GBPUSD 4H long
This setup was not interesting for me last week but this week it is.
The trend reached a weak and small demand zone so that's not interesting.
But given all the price action for the last 2 weeks arround this level it makes it a stronger support level.
Especially the strong bear candle so people ( including me ) think this will go bearish.
Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets.
Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle.
That is a bullish sign for me so I entered :)
There is off course US elections so high impact news but I will take that risk. The setup looks solid.
The trend reached a weak and small demand zone so that's not interesting.
But given all the price action for the last 2 weeks arround this level it makes it a stronger support level.
Especially the strong bear candle so people ( including me ) think this will go bearish.
Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets.
Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle.
That is a bullish sign for me so I entered :)
There is off course US elections so high impact news but I will take that risk. The setup looks solid.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.