If the market price goes as the same pattern as before, there is a possible market entry for sell position at GBP/USD Daily.
The price potentially build a gartley pattern in combine with fib retracement + fib extention.
Furthermore, the rsi and stochastic gave you a signals that the price has already in the overbought area, and potentially will go down.
In combining such method,place a sell order and aim the TP1 at the 1.30284, TP2 at 1.27624 and place a SL at 1.32910.
TP1 is the previous nearest support of a structure, and TP2 is the possible of D leg of gartley pattern including the price of where the 0.786 fib retracement is + mayor resistance (black line) + fibo ext of 1,272 which potentially make a D line of Gartley pattern.
Good luck, and Happy trading!! ;)
The price potentially build a gartley pattern in combine with fib retracement + fib extention.
Furthermore, the rsi and stochastic gave you a signals that the price has already in the overbought area, and potentially will go down.
In combining such method,place a sell order and aim the TP1 at the 1.30284, TP2 at 1.27624 and place a SL at 1.32910.
TP1 is the previous nearest support of a structure, and TP2 is the possible of D leg of gartley pattern including the price of where the 0.786 fib retracement is + mayor resistance (black line) + fibo ext of 1,272 which potentially make a D line of Gartley pattern.
Good luck, and Happy trading!! ;)