GBPUSD Howdy All,
I strictly trade technical analysis! Here's is the current set up I'm waiting for. I'm looking for some re-tracement before entering for a sell . As always I'll wait for price to reach the area of my Fair Value Gap and see how it reacts. Ideally, price will begin to wick and show rejection around 1.245 area before I'm comfortable selling.
I'm seeing support of 1.235, 1.221 and 1.207. If price can retrace to where my green box(FVG) is then my SL will be 1.252. Happy new year to all!
Trade active
Price hasn't exactly gotten to the 1.245 area for an entry and looks like it's floating around the .382 area on the Fibonacci retracement tool and just 10 pips away for .5. Markets are closed but interested in seeing where price ends up Monday morning EST.Note
Price created a new low at 1.257 which is about 30 pips lower than the previous high. Price has also created a brand new low at 1.232. I wasn't able to enter this trade using Fair Value Gap but I entered at 1.250 with my SL at the previous high due to obvious down trend and failure to sweep the previous high.
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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.