GBPUSD 4 H Higher Highs/Lows Continuation Bullish Trade

Pair has been creating higher highs and higher lows on the 4 H chart. Macd is over bought above the 80 level so there is a pull back range in the red box. Then when the timing is right there is a continuation green box range where price will make bullish reversal candle patterns. TP is a resistance level @ 1.3015. Follow the Macd as the blue line will fall below the 80 level and the red line. As the bullish reversal candles begin to build momentum the blue line will rise above the red line again.

Kommentera:

Pair did rise to the top of the pullback range @ 1.2962 and retraced to 1.2908 and currently may be developing the 3red candle of an evening star bullish reversal pattern.