Yordan Kuzmanov
Private, 1st Class
- Messages
- 267
Looking forward to sell rallies in GBPUSD
Cable is trading higher again since yesterday due to the positive fundamental data. There is resistance around 1.6060/80 area along with band-to-band move and bearish hidden divergence on the H4. Our entry will be based on the combination of H4 hidden bearish + H1 basic divergence that has not yet been created. So on the H1 chart we are looking for another push high to create a double top or a new high and to create the divergence we need. Once all requirements line up we will sell.
TP1: Opposite Bollinger Band on H1
TP2: 20 MA on H4
SL: above the most recent resistance
Cable is trading higher again since yesterday due to the positive fundamental data. There is resistance around 1.6060/80 area along with band-to-band move and bearish hidden divergence on the H4. Our entry will be based on the combination of H4 hidden bearish + H1 basic divergence that has not yet been created. So on the H1 chart we are looking for another push high to create a double top or a new high and to create the divergence we need. Once all requirements line up we will sell.
TP1: Opposite Bollinger Band on H1
TP2: 20 MA on H4
SL: above the most recent resistance