GBPSEK LONG - Buy Entry - H4 Chart
Buying at break of @ 12.72396
Symbol: GBPSEK
Timeframe: H4
Type: BUY
Entry Price: Buying at break of @ 12.72396
Major Resistance Becomes Support @ 12.72396
TP - Major Resistance @ 13.02877
TP - Major Resistance @ 12.85803
Major Support @ 12.57728
Major Support @ 12.61968
LIVE Analysis ON GBPSEK
GBPSEK is currently in a Weekly Supply nested inside Monthly Supply, although it isnt fresh sells are considered on lower timeframes with confirmation.
Reasons of taking the Trade :
- Broke Trendline
- Imbalance departure away from zone
- Broke mini opposing demand level
I previously stated I was expecting this to drop a bit more but it seems to have formed some support in the current area but it is at 0.382 FIb so that is fine. I recommend waiting for the MACD to show some more signs of bullishness and EMA's to cross or come very close to crossing before entering a long. TP is at -0.272 Fib and SL just below 0.5 Fib as shown on the chart
GBPSEK Forex cross pair forecast is bullish.
With a strong monthly demand imbalance in an uptrend gaining control around 11.600. In a uptrend, only buying GBPSEK Forex cross pair is possible. Monthly uptrend, monthly demand imbalance in control, no shorts are allowed. We do not need any indicators to tell us that we can go long on GBPSEK since there is a clear...
GBPSEK Sell Trade Idea: Openned A Sell Trade Here, Downward Moving Anticipated To Continue. SL: 11.46 and TP: 11.00.... Happy Trading Best Of Luck.... You Can Enter Here Or Wait For A Pullback
Expecting this market to test the 11.78 area since short term momentum indicators are weakening that suggest for a possible upside, looking for buys here for the said target.
