cashmachine01
Long

GBPUSD Looking Both Ways before crossing the street

FX:GBPUSD   British Pound/U.S. Dollar
25 0 3
On the GBPUSD             I am looking for a bounce on the bottom of the channel or a breakout.

Looking at the bull wave there is a wave 1, 2, extended 3. This pullback could be a wave 4 and the bounce a 5.

Longer time frame shows a likely bullish continued move back to the trend line resistance area.

Either way I am looking to add to my buy position at the channel support or close the long position and move to a short position if a breakout occurs of the channel.

This is for my trade journal only. Use your own system and good money management.

*Ignore the sell the breakout to the left that was related to the previous move.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out