GBPUSD 4 Hour Trade
This is an experimental trade based on what I have learned from Nial Fuller’s price action course.
On the weekly, we have a pullback into the value area with an uptrend still in play. The 8 is over the 21 and we have a zone which has not closed yet.
On the daily chart, we have a sloppy double top , the EMAs have crossed to the short side and the MACDBB is showing price is over sold. No clear signal here.
On the 4 hour chart, we are under the value area (8/21 ema) and have entered into a large Dynamic Zone to the short side.
There are two potential trades here:
- Price may retrace to the value zone on the daily chart (1.38617) and then go south.
That trade will require waiting until price gets back up into that area.
- Trade a 4 hour short on a break below 1.37290, Target 1.35434 and stop 1.37898
We will see which one is right…
THIS IS AN EXPERIMENTAL TRADE WITH CONFLICTING SIGNALS.
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