Timing is key

Anticipating a breach of sliding parallel on GU60!

FX:GBPUSD   British Pound / U.S. Dollar
234 1 5
Idea: Simple long trade on breach of sliding parallel!

We have two downward sloping median lines where price has met support and then cleared out the previous high. I am using a special "mini" median line based on the closing price and a 5 day moving average for the entry. My logical target is the apposing white dashed median line .

Please Note: if my entry is not triggered in this hour I will slide my entry point down along the sliding parallel until either my entry is triggered or if it drops down past my stop loss ( before entry activation ) I will cancel trade and re-evaluate.


Target reached! This was a counter trend trade as I expect more downside for the GU


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