gremic
Short

SHORT AND LONG ENTRIES

FX_IDC:GBPUSD   British Pound / U.S. Dollar
ENTRY 1 AND ENTRY 2 HIGHLIGHTED BELOW (SHORT THEN A LONG ENTRY).

ENTRY 1 IS THE FOCUS FOR THE COMING WEEK.

WE HAVE ROOM TO WATCH IF THIS WILL PROVIDE A POINT OF VALUE TO ENTER THE MARKET.

THE 1 AND 4 HR TIMEFRAMES ARE SHOWING PRICE SITTING ON THE RESPECTIVE 50 EMA'S, ACTING AS DYNAMIC SUPPORT.

THE DOWNWARDS DAILY CHANNEL HAS BEEN IDENTIFIED, WITH DAILY PRICE TESTING THE UPPER SIDE OF THE CHANNEL.

WATCHING FOR A BREAK OUT TO THE UPSIDE TO THE POINT OF VALUE. FOR PRICE TO GO HIGHER THE 50 EMA AND THE PREVIOUS HIGH MUST BE BREACHED.

ALLOW PLENTY OF ROOM FOR THE STOP, DON'T CHOKE THE TRADE. DON'T GET GREEDY

LET'S SEE HOW WE DO..
Comment: ignore the idea.
WEEKLY CHART 50 EMA IS THE TARGET.

ONCE WE GET TO THE 50 EMA I WOULD BE LOOKING FOR A SHORT ENTRY.

THIS WOULD KEEP US IN LINE WITH THE OVERALL DOWN TREND ON THE PAIR.

NEW IDEA POSTED, PLENTY OF TIME UNTIL ENTRY POINT..
Order cancelled

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