Our favorite signals are with trend "stacked" signals which means we observe confluence or multiple cases for entry. We see that here with a long signal on the 6BU2020 2H that has triple relevance.
#1 - Extreme Turn Buy
#2 - Close to upward sloping T-Line (233 EMA)
#3 - Structure relevance (potential support) looking left.
We're long the 6B futures contract...
Hi friends
the daily chart of this market will experience with a very high probability a downtrend in the next few days but at the same time it is better to be vigilant of the change towards the opposite direction of the market
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I recommend to trade the 6B (GBP/USD) at the triangle's breakout, while keeping an eye on the supports and resistances; as they represent targets/Pullback points.
Buyers have passed important sellers zone near 1.2400 with significant volume. Range near 1.2400 is the nearest magnet now. Once retested and rejected we can consider longs with the final target near 1.26500. Note 1.23500 range has to hold to keep structure valid.
The first july announces the end of the downtrend starting in early June, so we have a hight probability to going testing the 1.2530 in the first time, and if we break the 1.2550 we can go much higher, first Target : 1.2560, second Target: 1.2950
