Here's a continuation of the POUND / DOLLAR IDEA attached hope your enjoying your weekend. Now if you took the trade its time to adjust sl to the previous swing high right at 1.32559 or trail stop the trade, looking for continuation of this move with the bears so will be looking for shorting opportunities targeting fib ext level 0.618. Significant moves with the bull will stop those already in the trade at level 1.32559 but for those looking to enter the trade they cancel the trading plan.
many stars must align with the plan before executing the trade, kindly follow your rules. LET'S SEE HOW IT GOES..
here's some of my rules if they help. 1. look at structure be it descending channels, pennants and so forth. 2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.