GBP/USD - buy on 4H - next big up wave incoming

2019-11-06 17:59:10

The Market price is since middle of October in correction movement and formed a triangle pattern.
Now the market reached a strong trend resistance line and is likely to come back to the drawn buy area (maybe after a small feakout to 1,2905)

-MACD baselines going to cross bullish soon which brings buyers into the market
-RSI baseline is within down trend channel and retraced from trend support line which is bullish indicator
-market price supported by 100 day moving average, expect fast down movement to buy area if the price close under the blue line
-upper bollinger bands stopped up movement which indicates further down movement

Wait for market to reach the buy area before entering long - otherwise is the risk/ratio rate bad.