Постинг
17.03.2016 12:37 -
GBPUSD
Management and risk description
Since finding a bottom at 1.3835 at the end of February GBPUSD is tracing out a potential Inverse Head and Shoulders reversal formation (refer daily chart below).
Support is probably today found around the mid 1.4100’s area to yield a strong test of key Neckline resistance at 1.4400/1.4435. A sustained break above this resistance will establish an upside objective of 1.5075 over the coming weeks.
I have outlined a trade (below) to capitalise upon this developing situation.
Parameters
Entry: Today, buying GBPUSD 50% at 1.4180 and 50% at 1.4150.
Stop: 1.4093, initially.
Target: 50% at 1.4655 and 50% at 1.5040.
Time horizon: Allow several weeks for both targets to be met.
цитирайSince finding a bottom at 1.3835 at the end of February GBPUSD is tracing out a potential Inverse Head and Shoulders reversal formation (refer daily chart below).
Support is probably today found around the mid 1.4100’s area to yield a strong test of key Neckline resistance at 1.4400/1.4435. A sustained break above this resistance will establish an upside objective of 1.5075 over the coming weeks.
I have outlined a trade (below) to capitalise upon this developing situation.
Parameters
Entry: Today, buying GBPUSD 50% at 1.4180 and 50% at 1.4150.
Stop: 1.4093, initially.
Target: 50% at 1.4655 and 50% at 1.5040.
Time horizon: Allow several weeks for both targets to be met.
