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Mar 14, 2020 2:10 PM

BEAR Momentum | GBPAUD Long

British Pound/Australian DollarFXCM

Description

Weekly - We notice a major exhaustion which mean the market is ready for the downside

Daily - Major Support ans Resistance is set with the market testing the Major Resistance and also made its High after the huge exhaustion with a bearish candle

4HR - The market created a major Resistance which is a Double Top, but on 1Hr we see it test that resistance 3 times. This rejection is a confirmation that the market cant break the resistance after the major exhaustion.

How to enter - We look for a retrace and enter with Price Action using candle stick analysis or retracements
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