskier)
Price has then retraced back to a very strong key level at 1.25
-Fib.618
-Daily Demand Zone
-Phycological level
-Previous resistance turned support
The bullish structure of price is still intact , and the support level of 1.25 is holding price very well
-Long wicks down & closed abv the previous lows
Trading Plan
- Wait for price to displace Strongly upwards, & close above the 1.261 level, signalling the short term downtrend is over
-Zoom down to the lower TF for entry (15M/30M/1Hour). Wait for the price to displace & retrace. Can enter off Fib levels / order blocks created by the displacement.
-Stop Loss below 1.245 ( Previous Structure higher low)
Cut Loss if Daily candle closure below it
-Alternate stoploss can be below 1.25 (Riskier)
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.
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.