GBPUSD Long - Trend Analysis
The Chart shows a trendline connecting consistently higher highs starting from April (in the daily chart). and two lines showing a resistance, the previous high observed near the end of February.
The Entry trigger was double bottom observed in the 4-hour timeframe with some bullish confirmation, close to the mentioned trendline.
Stop loss put in place considering Support Level A and the trendline. Take profit at the close of the previous high, which has provided some resistance in the past.
Comments Welcome!
The Entry trigger was double bottom observed in the 4-hour timeframe with some bullish confirmation, close to the mentioned trendline.
Stop loss put in place considering Support Level A and the trendline. Take profit at the close of the previous high, which has provided some resistance in the past.
Comments Welcome!
Trade closed: target reached
Seems my profit targets were set a few pips too high. I'll keep the trade open and see how it plays out. Do I still get to consider this a "Winning Trade"? XD
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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.