The Pound has triggered a bottom signal, in both the daily and weekly timeframe, right after seeing the 1st rate hike across developed nations since the Pandemic started. Weekly charts point to a rally towards 1.3875 within the next 11 weeks, and the daily chart has a buy signal right here. I'm long with a stop below 1.31625, aiming to capture the weekly move here, if possible. Don't risk over 1% in the position, I'd say. Calculate the sizing carefully. Risk management is key to stay in the game until we strike gold with a good trade.
Cheers,
Ivan Labrie.
Cheers,
Ivan Labrie.
Trade closed: stop reached
this one was stopped
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Related publications
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.