Order
AUDUSD Long Pullback in direction of trendprice is starting to consolidate inside a daily demand level while we have been in an uptrend. I'm looking for PA (price action: order flow)to confirm this level and see a couple of bigger bars to the upside. As institutions confirm this level then looking for profit targets @ the previous highs.
GBPUSD Order, long 4HOrder for a long position on GBPUSD. The pair has proven to accept the fibonacci levels, and as such I will enter a position on fibonacci 61.8, formed from the uptrend from February to March, and target fibonacci 76.4, formed from the downtrend in March-April. The SL will be below the previous low, which is also below the strong support which was formed in 2002. The support has also been respected three times, rejecting the price from moving through. And as such it is reasonable to believe that it would be respected again.
Order:
Entry: 1.4100
SL: 1.399
TP: 1.438
Risk/Reward: 2.55.
Ringfence orders on EURUSD 4H => EURUSD has been trading in a tight range for 16-20 hours
=> Although the 10/50 EMA crossover indicates a change in direction
on the upside, the ringfence aims to capture either eventuality
=> I am only cautious about how tight the order entries are to the
current price, but will wait it out