Look at the chart .
It shows price action chart .It shows price action chart of GBP/USD 45 days.Highest point is 1.3030 it is the resistance ,Lowest point is 1.2802. It is the support . Long term trend from the daily chart is up. Here the another important resistance is 1.2982.Here trend is up and short term trend is in correction, If price can break the resistance of 1.2982 then the next resistance will be 1.3030, If price can break the price the trend will be up again.
The moving agerage says up trend but the Stochastic Divergence shows upcomming divergence which will retrace upto 1.2880@ 61.8% level. SO I have placed Sell with stop loss 1.3050 and Take profit 1.2900. After unfolding I will Buy 1.2900 along the long term trend.
NB:
It shows price action chart .It shows price action chart of GBP/USD 45 days.Highest point is 1.3030 it is the resistance ,Lowest point is 1.2802. It is the support . Long term trend from the daily chart is up. Here the another important resistance is 1.2982.Here trend is up and short term trend is in correction, If price can break the resistance of 1.2982 then the next resistance will be 1.3030, If price can break the price the trend will be up again.
The moving agerage says up trend but the Stochastic Divergence shows upcomming divergence which will retrace upto 1.2880@ 61.8% level. SO I have placed Sell with stop loss 1.3050 and Take profit 1.2900. After unfolding I will Buy 1.2900 along the long term trend.
NB:
hi
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