GBPUSD - 1D - Post Before Week Starts - Reversal Zone
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Underlying: GBPUSD
Time frame: 1D
I wanted to get this out before the week starts again. The pink zone is where I am looking at for a potential reversal zone. The MACD EMA's are trading significantly above the centre line which is fine, although they have crossed previous observations shows that a large down move will NOT happen yet. With that said I am looking at the Bollinger Bands again to identify when another chance comes to buy. Currently we are just above the middle of the Bollinger Band, when it starts to trade below that line (shown in brown) you can look to take a buy position.
I will update the idea to tell people once I have bought.
Underlying: GBPUSD
Time frame: 1D
I wanted to get this out before the week starts again. The pink zone is where I am looking at for a potential reversal zone. The MACD EMA's are trading significantly above the centre line which is fine, although they have crossed previous observations shows that a large down move will NOT happen yet. With that said I am looking at the Bollinger Bands again to identify when another chance comes to buy. Currently we are just above the middle of the Bollinger Band, when it starts to trade below that line (shown in brown) you can look to take a buy position.
I will update the idea to tell people once I have bought.