Similar to my post in the other forum:
Long or Short: Long
Entry Point: Ideally 1.5791
Stop Loss: 1.5735
Profit Target/s: 1.585-1.5900 for this purpose but will try and swing trade the hypothetical uptrend.
Reward-to-risk Ratio: depends on swings but if long whole way , a huge reward to a low risk
After a big uptrend, then a big downtrend, macd, ma’s, bollingers, fibbs indicate a possible switch.
ENTRY:
looking at the current end of a downtrend, there was a bearsh signal which was combined with a macd crossover and a moving average crossover, uptrend possibly? check out the daily chart underneath
PROFITGOAL:
This chart with fibonacci retracement makes me hope it can’t close past 50% for the start of hopefully bullish new week what?
I went ahead and went long at 1.5791 and will be day trading that if this uptrend is true and if this can close with a possible bullish signal not crossing fib or a decent doji possibly.
BTW. my stoploss is bottom of the potential doji, 1.5735, which happens to be the bullish signal i pointed out in the first chart which is literally the same, 1.5732
Read more: http://forums.babypips.com/gbpusd/44697-join-me-my-trip-through-gbp-usd.html#ixzz1vLE8d48Q
