GBPUSD Long
Reasons for bias:
-Descending channel inside descending channel which is inside descending channel
-So we have multi-timeframe confluence
-Descending channel is often continuation or reversal to up
-Most inner descending channel broke to upside with high bullish momentum
-So we expect price to continue and break next bigger channel
-There is also a chance for price to continue toupper trendline of biggest descending channel on higher timeframes
No confirmations to look for as we already have clear (risk entry) confirmation for Long position.
You can also wait for break of next upoper trendline or retest of earlier one.
This is just idea, not trading advice, use at own risk.
-Descending channel inside descending channel which is inside descending channel
-So we have multi-timeframe confluence
-Descending channel is often continuation or reversal to up
-Most inner descending channel broke to upside with high bullish momentum
-So we expect price to continue and break next bigger channel
-There is also a chance for price to continue toupper trendline of biggest descending channel on higher timeframes
No confirmations to look for as we already have clear (risk entry) confirmation for Long position.
You can also wait for break of next upoper trendline or retest of earlier one.
This is just idea, not trading advice, use at own risk.
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