ENTRY AT 181.00 W1 20SMA 61.8% DESCENDING TRIANGLE FORMATION
THIS IS A W1 TRADE. SO LOOK AT D1 FOR VIABLE PRICE ENTRY CONFIRMATION. ALSO GIVE SOME SLACK TO YOUR STOP, GBP JUST MOVED 100PIPS IN 1 HOUR. REQUIRES CONFIRMATION TO TRADE THIS ONE AS IT IS NOT WISE TO SELL A PAIR WHICH HAS CLIMBED 600 - 700 PIPS IN 2 WEEKS. THIS GBP STRENGTH COULD, OF COURSE, CAUSE THE PAIR TO BREAK OUT OF THE TRIANGLE WITHOUT HESITATION. IT HAS ALREADY STOPPED ME OUT OF MY GBPUSD THOUGH I HAVE RELIABLE SIGNAL TO SELL IT. SO NOTHING IS IMPOSSIBLE. DO YOUR OWN HOMEWORK AND TRADE WITH CAUTION.
SUBSCRIBE COMMENT AND LIKE MY IDEAS IF YOU AGREE OR DISAGREE.
Hi Price, I took a week off, but I'm back :P here are my lines
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PriceActionTrading
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Nice chart as always.
moneymaking
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Ya same here. GBPJPY pair has given me some problems as well. Let's see how this plays out. Looking forward to updates on this by you. Good luck :)
IvanLabrie
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Definitely something to monitor.
ElPatron.Y
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I'm targeting the same price, but my entry was a bit earlier..
PriceActionTrading
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Well, "earlier" has various definition in trading. My target may never get hit, then i would consider you lucky not early. As long as planning was done, stop loss and risk is acceptable when you place that trade, all is fine.
ElPatron.Y
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I'm long from 180 area so not that early lol.. I've posted my chart also you might check it on my profile.
SunnyBTC
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Should be a good low risk short entry around 181.28 or more risky is around 181.04
PriceActionTrading
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That is true. If we can get that price i think that it is definitely worth the risk.
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