Pound has been moving strong but without any real long-term direction. We are approaching another key lever which is around 1.3175, it is also a 61.8 fib retracement level from previous bull run and the one before, seems like everything is lining up for a bullish run through the resistance we have touched yesterday. But also if we go below this level, we could see bears taking over and smashing the support 1.3050,... Ok, let's take it easy 1.3050 support is holding very strong with weekly confluences as well but if the 1.3150-1.3175 level wont hold we can expect at least a touch of 1.3050. Just wanted to give you guys a quick recap of what is happening, we don't have a trade yet, price action will determine nice entries but first, as said before lets see what price does around 1.3175.
Comment:
Pound has chosen to start dancing around 1.3150 - fibonacci 78.6 level so everything written above should be applied to this level. Price action tools on the way!
Trade active:
I know you guys are here to make so money so lets get a little bit aggresive with a couple of short term scalping trades. Open sell positions with stop loss at 1.3182
Comment:
Close half of the positions with 8-10pips profit and the rest put on brake-even with next target at 1.3150. Now that you made some money stay patient with me and we will capture longer term momentum.
Trade closed: target reached
Trade closed: target reached:
How about that quick move to profit target, we just banked 80+ pips profit! We are staying alert for the next 12hours which will determine next moves. Currently we have a potential buy on our radar but not confirmed yet. Great day everyone!
