GBPUSD LONG
Daily Bias Long
Fundamental Analysis - GBP CPI higher, GBP stronger. USD weak data, USD bearish
Price Action:
Price pushed to a new high into Daily Horizontal Level and formed an ascending triangle within the Horizontal level. H4 trendline is also at the ascending triangle area. Price break out of ascending triangle resistance level. Price closed above the resistance level. It is a bullish momentum candle formed in H1.
Confluence:
Higher TF (W/D/H4) - Ascending triangle, H4 trendline, breakout of resistance of Daily resistance.
Lower TF (H1/M30/M15) - Breakout ascending triangle, Bullish momentum candle
Set up:
Long trade set up at broken H1 resistance. SL below swing of ascending triangle. TP next swing high for Daily TF. R:R 1:4
Fundamental Analysis - GBP CPI higher, GBP stronger. USD weak data, USD bearish
Price Action:
Price pushed to a new high into Daily Horizontal Level and formed an ascending triangle within the Horizontal level. H4 trendline is also at the ascending triangle area. Price break out of ascending triangle resistance level. Price closed above the resistance level. It is a bullish momentum candle formed in H1.
Confluence:
Higher TF (W/D/H4) - Ascending triangle, H4 trendline, breakout of resistance of Daily resistance.
Lower TF (H1/M30/M15) - Breakout ascending triangle, Bullish momentum candle
Set up:
Long trade set up at broken H1 resistance. SL below swing of ascending triangle. TP next swing high for Daily TF. R:R 1:4
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