The808Trader

More GBP Strength? - GBP/USD Ichimoku Long Trade Setup

Long
FX:GBPUSD   British Pound / U.S. Dollar
We've got a little bit of a gap up here and I'm looking for a chance to buy on a slight drop.

I've drawn my entry line at a potential support area that I'm looking for a drop to as well as support to hold to help confirm it's time to keep buying this pair.

You can see my price structure that I'm setting as a take profit left on the left side of the screen.

I'm setting my potential stop loss down at a flat kumo level that's acted as resistance in the past.

If we fail to drop and hold support, this setup may become invalidated. 

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.