Extension -- Pullback -- Extension -- Pullback, that's how the markets move. After the current extension higher on the GBPUSD the next opportunity to buy (unless you're a breakout trader) is waiting for price to pullback into previous structure and then looking to catch a pullback trade in anticipation of a move higher.
IF price continues higher THEN I would project a move to the $1.31 -$1.32 price points.
@TanveerAlam, Yes, my question is what are you asking is valid or not? I don't know what type of trade setup you're referring to
Mltrades
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I agree - i'm also anticipating a potential extend high first to the 1.30949 area and then pullback to the 1.30304 area as a potential new support entry level for a long trade.........
hi Akil, although GBPUSD not a pair on my list, GBPNZD is and is in a similar situation. Thanks ! Keep up the great PodCast content btw, ive nearly binged the whole series :D :D
Akil_Stokes
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@Chinguyen, Thaanks, and I appreciate you supporting the podcast. it's been a blast to do and the reviews have been amazing