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London

2019.12.16 London Daybreak Idea GBPUSDDue to the elections and the news of 9.30 AM London Time, I will certainly wait until the candle of 10-11 AM (London Time) closes to decide whether or not to join this trade. 46 pips StopLoss for 20 pips TakeProfit is also a bit on the high side. 2019.12.16 London Daybreak Idea GBPUSD GBPUSD Buy Stop entry 1.33952 SL: 1.33490 TP1: 1.34152 (20 pips) TP2: 1.34490 GBPUSD Sell Stop entry 1.33490 SL: 1.33952 TP1: 1.33290 (20 pips) TP2: 1.32940 Risk management max. 3% SL= -46 pips ==> 0.01 lot per 200 $/€
by josappe
GBPUSD Daily PredictionPrice formed a double top on the weekly in the 79,70,62 area fib reversal zone. it is currently in a bullish trend so higher lowers and higher highs are expected. the neckline would have to get respected so wait for break of double top neckline for entry. upon confirmation candle, that bullish leg would need to gain more momentum to continue up. after every high is a low, so we run our fibs from the start of the bullish push to the end when price starts consolidating. the next higher low is expected to form off the 62 daily fib. which is a previous strong supply and demand zone, and it also falls on a the 1.25000 half point. ema crossing as well. and trend line is hoping to get respected. alot of confluence here
Long
by theyngn