GBPUSD 4 Hour Long Trade

Randy BalcomTrades

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:

  1. 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.

  1. 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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