Hello Traders! Today we have a very nice long setup on FX:GBPUSD It is a pure structure based buy opportunity. So I am waiting the price to go @1.5484 and retest the structure support and then go long all the way up until the next structure. Here we have very nice fibs condluence: 1. 38.2 right at the structure level; 2. 61.8 little below from structure. So this zone will be the reversal zone where price might reverse and rally up. As we see we have a very nice R/R as well. Avto_T Green Luck ----------------------------------------------------------------------------------- ATTENTION: Very soon, the best forex services will be available for you traders. Contests, bonuses, the so called “Big Deal” service, which you have never faced before and many more friendly and individual services. Please Click here for more information and reserve your seats my friends! Follow me and be the first to enter our world! Pre Launch Survey Fb Group Twitter
good chart. I think you could play that short for the next 4-8 hours and get 50 pips or more out of it, then get back in at your desired bullish level. Good chart though.
RCP
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Thanks! You are right, but the best way to get involved in short opportunity is, wait the price to break the flag.
JonnyLA
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Are you referring to the level, 1.55306 on your chart?
RCP
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Check this out: I see this level very nice for shorting
JonnyLA
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alright I'll take that into consideration. Normally I wait till the 3amEST. (1st hour of open) candle closes. Then I set a buy limit order 10 pips above the high and a sell 5 pips below the low, normally if one gets hit that the market sentiment and I'll get 50+ pips 4/6 trades on average. But, I'm trying to learn how to recognize the trend earlier, those extra 10 pips are a lot of money. Thanks for the input looking forward to todays trade.
RCP
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Yes you are absolutely right. One of the most important thing is to have your own edge, improve it time by time, and follow it every-time and everyday. Of course, every pip counts here.
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Something goes wrong here, you can click above in chart description
JonnyLA
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okay ill take a look and google it. Thanks
prisma
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What do you mean with "the 3amEST. (1st hour of open) candle closes"?
Trading starts at 17:00 (5pmEST) each day. Am I wrong here?
Are you referring to H1 charts?