Market Phase: The current situation in the cable is still Up-Trend
Last Action: The last significant move in the gbpusd is a Higher High created above the previous Higher high .
The truth about the trending market:
- A trend will continue in the same direction for as long as possible
- A trend will not change easily
- A move in the opposite direction of the trend is an opportunity to trade in the direction of the trend
- A trend will only change after a STRUCTURAL FAILURE.
Trade Approach & Execution:
Price has retraced to the 37.5% of the last action , We have now seen participation at this level.
Buy GBPUSD; When 1hr Candle Closes above 1.3153
Stop Loss: 1.3120
Target1: 1.34210 Fibonacci Target1{23.6%}
Target2: 1.35970 Fibonacci Target2{61.8%}
....................................
Trade with care.
Last Action: The last significant move in the gbpusd is a Higher High created above the previous Higher high .
The truth about the trending market:
- A trend will continue in the same direction for as long as possible
- A trend will not change easily
- A move in the opposite direction of the trend is an opportunity to trade in the direction of the trend
- A trend will only change after a STRUCTURAL FAILURE.
Trade Approach & Execution:
Price has retraced to the 37.5% of the last action , We have now seen participation at this level.
Buy GBPUSD; When 1hr Candle Closes above 1.3153
Stop Loss: 1.3120
Target1: 1.34210 Fibonacci Target1{23.6%}
Target2: 1.35970 Fibonacci Target2{61.8%}
....................................
Trade with care.
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