stuartjohnston1981

Entry Point practice GBP/USD

Education
FX:GBPUSD   British Pound / U.S. Dollar
Having looked at the week time frame, I managed use trend lines to find patterns. I used these trend lines to find support and resistance lines.

When I completed this I looked at the 4 hour view, and repeated the process. To keep the trend lines easier to identify and compare, these trend lines are purple. New Support and Resistance lines are orange. From this view I've been able to see where price has been tested against support and how its reacted. Currently the price is in-between the support and resistance lines at 1.29091, my entry would be 1.27848 (highlighted area) as this seems to be following a similar patterns earlier on in the chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.