Long GBP/USD for ~300 pips at a risk of ~120 pips
This is a textbook pattern of higher highs and higher lows. GPU/USD has found support at the central pivot point. If the price action respects this level because it is 1) a Monthly central pivot and 2) Previous Resistance, then it should go up to Monthly R1, approximately 300 pips of profit with a risk of ~120 pips.
Note: My system of 1) RSI-MA Cross or 2) 8,21 EMA Cross has not yet signaled. But if the price goes up, the RSI-MA Cros will be the first to give a signal. However, the above analysis and possible trade are purely based on price action, support, resistance, and pivot point trading.
Note: My system of 1) RSI-MA Cross or 2) 8,21 EMA Cross has not yet signaled. But if the price goes up, the RSI-MA Cros will be the first to give a signal. However, the above analysis and possible trade are purely based on price action, support, resistance, and pivot point trading.
Trade closed: stop reached
stop-loss triggered.
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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.
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.