GBPUSD 1.30482 - 0.71 % LONG IDEA * TREND CONTINUATION STRUCTURE
Updated
Good Day Everyone
Here's my idea on the GBPUSD pair from multiple time-frames
* starting of with the monthly we see the pair is respecting the BAT/HARMONIC pattern we saw a rally of the bull pushed through the 61.8% Fibonacci level with a strong bullish candle looks like the pair was correcting this move upon close this past week but we are at the beginning of the month so definitely looking for a push up from the pair. either ways from the monthly we are still net long on the pair..
* coming down to the weekly there is a possible confirmation of the correction we spoke about on the monthly as we are trading in a descending channel and we are currently at the roof of this structure looking for a rejection to confirm this correction before we see continuation to the upside looking for a retest of support level 1.28178. then looking for a continuation to the upside
* from the daily we see a completion of the 1234 move again confirming that we are still in a uptrend looking for a push down to confirm this continuation to the upside with the trend. lets see how it goes..
GOOD LUCK AND HAPPY TRADING EVERYONE
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ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
* THE IDEA IS PREDICTIVE BASED ON TECHNICAL ANALYSIS MANY FACTORS GO INTO EXECUTING TRADES KINDLY TAKE CAUTION.
Here's my idea on the GBPUSD pair from multiple time-frames
* starting of with the monthly we see the pair is respecting the BAT/HARMONIC pattern we saw a rally of the bull pushed through the 61.8% Fibonacci level with a strong bullish candle looks like the pair was correcting this move upon close this past week but we are at the beginning of the month so definitely looking for a push up from the pair. either ways from the monthly we are still net long on the pair..
* coming down to the weekly there is a possible confirmation of the correction we spoke about on the monthly as we are trading in a descending channel and we are currently at the roof of this structure looking for a rejection to confirm this correction before we see continuation to the upside looking for a retest of support level 1.28178. then looking for a continuation to the upside
* from the daily we see a completion of the 1234 move again confirming that we are still in a uptrend looking for a push down to confirm this continuation to the upside with the trend. lets see how it goes..
GOOD LUCK AND HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
* THE IDEA IS PREDICTIVE BASED ON TECHNICAL ANALYSIS MANY FACTORS GO INTO EXECUTING TRADES KINDLY TAKE CAUTION.
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MONTHLY
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WEEKLYNote
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invest.com - Market participants will also be watching the dollar, which despite a rebound after Friday’s U.S. jobs report notched up its seventh straight weekly loss, the longest such streak in a decade. On the economic calendar, Thursday will bring the weekly jobless claims numbers, followed by retail sales figures for July on Friday. China is also to release a deluge of what will be closely watched economic data and earnings season will enter the final stretch. Here’s what you need to know to start your week.za.investing.com/news/economic-calendar--top-5-things-to-watch-this-week-2149055
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ADJUST YOUR SL AND HOLD RISK FREE
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