Good moring traders,
Normally we trade EURUSD but looking at GBPUSD chart, we found something interested that we would like to share with everyone.
Firstly, notice how price liquidated the previous low on Daily and weekly chart and then started rising with increased volume, suggesting that many traders trapped at the bottom and banks are temporarily buying GBPUSD to sell at premium
There is a volume increase along with the rising price and impulsive candle creating BOS giving us more confidence to buy GBPUSD at the area marked in the chart
We will keep everyone posted as price moves
Normally we trade EURUSD but looking at GBPUSD chart, we found something interested that we would like to share with everyone.
Firstly, notice how price liquidated the previous low on Daily and weekly chart and then started rising with increased volume, suggesting that many traders trapped at the bottom and banks are temporarily buying GBPUSD to sell at premium
There is a volume increase along with the rising price and impulsive candle creating BOS giving us more confidence to buy GBPUSD at the area marked in the chart
We will keep everyone posted as price moves
Trade closed: stop reached
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▶ Website - www.algotradinggroup.net
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