Forex Trading Ideas & My Best Forex Robots

In 06 november price went upper to 1.3175 where supply took control and pushed price down. Bulls has try to go upper but when price was back near 1.3175 bears again pushed price down. Double top was drawn on chart and we can draw local resistance line at 1.3175. Price is still over upward trend line so we still keep our buy tade with stop at break even.

GBPUSD for a few sessions is walking in range 1.30000 - 1.33000 but price is still over uptrend line so upward direction is still valid. Today after the very important publications from UK market price has rapidly dropped to support zone where also is trend line. In our forex idea we see that price has stopped at this level and see some buyers activity. We are opening buy trade with target at last local resistance near 1.33000 and with stop near 1.2980. Our risk reward ratio is 1:3.

In the last week we were expecting that GBPUSD go upper at least to last local high near 1.36000 but price backed and our long trade was closed on break even. GBPUSD is still in upward trend over trend line. Now we are out of the market waiting if price will fall to the upward trend line.

Despite a large drop on GBPUSD it is still over trendline from march 2017. Price has defeated our support zone without any potential buy signal but Now price is coming to this trendline where we will be waiting for a good buy opportunity.