KPeykov
Long

GBP/USD Trend Following Idea

FX:GBPUSD   British Pound/U.S. Dollar
a year ago
Reasons for Trade:
1) Price is still above the Moving Averages
2) Price is still making Higher Lows
3) MACD crossed the Signal Line
4) Remembered Line is significant support at the 1.5540-60 levels (there was a strong break of this level and now a retest and a few days of consolidation)
5) Price found the 55 Day MA as support level also
6) Trend Line angle 30 degrees (For me a good trend line is a line with angle between 30-40 degrees)

I will wait for tomorrow MPC             Bank Rate Votes in order to trigger my trade.

1) ENTRY: Above the consolidation price around 1.5680
2) Stop Loss: Below the lows and 55 Day MA
3) Take Profit: at 1.6070 Yearly Pivot Point and next Resistance level after a break of 1.5900
a year ago
Trade closed: stop reached
KPeykov
a year ago
Sorry for the chart, but I don't know why, when I saved the chart the trend line was moved.
Reply
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