GBPUSD trend following buy at support
Updated
GBPUSD is trending up since end of sept, the retracement began last Wednesday all they way down to 0.618 support zone. Yesterday there was stop loss hunting at US session, the price strike previous high then pulled up, I'll place a buy order according to the information that market gave.
chart is telling:
1. Bullish momentum overtakes bearish
2. clear support zone overlaps 0.618 fibo level
3. retracement momentum is weak
4. stop loss order is hunted
Entry: 1.09920
SL: swing low 1.09214
Target: riding the wave, take partial profit at target labeled and trail the structure
chart is telling:
1. Bullish momentum overtakes bearish
2. clear support zone overlaps 0.618 fibo level
3. retracement momentum is weak
4. stop loss order is hunted
Entry: 1.09920
SL: swing low 1.09214
Target: riding the wave, take partial profit at target labeled and trail the structure
Order cancelled
it went north without picking my order, i'll wait for the next setup
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