Sitting down here at 8:00 p.m. EST and looking at GBP/USD. Just went long 3 units @1.652 with a target just below the R2 pivot level @1.6725 set my stop just below last broken resistance swing @1.6428. Trade is going against me at the moment. My thinking on this is we are in the third retrace of a uptrend. I am seeing higher lows and higher highs on 15 min chart. Also have 4 waves of MACD divergence. On the 1 hour chart I haven't got a higher high yet but have established a higher low. Actually right now there is a double top right at my entry of 1.652. Caught this one late but I really don't want to miss the boat on it so I went long. Stops are set and targets are documented. We will see where this takes us.
15 Minute
1 Hour
No comments:
Post a Comment