yashp1
Short

GBPUSD high probability entry setup in the next few hours.

FX:GBPUSD   British Pound/U.S. Dollar
There is possibility of a head and shoulders pattern forming, along with macd divergence, and a break in the uptrend, IF and only IF those three come true, we have a chance of entering the trade when price retests the neckline and starts moving down.
Only once that retest is complete and price starts it's journey to the downside will we even think about entering this trade.
Set a "crossing up" and a "crossing down" alert below the neckline to make monitoring this possible set up easier for you.
Remember not to over leverage any position no matter how "sure" you are.
Trade active: As I expected the, neckline has been breached, set a 'crossing down' alert at 1.3149.
That way you will only get alerted when the pullback is complete and you can enter to short when the alert is triggered,
Only and only once my alert has been triggered, will I even consider an entry.
My choice for a SL is 1.3185 and a potential first target is 1.30425. at which point I will close out of half the position then bring my stop to the breakeven level and then consider my second target to 1.2965
if price closes past the 20 ema after the trade is live and before it reaches the second target i exit my whole position.
Trade safe, manage risk well, use systems and keep emotions out of it.
Peace.
Trade closed: target reached: trade to be exited with profit at 1.30888
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out