GBPUSD just broke out of bear trend. Now what?
Trend
--------------
Daily Trend: Consolidation
4H Trend: Up
Signal
---------------------------
Flag Pattern
Target Prices
--------------------------
Entry - 1.30170
SL - 1.29377
1st Target: 1.30963
2nd Target: 1.31360
Strategy:
--------------------------
Trend continuation as price broke out of the parallel channel shown on the chart.
Description:
--------------------------
We have been seeing previous down trend coming to stop at least for the time being.
If we look into 4H, the price is making higher lows & highs, forming short-term up trend.
Since price has broken out of it's trend resistance, we now have a solid reasoning behind taking long position.
Price should continue to move up per Dow's theory.
--------------
Daily Trend: Consolidation
4H Trend: Up
Signal
---------------------------
Flag Pattern
Target Prices
--------------------------
Entry - 1.30170
SL - 1.29377
1st Target: 1.30963
2nd Target: 1.31360
Strategy:
--------------------------
Trend continuation as price broke out of the parallel channel shown on the chart.
Description:
--------------------------
We have been seeing previous down trend coming to stop at least for the time being.
If we look into 4H, the price is making higher lows & highs, forming short-term up trend.
Since price has broken out of it's trend resistance, we now have a solid reasoning behind taking long position.
Price should continue to move up per Dow's theory.
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.