Interesting setup on GBPUSD. Yes, it’s Friday, but I think there’s still a trade here.
We got a good volume spike on the buy side, which gives us a fairly tight stop below the low of that volume zone.
Right now GBPUSD is trying to get through the blue daily diagonal. I want to see price hold above it first. If it does, the next level is the turquoise weekly resistance.
From there, I’m looking for a move higher toward the upper level around 1.3390.
I think the buy volume that came in here could be enough for another 50–60 pips higher despite it being Friday.
Tools I’m using on this chart: Magic Diagonals and Volume Spike Levels — both are available in my profile.
We got a good volume spike on the buy side, which gives us a fairly tight stop below the low of that volume zone.
Right now GBPUSD is trying to get through the blue daily diagonal. I want to see price hold above it first. If it does, the next level is the turquoise weekly resistance.
From there, I’m looking for a move higher toward the upper level around 1.3390.
I think the buy volume that came in here could be enough for another 50–60 pips higher despite it being Friday.
Tools I’m using on this chart: Magic Diagonals and Volume Spike Levels — both are available in my profile.
Trade closed manually
volume worked out, price reached first resistance and I prefer to close the trade here
Indicators, updates & setups: t.me/magicdiagonals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Indicators, updates & setups: t.me/magicdiagonals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.