Classic swing trade. Pullback vs. a rising MA. Entering long @ 13803 SL 13560 TP 14500
As the trend is extended and we are approaching debt ceiling deadline we will use a 2 bar trailing stop loss until BE then the usual 3 ATR trailing stop.
After completing the down move seems GBP now is reversing to upside. We just exited a long trade for a nice profit and now entering to the long side. Entry from 15M. Entry 1.3850 SL 1.3815 target 1.3920
GBP is on a confirmed downtrend on the 1H, after the initial drop we have a second level now. Trade taken from the 15M. Entry short 1.3920, stop 1.3945 target 1.38
After the strong up trend the momentum slowed down and made bearish divergence. However i only enter divergence if it is double top/bottom after a strong trend. First opportunity to enter was on a classic swing swing around the 50 MA after momentum slowdown. I then added 2 more positions on swing trades after reversals. All positions exited at 107.7 for total...
After a strong up move momentum slowed down with bearish divergence. However I dont enter bearish divergence unless its double top/bottom. First opportunity to short was a classic swing around 50 MA. Added two more positions on swings pullback. All out at 1107.70 for total of 8.6R profit. Now playing the last potential leg down to at least retest the previous low....
NQ is setting up for a potential trend continuation long trade. After making the first leg from a low of 12609.75 to a high of 14059.50 then making a deep correction, it attempted to break that high but failed in the intial go with slowing at the second top then found support at 13700 and seems now going for a second try. Target is at 14550 giving us around 1:3 RR
