Regular Bullish Divergence spotted on GBPUSD H4 and H1 TF
Hello traders. As market open again tomorrow, here is a trade idea on GBPUSD. on the H4 and H1, the price makes a lower low while the RSI indicator makes a higher low, forming a regular bullish divergence as seen on the chart.
Also a spinning top was formed on H4 TF which could indicate bears are exhausted.
Thus, we can make our entries around 1.32331 (or lower), how SL (from H4 TF) can be placed around 1.31858 and our TP (from H4 TF) can be placed around 1.34112. The RRR is 1:3.7, making it a profitable trade.
NOTE: This is not a financial advice
Also a spinning top was formed on H4 TF which could indicate bears are exhausted.
Thus, we can make our entries around 1.32331 (or lower), how SL (from H4 TF) can be placed around 1.31858 and our TP (from H4 TF) can be placed around 1.34112. The RRR is 1:3.7, making it a profitable trade.
NOTE: This is not a financial advice
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our stop loss was hit