USDCAD : Buy limit @ 1.4100 or 1.40800| Take profit: 1.4250 | Anticipated profit : 150
GBPUSD : Sell @ 1.2480 | Take profit : 1.2280 | Anticipated profit : 200 pips | Trailing stop :1000 points
EURUSD : Sell @ 1.0872 | Take profit : 1.0800 | Anticipated profit : 72 - 100 pips | Trailing stop :300 points
I follow GBP/USD closely.
The 1.2480 sell price target is way above where GBP/USD is now but does not mark a particular area of resistance. Is this price level identifiable from TA or is it just an ambition?
Tommor ,
It’s not an ambition.Rather, it’s an area of value. It’s best to identify trends on higher time frames and detect entry points on lower time frame.
If you can spare few moment to check the lower time frame on your chart you will agree with me that GBPUSD may make some correction to that price-point before continuing its downward journey.
Perhaps you have a different view point ,please feel free to share it.I’m willing to learn.
What do you see in your charts that suggests that price will probably rise to your sell level and that it will then probably fall to your TP?
On the lower timeframe , a channel has formed since last week. And prices has been swinging between those points. Also, the events below 200SMA on higher TF sends a message also. Remember the could be volatility before markets heads to its desired destination.
Meanwhile I don’t know it all. You can still correct me if I’m wrong.
Hi,
AUD/USD Price :
Long positions are 17.89% lower than yesterday and 21.61% lower from last week
Short positions are10.54% higher than yesterday and 17.09% higher from last week.