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[A Closer Look: The Intriguing Factors That Have Sustained My Interest in This Promising Buying Opportunity]
When it comes to GBPUSD, my sights are set firmly on one direction: buying opportunities. The stage is set for a potentially lucrative trade,... more[A Closer Look: The Intriguing Factors That Have Sustained My Interest in This Promising Buying Opportunity]
When it comes to GBPUSD, my sights are set firmly on one direction: buying opportunities. The stage is set for a potentially lucrative trade, and I'm eagerly awaiting the perfect entry point.
On the 4-hourly chart, a retest of the trendline (right) holds the key to triggering a buying opportunity. As long as the price remains above the lowest trendline, a breakout could present an ideal entry. Alternatively, a break and close above the high at 1.2483 (also on the 4-hourly chart) could be the signal to jump in.
Delving deeper, the 1-hourly chart (left) offers additional scenarios for a potential buying opportunity. A retest of support at 1.2421 or a more significant level at 1.2395 could both serve as triggers for an entry.
But why this unwavering persistence? Let's turn our attention to the weekly chart, where a break and close above resistance becomes a compelling catalyst for my bullish stance. Although we remain within the sell zone, I'm already scouting for buying opportunities, anticipating a potential shift in momentum.
Now, what if I'm wrong? It's a calculated risk. I understand that hitting stops is a possibility, but I mitigate that risk by ensuring most of my trades have a profit factor of 2. This means I can maintain profitability with a 40% accuracy rate.
So, as the GBPUSD landscape unfolds, I remain resolute in my pursuit of buying opportunities, armed with strategic insights and a calculated approach to capitalize on potential gains.
Live chart:
https://www.tradingview.com/chart/GBPUSD/U8KYPi0s-A-Closer-Look/ />
Redeem Free Training by clicking the Pin Messages in the Traders Cafe Chat�
https://discord.gg/AKDr9vPqH7
#GBPUSD #channels #supportandresistance #rsidivergence #trendtrading #combotrade #trendtrading #trendcontinuation #candlestickanalysis #candlestickpattern less
https://vimeo.com/828792468
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On the Daily Chart (right), we have the potential Bullish Flag Pattern forming. If Flag Pattern didn't happen, a retest on the support line at 1.1937 with an RSI Divergence gives traders who are looking for a buying opportunity a push to enter the... moreOn the Daily Chart (right), we have the potential Bullish Flag Pattern forming. If Flag Pattern didn't happen, a retest on the support line at 1.1937 with an RSI Divergence gives traders who are looking for a buying opportunity a push to enter the trade.
On the 4-hourly chart(left), the parallel channel meets at the same price region of the daily chart at 1.1932, which definitely brings me interest in waiting for a retest and waiting for a buying opportunity.
Live chart:
https://www.tradingview.com/chart/GBPUSD/BpVDMkMB-Trendline-meets/ />
Redeem Free Training by clicking the Pin Messages in the Traders Cafe Chat�
https://discord.gg/AKDr9vPqH7
#GBPUSD #supportandresistance #bullishflag #trendtrading #candlestickanalysis #candlestickpattern #flagpattern #channels #trendlines less
https://vimeo.com/804887861
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