This idea was inspired by one of the best trader in my book by Mansor Sapari, This technique involves called as "Fakeout V1" where price has made 2 Resistance level at simillar level of 1.26-ish. from 2nd last week and the last week of April 2020 and end up bullish candle appeased on the final day of April.
From my observation, if price keep going downward it may go to 1.23-ish price level, and spikes up to price level of 1.27 to 1.28 (refer to the yellow line drawn above) and possible we could have a nice decision on sell.
this idea might could be executed on the 2nd week of May 2020.
now what could go wrong?
this idea will be invalid, as price could stacks up higher and make a new higher high based on the arrow I've drawn (hope you can see the Higher Low & the Higher High), pay attention on the price action.
glhf. have a safe trade
From my observation, if price keep going downward it may go to 1.23-ish price level, and spikes up to price level of 1.27 to 1.28 (refer to the yellow line drawn above) and possible we could have a nice decision on sell.
this idea might could be executed on the 2nd week of May 2020.
now what could go wrong?
this idea will be invalid, as price could stacks up higher and make a new higher high based on the arrow I've drawn (hope you can see the Higher Low & the Higher High), pay attention on the price action.
glhf. have a safe trade
Note
2nd Week of May 2020GBP currency is building up it's Bullish steam, probably a good time to go long, keep eye peal on the retracement as it might touches 61.8 or the lower segment of 78.6
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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.