Check out this trade setup on #GBPUSD! 🇬🇧🇺🇸
📉 The Inverse Head and Shoulders pattern on the 4-hour chart, with a neckline at 1.2276, has just been broken! 📊 This indicates a potential upward trend. 📈
💰 The price is currently consolidating around the 0.235 level of Fibonacci due to high-impact GBP news on GDP m/m. 📢
🚀 Long entry opportunities:
1️⃣ Enter at 1.2313
2️⃣ Wait for a breakout at 1.2337 (0 fib level)
3️⃣ Consider an entry at 1.23076 (0.236 fib level)
❌ Don't forget your risk management:
Set your stop loss at 1.22118 to protect your capital.
💰 Profit targets:
1️⃣ Take profit at 1.2415 (1:1 Risk-Reward Ratio)
2️⃣ Consider a higher target at 1.2517 (1:2 Risk-Reward Ratio)
🌐 On the fundamental side, the USD is currently dovish, and the DXY currency index has been bearish since October 3, 2023. 📅
📚 Remember, it's essential to combine both technical and fundamental analysis for a well-rounded trading strategy. 💡
Trade wisely and stay updated with the latest market trends! 🌍💼💹 #ForexTrading #TechnicalAnalysis #InverseHeadAndShoulders #TradingTips #FinancialEducation 📈💹📚
📉 The Inverse Head and Shoulders pattern on the 4-hour chart, with a neckline at 1.2276, has just been broken! 📊 This indicates a potential upward trend. 📈
💰 The price is currently consolidating around the 0.235 level of Fibonacci due to high-impact GBP news on GDP m/m. 📢
🚀 Long entry opportunities:
1️⃣ Enter at 1.2313
2️⃣ Wait for a breakout at 1.2337 (0 fib level)
3️⃣ Consider an entry at 1.23076 (0.236 fib level)
❌ Don't forget your risk management:
Set your stop loss at 1.22118 to protect your capital.
💰 Profit targets:
1️⃣ Take profit at 1.2415 (1:1 Risk-Reward Ratio)
2️⃣ Consider a higher target at 1.2517 (1:2 Risk-Reward Ratio)
🌐 On the fundamental side, the USD is currently dovish, and the DXY currency index has been bearish since October 3, 2023. 📅
📚 Remember, it's essential to combine both technical and fundamental analysis for a well-rounded trading strategy. 💡
Trade wisely and stay updated with the latest market trends! 🌍💼💹 #ForexTrading #TechnicalAnalysis #InverseHeadAndShoulders #TradingTips #FinancialEducation 📈💹📚
Trade closed: stop reached:
STOP LOSS HIT
