FX:GBPUSD   British Pound/U.S. Dollar
152 3 0
GBPUSD             setup on the 4h chart. We are approaching significant resistance, there is fibs confluence including a 38.2% retracement from the big drop of 2008, we also have RSI bearish divergence and an ABCD pattern completion on both daily and 4h charts. Feel free to sell at market or wait for further confirmation if you are more conservative. You may use a 1st target at the green line (1.6082). This is a trade where we can lose a little, or win a lot. That's how it should always be. Good luck

Best regards
JamesCorreia
3 years ago
My mistake, stops go to 1.6472, above structure.

Best regards
Reply
GU
3 years ago
indicator says it will go up a little.
Reply
JamesCorreia
3 years ago
It's possible, not an issue for me considering the size of the trade. Also, RSI already bearish and the last candle made a rejection of the recent minor structure. Of course it can still go up, never said that it couldn't. But according to my rules and my RR on this one, I'm ok taking the trade right now.

Best regards
Reply
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