DLavrov

Trading Ideas for Cable

FX:GBPUSD   Pound Sterling/U.S. Dollar
141 0 7
Let's think about how to trade GBPUSD             . After the great fall the pair stopped between 1.3200-1.3500 and it's near Bollinger Band . We have possible reversal and buy zone between 1.3120-1.3530 and for opening long trades we'll need confirmation from MACD and RSI . ADX must reverse and start falling. Only after that we can open long trades with targets near Moving Average with period 20. For short trades we have to wait when price moves back to MA 20 or 50 and it will be our sell zone. For entry the market we'll need confirmation from RSI and MACD that price reverse from Moving Averages. ADX won't have to confirm strong up movement. Long and short trades can be opened based on 1H and 4H charts.
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