GBPUSD profit target reached perfectly, prepare to buy
Buy above 1.3043. Stop loss at 1.3010. Take profit at 1.3120.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We prepare to buy above major support at 1.3043 (Fibonacci extension, horizontal swing low support) for a corrective bounce first to 1.3120 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing major support at 0.5% where we expect a corresponding bounce from.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We prepare to buy above major support at 1.3043 (Fibonacci extension, horizontal swing low support) for a corrective bounce first to 1.3120 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing major support at 0.5% where we expect a corresponding bounce from.
Trade closed: target reached:
What a fantastic way to end the weekend ;) Pips in our pockets to go buy burgers with. For some others, maybe you can go buy a filet mignon lol. Always remember to withdraw some of your profits to treat your family. Tell them that this meal is being paid through money earned from trading. That way, you can see, smell and eat the dream!
Peace out guys.
Peace out guys.