This is my analysis and trading plan on GBPUSD i'm looking to long/buy from the 61.80 FIB retracement where the buy is indicated with several confirmations.
1. First confirmation with the double top formed at the area of resistance indicated with the two red arrow and fib rejection of 0.00 going for a short/sell down to 61.80 FIB to find a support before pushing back up.
2. Second confirmation, i never go against the trend because the trend is bullish so i wait for a clear bullish confirmation to go long.
I welcome all comments, feedback, ideas and sharing of knowledge.
Have a great trading week!
P.S. (This is for educational purpose only. Thank You.)
1. First confirmation with the double top formed at the area of resistance indicated with the two red arrow and fib rejection of 0.00 going for a short/sell down to 61.80 FIB to find a support before pushing back up.
2. Second confirmation, i never go against the trend because the trend is bullish so i wait for a clear bullish confirmation to go long.
I welcome all comments, feedback, ideas and sharing of knowledge.
Have a great trading week!
P.S. (This is for educational purpose only. Thank You.)