CONFLUENCE : 200SMA D1 AND H4 SWING SUPPORT AS WELL AS 178.00 SUPPORT LINE. PRICE HAS BOUNCED FROM THE 200SMA ONCE, RISING 800PIPS AFTERWARDS. H4 ALSO SHOWING INVERSE H&S WITH NECKLINE 180.00.
MY INTENTION IS TO BUY AFTER PRICE HAS FAKED THE 178.00 LEVEL. I.E. GO BELOW 178 ON THE H4 AND SUCCESSFULLY CLOSE ABOVE 178.00 ON THE H4. FAKING PEOPLE TO TRIGGER THEIR SELL AND TRAPPING THEM. THAT WILL FURTHER CONFIRM MY BUY TRADE..
MY BIAS ON GBP IS CURRENTLY A BUY.
TRADE INVALID IF H4 SUCCESSFULLY CLOSE BELOW 178.00 FOR TWO BARS CONSECUTIVELY.