SKACAPITAL
Long

GBPUSD LONG SETUP SKACAPITAL

FX:GBPUSD   British Pound / U.S. Dollar
Have been saying for months that our target for GBPUS target is 1.6000. Price reached close to this level Mid June and late August.

However, we are all about risk management and safety within the markets. As you could see on the chart price has been rejected to the downside "DPR" 4 times. These 4 levels sit on the 61.8% retracement on the weekly time frame. Even though I believe this trade setup is long I always have a safety plan (Exit Plan). So if price breaks below 1.50750 then would look short to the down side highlighted red box (Careful of false breakout.)

However, As explained on the chart we have several upside targets. Day traders can gave multiple targets between current price and target 1. On the 4 Hour time frame we currently have a falling wedge representing a reversal to the upside in combination with oversold on the Stochastic on both the Daily and 4 hour time frame.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out