Here is my simple trendline break, long trade set up on GBPUSD
The recent 4hr/daily bearish trendline has now clearly been broken and price has tried to form a new high on the 4hr timeframe. Price also broke back above the 1.30 key support/resistance zone.
I am looking to go long on a pullback and bounce off the broken TL and Fib 0.5/0.618 retracement levels. Targeting new 4hr highs at 1.316 and 1.325
WARNING: May 2019 NFP data is today so this set up could be one for next week or late this afternoon.
The recent 4hr/daily bearish trendline has now clearly been broken and price has tried to form a new high on the 4hr timeframe. Price also broke back above the 1.30 key support/resistance zone.
I am looking to go long on a pullback and bounce off the broken TL and Fib 0.5/0.618 retracement levels. Targeting new 4hr highs at 1.316 and 1.325
WARNING: May 2019 NFP data is today so this set up could be one for next week or late this afternoon.
