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andy91kay
Jun 13, 2019 12:45 AM

GBPUSD - Long Position Long

British Pound/U.S. DollarFXCM

Description

Price is ranging between support and resistance.

The price clearly bounced off support twice before ranging. This is on the 4 hr TF.

Moving down to the 1 hr TF, the price has now bounced off the ranges' support and heading up.

Long this position and close trade before it reaches the range's resistance.

After this setup plays out, a break of the range resistance would open a long position again, and a rejection from the resistance would open a short position.
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