On the weekly timeframe we have seen a a double bottom formation at large which it took about 4 years to form and also on recent price. I have identified the double bottom neckline on recent price. A decent close above that zone can be a good confirmation to go long in which the first target should be the previous double top neckline formed around 2017/2018 since price did not come back to retest the neckline or anywhere close to that region. In conclusion, the odds of seeing the bulls take charge of this market is very high and may surely favor long term buys.
This trade idea is for traders who can hold their positions for very long periods of time and are patient for it to play out. Please consider checking lower timeframes to know where to place your entries, take profit and stop loss.
This trade idea is for traders who can hold their positions for very long periods of time and are patient for it to play out. Please consider checking lower timeframes to know where to place your entries, take profit and stop loss.
Sorry for that error.
I meant GBPUSD
Thank you