GBPUSD has been trending down heavily and has stalled on support forming a bullish pin bar.
This signals a possible retrace in the down trend.
We might hit resistance at the 1.27 level. Depending on what price does at that level, I might close out earlier. The trend seems strong, therefore the retrace may be shallow.
Here is my entry in my trading log:
Date Pair Direction Trade Trend Level Signal Entry
2019-06-02 GBPUSD Long Counter Trend Down Horizontal Support Pin Bar break
This signals a possible retrace in the down trend.
We might hit resistance at the 1.27 level. Depending on what price does at that level, I might close out earlier. The trend seems strong, therefore the retrace may be shallow.
Here is my entry in my trading log:
Date Pair Direction Trade Trend Level Signal Entry
2019-06-02 GBPUSD Long Counter Trend Down Horizontal Support Pin Bar break
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