TradingView
Solomoney100
May 3, 2022 2:16 AM

GBP/USD LONG POSITION Long

British Pound/U.S. DollarFXCM

Description

On a monthly view, there's a range and the sellers are still with strength. Weekly, buyer's trend, a pull back that got to 61% fibonacci. a set up for a buy trend but the sellers are still active. Daily, a descending channel that still got broken to the downside by the sellers with impulsive legs. H4 view, a consolidation before the break of the structure at 1.29879 to 1.24300 by the sellers, then a transition for a buy set up. H1 view, an overstressed price by the sellers, sellers are breaking new structure, price is respecting virgin structure before a transition for a buy setup. M30, for my entry, I'm expecting price to respect the structure 1.24517 for a confluence to be on a buyers landmine for a buy trade but if price buys impulsively, i'll wait for a retest on 1.25101 structure for a buy trade.
Comments
zAngus
Hello, well done on sharing your first chart with the community. Hope you liked the learning experience. Hope to see you post more.
From mod @zAngus
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