Trade Plan (Pending): I am selling GBP/USD at 1.2600
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Trade Plan (Pending): I am selling GBP/USD at 1.2600 Although GBP/USD traded to the lowest level in 105 (trading) days yesterday buyers have emerged at 1.2427. This is the projected downside support for the AB leg in a daily Bat formation. A common retracement level for the BC leg is 38.2% of the last decline. This price point is located at 1.2605. Bespoke resistance is located at 1.2605. Moving down to the four-hour chart we have a 61.8% pullback level at 1.2602. Conclusion: there is ample scope for an upside correction. I look for 1.2602 and 1.2605 to cap buying interest. The medium-term focus remains bearish with the Bat formation not completing until 1.2138. I am looking to split this trade setup into two units. Selling at 1.2600 (Trigger valid until the close on Friday 19th April) SL: 1.2660 TP1: 1.2430 (R rate of 2.83) TP2: 1.2140 (R rate of 7.67)
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.