GBPUSD - Consolidation at Bottom of Channel - Pullback expected
*** Trade at your own risk! ***
*** Not every idea is also traded by us ***
Hi Traders!
The setup of the idea is that the price is at an Area of Confluence right now and that leads us to a Pullback.
It represents a Counter Trend Trade.
That leads us to the result, that the market might pull back in the near future.
Possibilities to enter:
- Enter at the Break of the Consolidation --> (no FOMO, but fearness of Fake-Out)
- Enter at the Retest of Break of Consolidation --> (safe(r) trade, but might miss it --> FOMO)
- Enter after Pullback of Break of Consolidation (that means, that price can get deep
into the consolidation again, before turning back up) --> (buying when others don't see it, need more confirmation for bullish Movement)
- Enter now and wait for the Breakout --> (guarantee of good price when Breakout, but possible to hit your SL before going)
Try to set your TP near to your entry.
The last most likely TP would be at the upper Channel-TL which confluences with
"Golden Zone" (Fib') and (low TF) Resistance.
If you would like to ask or comment something or if you'd like to share your view, then you're more than welcome!
Thanks and successful Trading :-)!
*** Not every idea is also traded by us ***
Hi Traders!
The setup of the idea is that the price is at an Area of Confluence right now and that leads us to a Pullback.
It represents a Counter Trend Trade.
- The Area of Confluence, where price consolidates, are...
- @ the weekly Support and
- @ the Bottom of the Channel and
- after a weaker getting down-movement.
That leads us to the result, that the market might pull back in the near future.
Possibilities to enter:
- Enter at the Break of the Consolidation --> (no FOMO, but fearness of Fake-Out)
- Enter at the Retest of Break of Consolidation --> (safe(r) trade, but might miss it --> FOMO)
- Enter after Pullback of Break of Consolidation (that means, that price can get deep
into the consolidation again, before turning back up) --> (buying when others don't see it, need more confirmation for bullish Movement)
- Enter now and wait for the Breakout --> (guarantee of good price when Breakout, but possible to hit your SL before going)
Try to set your TP near to your entry.
The last most likely TP would be at the upper Channel-TL which confluences with
"Golden Zone" (Fib') and (low TF) Resistance.
If you would like to ask or comment something or if you'd like to share your view, then you're more than welcome!
Thanks and successful Trading :-)!
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