TRYGBP trade ideas
Opportunity of a life time... $GBPTRY$GBPTRY is also approaching the long term trendline. The oscillators are at oversold levels. In an uptrend, in combination with the other indicators RSI(14) at 40 levels always provide a good trading opportunity in the direction of the trend. Also, 61.8% retracement is corresponding exactly with the support level of the trendline.
If you check the historical behaviours of CCI and StochRSI, you will realize that these levels are also the levels where the currency changed the direction.
Of course, there is a possibility of the trendline to be broken. However, all these are signaling a low risk, high income opportunity trade.
I would definitely take a long position from 3.95 Targetting 4.25, 4.5 and new highs respectively, placing my stops under 3.93.
Breaking of the trendline on the other hand will put 3.70 in the target.
This is the kind of trading opportunity that gives you a great chance to make profit with a little risk. So, don't miss the chance...
Find more about this on www.ozguryilmazel.info
#GBPTRY: Bear Momentum to Be Seen At Action Level! #ForexTraders,
Likely momentum to be seen off of a nice action level, expecting some nice downside as we break the sideways consolidation off of the Fibonacci ratio confluence resistance ceiling.
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Best of luck,
Tom
GBPTRYDivergence going on 4h, 8h with double bottom on the 0.5 retracement of last move.
Will that be enough for some long ? ...
Trade your plan
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GBPTRY WOLFE WAVES AND AB=CD PATTERN ON MONTHLY CHARTGBPTRY WOLFE WAVES AND AB=CD PATTERN ON MONTHLY CHART
GBPTRY WEAKLY BUY SETUP - BULLISH AB=CDGBPTRY WEAKLY BUY SETUP - BULLISH AB=CD ALSO RSI DIVERGENCE CONFIRMATION
TRYGBP bearish Gartely supported by long term resistanceCD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point .
Stop loss is based on previous structure support as shown by the horizontal red line.
Not only is this a nice Gartely, but we also have the entrance point on the line of long term resistance , as shown by the black line (zoom out to see more). For this reason, we may see a much larger drop than the initial price targets.
RSI is nearing an overbought state.
