Nice flag in the 4h-chart. Here an example for a breakout Long trade. In the chart you see the possible buy Trigger, the stop loss and the TP.
Can the flag initiate a longterm Long Trade?
Update: GBPUSD reached Selling Zone / Breakout Zone
The Pair tested 9!!! times the Level between 1,5645- 1,5685.
When it worked 9 times to short that Pair, will it work once again?
In my opinion it looks too easy to fix that Level again because the strong Resistance Cluster is too obvious. The Short Chance/Risk-Ratio is appealing. I have illustrated the possible short Position in my Chart.
IMO, the resist will fall, the pair will reach new HIGHS. The BUY-Trigger is still above the mentioned Level (1,5685). For the bullish szeanrio i also Show a possible longtrade in my Chart. Good luck! Good Trades!
Former Analysis:
Good things need time: Will the Pair beat its strong resist @ 1,5675? If yes then the pair could make a new HIGH @ the uptrend channels upper edge @ 1,6145.
Can the flag initiate a longterm Long Trade?
Update: GBPUSD reached Selling Zone / Breakout Zone
When it worked 9 times to short that Pair, will it work once again?
In my opinion it looks too easy to fix that Level again because the strong Resistance Cluster is too obvious. The Short Chance/Risk-Ratio is appealing. I have illustrated the possible short Position in my Chart.
IMO, the resist will fall, the pair will reach new HIGHS. The BUY-Trigger is still above the mentioned Level (1,5685). For the bullish szeanrio i also Show a possible longtrade in my Chart. Good luck! Good Trades!
Former Analysis:
Good things need time: Will the Pair beat its strong resist @ 1,5675? If yes then the pair could make a new HIGH @ the uptrend channels upper edge @ 1,6145.
