GBPUSD Long Trade *FIBONACCI AND TRENDLINE COMBO*
Updated
Simple 4hr trend continuation on the GBPUSD FX currency pair. This is similar to the set up on GJ I have already shared.
Weekly/Daily Bullish trendline has been respected with a bounce.
4hr timeframe is making new higher highs and higher lows. I looking to enter long on the bounce off the 4hr bullish TL and Fib 0.618 level as the overlap.
I will be targeting the Fib 1.618 extension level but there is a bearish trendline to watch out for. Hopefully this breaks.
Weekly/Daily Bullish trendline has been respected with a bounce.
4hr timeframe is making new higher highs and higher lows. I looking to enter long on the bounce off the 4hr bullish TL and Fib 0.618 level as the overlap.
I will be targeting the Fib 1.618 extension level but there is a bearish trendline to watch out for. Hopefully this breaks.
Trade active
Entered long at 1.30820 as planned.Trade closed manually
Moved to breakeven at 42pips and price then reversed. No loss of capital but this trade is no longer valid
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