JICPT|GBPUSD multiple timeframe trading idea!
Hello everyone. GBPUSD started to got my attention on the weekly chart as it reached my long-term MA(red colour) and 50% fib retracement.
So what's the trend on the weekly? Depending the period. Take a big picture, it's still in the bullish uptrend.
On the daily chart, however, we can see the downtrend channel got well respected. So, waiting for signals. Don't jump in to long.
On the 4H chart, I didn't see the trend reversal. As we know, trend started to change from small timeframes.
My trading plan is as below:
Bullish long setup: see signals on 4H and daily. Jump in for the pullback
Bearish short setup: daily downtrend continues with weekly key level taken out firmly. The next solid layer is 500pts away. We follow the trend and seek entry opportunities afterwards.
What do you think of my trade plan? Give me a like if you're with me.
Thank you for your support.
So what's the trend on the weekly? Depending the period. Take a big picture, it's still in the bullish uptrend.
On the daily chart, however, we can see the downtrend channel got well respected. So, waiting for signals. Don't jump in to long.
On the 4H chart, I didn't see the trend reversal. As we know, trend started to change from small timeframes.
My trading plan is as below:
Bullish long setup: see signals on 4H and daily. Jump in for the pullback
Bearish short setup: daily downtrend continues with weekly key level taken out firmly. The next solid layer is 500pts away. We follow the trend and seek entry opportunities afterwards.
What do you think of my trade plan? Give me a like if you're with me.
Thank you for your support.
Comment:
Yep. We got the downtrend penetrated
Comment:
I think pullback has finished. GBPUSD should start rally
plan your trade and trade your plan