possible buy setup on GBPUSD
AO showing divergence,price attempting 1.20500 psychological level,price printed a bullish engulfing candle,price broke above a supply....entry is the failed supply zone........i believe this to be a retracement..care your money management....
Trade active
this signal has over 6 confluences and should hold1) AO made bullish Divergence
2) AO crossed above zero line
3) Price printed Bullish engulfing close to 1:20500 psychological level
4)price reacting to 1:20500 psychological level
5)Price broke past a supply formation
6) Price created a Demand formation around 1:20500
entry Point is 1:20500
Trade closed manually
it has been almost two hours since this trade and the market is still in one place...i had to close since it is just the beginning of the week..i suppose many traders aren't trading so there is low momentum.....lets hope price continue to rally around 1:20500 till tomorrow
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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.