GBPUSD > 10/8-13/17 Trade Analysis
Timeframe: 1W
Expecting further decline toward 1.2975 level. Firm break and hold below suggest possible decline toward major support level @ 1.2773 in longer term.
Strong bearish downtrend signals causing concern for possible trend reversal in medium term.
A firm break and hold below 1.2773 will serve as confirmation that bearish trend may continue, but firm break and hold above this level would serve as confirmation that bearish trend is complete and would expect bullish trend to return in longer term.
A firm break and hold above minor resistance level @ 1.3221/25 would serve as important signal to bullish rebound.
(1.1946 should show as 2016 High)
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Timeframe: 1W
Expecting further decline toward 1.2975 level. Firm break and hold below suggest possible decline toward major support level @ 1.2773 in longer term.
Strong bearish downtrend signals causing concern for possible trend reversal in medium term.
A firm break and hold below 1.2773 will serve as confirmation that bearish trend may continue, but firm break and hold above this level would serve as confirmation that bearish trend is complete and would expect bullish trend to return in longer term.
A firm break and hold above minor resistance level @ 1.3221/25 would serve as important signal to bullish rebound.
(1.1946 should show as 2016 High)
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Note
SELL Stop Order placedEntry @ 1.31489
T/P @ 1.29824
S/L @ 1.33154
Total Target = 166.5 pips
Trade active
Note
In Downtrend from 1.3135 support. Expecting correction to 1.3236 level.Expecting Downtrend to continue toward 1.2932 support.
Note
T/P changed to 1.28236Note
T/P 1 @ 1.30726T/P 2 @ 1.30287
Note
Longterm T/P @ 1.29752Note
2nd SELL Order Entry placedEntry @ 1.32398
T/P @ 1.30266
Target = 213.2 pips
Trade active
Note
T/P @ 1.30266 / both tradesNote
Key support @ 1.3250 broken. Next support @ 1.3150Note
Meant key support @ 1.3220Note
Bearish Triangle appearing @ 1.3154 - will see what happensTrade closed manually
Trades closed @ 1.31247Total P/L = +139.3 PIPS
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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.
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.