Quick scalp To end the day
Here i was watching the price action around my moving averages and the trend lines connecting the highs as i recognised strong rejetion at the top . So again i was looking for opportunties to sell.
Target is at the start of the strong bulllish candle .Hopefully it touches before the session is over. Fingers crossed.
25 pips move.
On this trade , I opted for a short .
I decided to follow the over all trend.
The area of multiple rejection was indication for me to look for a selling position. As you can see on the chart, all prices after rejection closed below the first candlestick rejected(One of my entry rules).
The second element-- the most important the bearish(white) candle after the...
Bearish Head and Shoulder time frame on the weekly chart.
From the looks of it it has tested the neckline multiple times and its now headed for a new lower low.
Watch out for sell opportunities next week .
GBPUSD
This currency pair for me had the most potential for a downward movement.
resurgence of covid-19 in the united states was the main catalyst or ingredient driving my decision to sell the currency pair.
It was obvious from the pattern identified first on the daily chart and then the H4 chart. I sat quietly and patiently to determine weakness from the...