Intraday: Long GBPUSD as it approaches Demand Zone
Reasons:
1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level
2. Overall up trending, recently price broke out of sideways congestion area – will only be keen to take long positions to go with the trend. Note: On a longer time period, it’s still down trending.
3. Prior resistance turned support level
Our Trade Setup will be:
EP: 1.2904
SL: 1.2884
TP: 1.2924
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level
2. Overall up trending, recently price broke out of sideways congestion area – will only be keen to take long positions to go with the trend. Note: On a longer time period, it’s still down trending.
3. Prior resistance turned support level
Our Trade Setup will be:
EP: 1.2904
SL: 1.2884
TP: 1.2924
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Comment:
we removed our limit order as price had tested our level 1 pip before moving up.
Order cancelled:
Trade has been cancelled.