GBPUSD MTF Analysis
- I came across this setup when looking at the currency strength indicator. GBP displayed a 6.0 and USD displayed around 1.9 strength
- This indicates to go long on the GBPUSD when basing off of currency strength
- I loaded up MTF for GBPUSD
- The 1hr, 4hr, D1 and W1
- All show Stochastics around the mid zone
- All show correlating Supply and Demand Zones
- All show corresponding consolidation periods
So, here is our plan! See pending orders and target zones at the bottom of the post
Pending Orders
- If you are a shorter-term trader then here are some solid entries for you:
- Long Entry: 1.24266
- Short Entry – 1.22286
- For longer term traders:
- Long Entry: 1.24917
- Short Entry: 1.21538
- Long Target Range: 1.258725 – 1.28213
- Short Target Range: 1.207075 – 1.19281
- Trail stop for maximum profit!
Cheers to another successful week!