GBP Going up through the 4hr level

Strong build up pattern underneath the 4 hour level I've been watching all week, looks like a push up into the 1.24 levels above.

Trade is live but may catch the uptrend line in the pattern some more.

Stop hedge at 1.2245

Handel aktiv:

Fibonacci retracement of the big candle plus the build up pattern below, with 2 hard pushes already above give me a lot of confidence in this position

Kommentera:

1.2235 puts the hedge in a little smarter spot, disregard the JPY chart, only meant to post the GBP one

Kommentera:

Trade is now risk free as we push through

Kommentera:

Stop is a few pips in profit, target set for 124.143, just short of the major level for a higher probability target hit

Trade stängt manuellt:

Broke through the goal for the week, so closing the position on a sign of weakness. Will look for another entry on a retest, but may let the week finish and get ready for next week.

Trade idea is still very likely, but I am satisfied with my balance for the week, and ready to give the mind a rest

Kommentera:

May be some resistance at the 1.2345 level, but not much else in the way. GBP does like to "slow start" each day, but the major stall where it is just shy of the high before is a little worry some. May still play out but be mindful of that level, and if it drops back to below 1.23 by more than about 10 pips, the idea may be no good, unless that high gets broken first, otherwise it may stall around the 1.23 level to finish the week

Kommentera:

🤦 off by a day, it's just now Thursday for me. I'll have that short break and see what's happening after I wake up. Work does need some more attention to, but it's not Friday 🐵

Kommentera:

We ahve a triangle formation that has a middle down the level. Ultimately, I think the buyers are going to finally win this out, next break probably goes

Kommentera:

I say this because we have the point of the triangle coming above the level, and the lower line is holding very strong, so upside looking to me