GBP/USD - buy on 4H - next big up wave incoming
The Market price is since middle of October in correction movement and formed a triangle pattern.
Now the market reached a strong trend resistance line and is likely to come back to the drawn buy area (maybe after a small feakout to 1,2905)
-MACD baselines going to cross bullish soon which brings buyers into the market
-RSI baseline is within down trend channel and retraced from trend support line which is bullish indicator
-market price supported by 100 day moving average, expect fast down movement to buy area if the price close under the blue line
-upper bollinger bands stopped up movement which indicates further down movement
Wait for market to reach the buy area before entering long - otherwise is the risk/ratio rate bad.
Now the market reached a strong trend resistance line and is likely to come back to the drawn buy area (maybe after a small feakout to 1,2905)
-MACD baselines going to cross bullish soon which brings buyers into the market
-RSI baseline is within down trend channel and retraced from trend support line which is bullish indicator
-market price supported by 100 day moving average, expect fast down movement to buy area if the price close under the blue line
-upper bollinger bands stopped up movement which indicates further down movement
Wait for market to reach the buy area before entering long - otherwise is the risk/ratio rate bad.
Trade active
Trade closed: stop reached:
Trailing stop reached at entry
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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