Possible Trade in Progress - GBPMXN - LONG - #QuickPips #Forex
Hi Guys,
As usual, i'm posting my trade setups as i seem them occurring. I'm not in love with this current setup, but i think it has potential, so let's see how it all pans out.
Onto the TA:
We've currently at support at S1. As you can see it's been used historically as support via the green circle.
The Top Level Resistance is above, labelled R1, and if you pan left, you can see it's been used historically as support and resistance .
Line a represents our current downward trend line , this would need to break or we'll need to have sideways movement past the trendline a, before we could enter a trade LONG.
If the following happens, i will no longer place this trade:
Line a is still in play, i.e. price action remains beneath it
S1 breaks, and the price moves significantly below it.
Thank you for taking the time to read this,
For_The_Many
As usual, i'm posting my trade setups as i seem them occurring. I'm not in love with this current setup, but i think it has potential, so let's see how it all pans out.
Onto the TA:
We've currently at support at S1. As you can see it's been used historically as support via the green circle.
The Top Level Resistance is above, labelled R1, and if you pan left, you can see it's been used historically as support and resistance .
Line a represents our current downward trend line , this would need to break or we'll need to have sideways movement past the trendline a, before we could enter a trade LONG.
If the following happens, i will no longer place this trade:
Line a is still in play, i.e. price action remains beneath it
S1 breaks, and the price moves significantly below it.
Thank you for taking the time to read this,
For_The_Many