GBPUSD short term buy incoming
Slightly different set up to my usual way of trading but this looks to be a nice short-term buy to get into. I normally prefer a higher timeframe trade on the 4hr and daily chart as it shows a much bigger picture of how price is doing.
However, on the 1hr we can clearly see this is currently a bullish run up. We have broken a nice level of rejection and now price has pulled back allowing us to add in a fib. You can see the 50% fib lines up almost perfectly with this rejection level giving us a good indication that price should react off this level and continue it's run.
If you have any questions, drop me a message.
However, on the 1hr we can clearly see this is currently a bullish run up. We have broken a nice level of rejection and now price has pulled back allowing us to add in a fib. You can see the 50% fib lines up almost perfectly with this rejection level giving us a good indication that price should react off this level and continue it's run.
If you have any questions, drop me a message.
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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.