Trade Idea

[DRA]

Going with the current daily trend, I like the pound long at this level. Long entry confirmed by the break and now a test of the counter down trend line on the 1H.

[King Of Aces]

Going with the current daily trend, I like the pound long at this level. Long entry confirmed by the break and now a test of the counter down trend line on the 1H.

I am long as well...

looking for 1.63

[King Of Aces]

Looking sweet...stop is at break even already but looking for at least 1.6315

[ForexNinja]

Soooo what happened?

[DRA]

What happened was a great trade. Market rallied to fib. extension 127 as expected.

[King Of Aces]

What happened was a great trade. Market rallied to fib. extension 127 as expected.

I banked lol....

[DRA]

A good opportunity to short as the bears should be active again at the 61.8 fib, retracement.

[DRA]

Daily chart showing a break and test of the up trend line followed by an engulfing bearish candle. My short-term bias is short. Chances are the market will pull back to test previous support(128.50)
1H chart showing a break of the counter up trend line and a retest at fibonacci 61.8.

[DRA]

It seems we are in for a turn around here base on the previous daily bearish candle. It formed after a test of the fib 61.8 from the last daily swing and past support which is now resistance. If this level doesnt hold I'm looking to short again above this formation after the Gartley pattern is completed at 4. See chart attached.

[DRA]

It seems we are in for a turn around here base on the previous daily bearish candle. It formed after a test of the fib 61.8 from the last daily swing and past support which is now resistance. If this level doesnt hold I'm looking to short again above this formation after the Gartley pattern is completed at 4. See chart attached.

The market break through both levels and also breaks the outer down trend line. My long term bias remains short, I will be looking for short term long entries seen that we are now in the buy zone of the broken trend line.