GBPUSD: Bullish Market and How to Trade
The price bounced from the daily uptrend line. The price reversal from this line gave us interesting buying opportunities in the hourly and minute timeframes. Now, these trades are in profit!
What's next?
If the price breaks the local downtrend line, it will be a bullish signal in the direction of the main uptrend. Is it possible? Sure, as we don't know the market reaction to the US Election.
If the price breaks the daily uptrend line and moves below SMA200, we will be able to talk about possible short opportunities in the bearish market.
MACD histogram is going to support the further upward movement. RSI is confirming the price reversal. Wait for the close price of the daily candle in order to give the exact signals from the indicators and the price action.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
What's next?
If the price breaks the local downtrend line, it will be a bullish signal in the direction of the main uptrend. Is it possible? Sure, as we don't know the market reaction to the US Election.
If the price breaks the daily uptrend line and moves below SMA200, we will be able to talk about possible short opportunities in the bearish market.
MACD histogram is going to support the further upward movement. RSI is confirming the price reversal. Wait for the close price of the daily candle in order to give the exact signals from the indicators and the price action.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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