Seeing bullish signals at the bottom of a nice range with some good upside.
A morning star signal on the D1 chart with a stoch buy signal. Price has broken through the short term trend line resistance and looks like it is holding as support on the 4h and 1h timeframes.
I would prefer a tighter stop loss around 1.29 but with 3 major USD news events later today, a wide stop loss would be advisable.
Trade closed: stop reached
⋅
Unfortunately brexit news over the weekend has changed GBP sentiment and price gapped down and has been heading lower ever since.
Comments
KoalaBear
⋅
Thanks for the info. The channel looks quite strong, which I didn't follow when opening my first trade (Buy @ 1.333) on 13 September.. Hopefully the USD news won't derail current direction upwards. I need it to get back to 1.3096 to clear my position.. Trading as a consumer / retail trader isn't easy :P