GBP/USD trend continuation (Long) trade based on the price action showing continued upward momentum:
- Dragonfly doji followed by hammer candle formation close on the 4H which indicate strong buying power from below.
- Price action has found support off 21EMA and failed to close below it.
- Price found support off 100 fib retracement point (1.5875)
- Price has placed a higher low in both 4H & 1H.
- Momentum and rhythm is extremely strong on the 1D / weekly and therefore would expect a retest of the recent highs & majoe 38.2 monthly retracement line)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment