GBPUSD - Closer look on a working trade
The prior chart speaks for it self.
This chart is a closer look to the current situation.
Price closed below the L-MLH = It's going to the next extreme.
On a higher scale, this would be a drop from the Blue centerline with target to the Blue L-MLH.
But be careful: I see price got pressed.
And the bulls holding it up, what leads to this small triangle, resulting in momentum.
Pressings very often the not get smacked!
It would create the potential to test/retest the white MLH or even the blue CL, before fulfilling it's job, going south to the blue L-MLH where my target (green) would be.
Managing my trade in the prior chart and looking for a opportunity to load up in this one.
This chart is a closer look to the current situation.
Price closed below the L-MLH = It's going to the next extreme.
On a higher scale, this would be a drop from the Blue centerline with target to the Blue L-MLH.
But be careful: I see price got pressed.
And the bulls holding it up, what leads to this small triangle, resulting in momentum.
Pressings very often the not get smacked!
It would create the potential to test/retest the white MLH or even the blue CL, before fulfilling it's job, going south to the blue L-MLH where my target (green) would be.
Managing my trade in the prior chart and looking for a opportunity to load up in this one.
Trade closed: stop reached
Blue L-MLH is target.