GBPUSD_1st Week of Dec 2021
GBPUSD currently retest at RBS (Resistant become Support) level which we can see on monthly/weekly TF
Price also retest few times at Daily swing low trendline. The only confirmation of trend change is when the price break above the trendline and form a HH & HL structure
Using simple entry technique
Step 1:
Waiting for the price to break the correction trendline
Step 2:
Waiting for HH & HL structure (Best if the price retest at the break of structure level)
Step 3:
Entry point after 2 items above has fully satisfied with SL below the lowest candle. Use any indicator that suits you
Price also retest few times at Daily swing low trendline. The only confirmation of trend change is when the price break above the trendline and form a HH & HL structure
Using simple entry technique
Step 1:
Waiting for the price to break the correction trendline
Step 2:
Waiting for HH & HL structure (Best if the price retest at the break of structure level)
Step 3:
Entry point after 2 items above has fully satisfied with SL below the lowest candle. Use any indicator that suits you
Related publications
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.