GBPUSD - Time to let the Divergence run
Hi Traders!
The market broke out from the weekly Trendline.
After that, it consolidated and now, it is retracing back.
During this Retracement process, the hourly MACD shows as strong
Divergence.
In addition, we now have a consolidating Range, where we also have
a potential Lower High.
Furthermore, the Retracement Trendline (which can be expanded to the left) could serve as an Entry Trigger.
The Target is the "Area of Control" of the Fixed Range Volume Profile.
As we are going to take Profit at this Zone, we have to check
at which point the market could possibly turn.
The "Area of Control" shows is in our opinion a good tool to check the Area from where the market could turn.
If you have experience with the "Fixed Range Volume" tool and tips to share, let us know in the comments!
Thanks and successful Trading :-)!
The market broke out from the weekly Trendline.
After that, it consolidated and now, it is retracing back.
During this Retracement process, the hourly MACD shows as strong
Divergence.
In addition, we now have a consolidating Range, where we also have
a potential Lower High.
Furthermore, the Retracement Trendline (which can be expanded to the left) could serve as an Entry Trigger.
The Target is the "Area of Control" of the Fixed Range Volume Profile.
As we are going to take Profit at this Zone, we have to check
at which point the market could possibly turn.
The "Area of Control" shows is in our opinion a good tool to check the Area from where the market could turn.
If you have experience with the "Fixed Range Volume" tool and tips to share, let us know in the comments!
Thanks and successful Trading :-)!
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