GBP/USD Trend Following Idea

FX:GBPUSD   British Pound / U.S. Dollar
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
Trade closed: stop reached
Sorry for the chart, but I don't know why, when I saved the chart the trend line was moved.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out