BEST PLACE TO OPEN BUY 1.1310 - 1.1290 ( BOTTOM OF BULLISH TRENDLINE AS WELL AS THE 38.2% FIB FROM THE 2016 HIGHS TO THE 2016 LOWS)
S/L @ 1.1260
USE SMALL LOT REMEMBER ANY PAIR WITH GBP IS STILL VERY RISKY ATM DUE TO THE BREXIT ISSUE
symmetrical triangle this pair might be trading between 111.0 - 108.0 range for the coming weeks until we break out and see a big move to those 2015 highs or down to the 2016 lows
imo i feel pretty bullish for now
Happy Trading ;)
Yesterday we saw the dollar weaken as a result this pair soared to those 1.1500 levels and we were brought back down due to that strong resistance zone where we were stuck all late last year. I believe that we will go back up break or at least test those levels again. Especially with NFP coming up tomorrow which imo will not be good for the dollar i really think...
wait for pull back down to our trend line/fib level. We should fill that wick that came to our fib level in the next couple hours. Not to confident we will break through that 109.85 level so i would take profits there.
New to the forex community just started real trading for about a month now so take this with a grain of salt. This is mostly to get feed back from experienced traders.
1. i see a possible IH&S forming
2. doji on last weeks candle
3. 38.2 fib retracement