GBPUSD > 10/8-13/17 Trade Analysis
Timeframe: 1W
Expecting further decline toward 1.2975 level. Firm break and hold below suggest possible decline toward major support level @ 1.2773 in longer term.
Strong bearish downtrend signals causing concern for possible trend reversal in medium term.
A firm break and hold below 1.2773 will serve as confirmation that bearish trend may continue, but firm break and hold above this level would serve as confirmation that bearish trend is complete and would expect bullish trend to return in longer term.
A firm break and hold above minor resistance level @ 1.3221/25 would serve as important signal to bullish rebound.
(1.1946 should show as 2016 High)
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Timeframe: 1W
Expecting further decline toward 1.2975 level. Firm break and hold below suggest possible decline toward major support level @ 1.2773 in longer term.
Strong bearish downtrend signals causing concern for possible trend reversal in medium term.
A firm break and hold below 1.2773 will serve as confirmation that bearish trend may continue, but firm break and hold above this level would serve as confirmation that bearish trend is complete and would expect bullish trend to return in longer term.
A firm break and hold above minor resistance level @ 1.3221/25 would serve as important signal to bullish rebound.
(1.1946 should show as 2016 High)
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Trade active
Comment:
In Downtrend from 1.3135 support. Expecting correction to 1.3236 level.
Expecting Downtrend to continue toward 1.2932 support.
Expecting Downtrend to continue toward 1.2932 support.
Comment:
T/P changed to 1.28236
Comment:
T/P 1 @ 1.30726
T/P 2 @ 1.30287
T/P 2 @ 1.30287
Comment:
Longterm T/P @ 1.29752
Comment:
2nd SELL Order Entry placed
Entry @ 1.32398
T/P @ 1.30266
Target = 213.2 pips
Entry @ 1.32398
T/P @ 1.30266
Target = 213.2 pips
Trade active
Comment:
T/P @ 1.30266 / both trades
Comment:
Key support @ 1.3250 broken. Next support @ 1.3150
Comment:
Meant key support @ 1.3220
Comment:
Bearish Triangle appearing @ 1.3154 - will see what happens
Trade closed manually:
Trades closed @ 1.31247
Total P/L = +139.3 PIPS
Total P/L = +139.3 PIPS
Entry @ 1.31489
T/P @ 1.29824
S/L @ 1.33154
Total Target = 166.5 pips