Long position on GBPPLN. We saw false breakout from trendline on D1. What is more on H4 we see pullback to short term trendline broken yesterday
GBPPLN Long Scalp. 100x leverage. SL is liquidation. TPs on the chart.
GBPPLN Short Scalp. 100x leverage. Targets on the chart. SL is liquidation.
This analysis is based on Cap & Handle pattern which can be drawn as shown with dotted lines, plus Fib extension target measured from the start of the new trend. Reaching 5.8 PLN per GBP is quite possible seeing the recent drop has now reached resistance level and 50% drop of the price rise, s/l below 75% would be a good idea, protect your capital is always a good...
- BUY - Price rejected several times at support with several wicks - Price to break resistance trendline
Outlook could be both positive and negative (NEUTRAL), pricing shows now is not a bad time to convert GBP to PLN as we are at a neutral position in the market. Scenario 1 - It could break higher but has some tough resistance to break through first, including breaking out of its current range Scenario 2 - It could bounce back lower, keeping in its current...
Gaining a Little confidence in my education/strategy, gunna try this out. Please give feedack if you have it.
We have had an impulsive move to the upside. Thus we need to wait for a correction back into a key level. Need to see 4hr rejections come from this level then I will be taking a long trade. SL at the invalidation level which is below the recent swing low. Target retesting the high and some continuation. Solid RR on this trade.
The rend has been broken and we are looking at possible targets confirmed by levels of t/p measured using symmetrical triangle pattern and fib level as t/p 2 FOREXCOM:GBPNOK [/symbol ]
Expect prices to hit 5.00429 level on the pullback then go up
Simply a Bearish Shark idea for this pair.