My account is in draw-down mode right now. So I'm being fairly careful about my trades, not trading unless I've got strong indicators, and not trading more than I want to lose - so my stops are tight, and the upside is carefully calculated before I enter a trade these days.
Tonight, I'm looking at the GBP/USD - nice little return to the continuing bullish trend there, I think. So, here's the analysis:
Hourly:
15-minute:
Daily:
So, all things considered, that looks like it's ready to head up now. Not in a steep curve, but on a gentle slope.Got in to that trade - now I'm seeing some fairly enthusiastic swings. :) Let's see how this one plays out! I think the GBP/USD can easily hit 2.0890, so I'm setting my limit just below that - 2.0890 is the 38.2 Fibonacci retracement line on this chart - another psychological barrier there. So I'll watch how it does. Hopefully, I won't get stopped out too early!
