A possible good sell on GBPUSD
Long story short: The two trend lines encompassing this tight range/flag can be good entry points.
I know, I know GBPUSD is having a massive uptrend. I don't care! I am focused on profits! Pure profits! Through scalping & long term trading as well. In this case, if the price breaks below the lower trend line, this could be a decent scalping sell trade.
If the price does break below the lower trend line, you can wait for the price to come back up to it and just kiss from below and enter there with a sell entry.
A third possibility is also that the price may keep going upwards up to the upper trend line, kiss it, and then turn downwards for a move downward for some time. If that happens, I would how the price gets rejected from the upper trend line.
Remember: Nothing works all the time. All we do here in this game of Forex trading is we invest/decide on the basis of the most probable next move. It may or may not work, but we simply go ahead and take the plunge, but we do have out life-jacket on!
If it goes "that way," it goes, & we benefit from it as much as possible. If doesn't, it doesn't. It's as simple as that. (The long story got longer, somehow! :-) )
I know, I know GBPUSD is having a massive uptrend. I don't care! I am focused on profits! Pure profits! Through scalping & long term trading as well. In this case, if the price breaks below the lower trend line, this could be a decent scalping sell trade.
If the price does break below the lower trend line, you can wait for the price to come back up to it and just kiss from below and enter there with a sell entry.
A third possibility is also that the price may keep going upwards up to the upper trend line, kiss it, and then turn downwards for a move downward for some time. If that happens, I would how the price gets rejected from the upper trend line.
Remember: Nothing works all the time. All we do here in this game of Forex trading is we invest/decide on the basis of the most probable next move. It may or may not work, but we simply go ahead and take the plunge, but we do have out life-jacket on!
If it goes "that way," it goes, & we benefit from it as much as possible. If doesn't, it doesn't. It's as simple as that. (The long story got longer, somehow! :-) )
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