GBP/USD Four hours chart.
We have a support breakout, MACD and RSI confirming the breakout. Daily chart breaking the 161.8 level. What do you think about this trade set up Mr. Vahid?

You really should post a chart so that we can understand what you are saying.
Personally, I do not see a support break on the H4 chart. You may have drawn a different line. The contact points with the line are a bit too far apart for my liking. I would like to see the line ratified.
I do see the divergence with MACD and RSI, so this does indicate that the price can go down from here.
I guess that you posted a couple of hours ago and things have moved on since then.
Currently the price is showing good reaction to the support and so it may be a valid support line



Should this candle close below support, it wouldn't be a trade that meets my criteria, but I can see that it is a possible. Personally I would like to see the price validate support and go up again before the bears push the price down again to break it.

Blackpele,

I had a rare bit of spare time, so if you don't know how to post your chart, please look here..

how-to-attach-a-chart-to-your-post-415.html


Keith

Thanks a lot Keith