jojofang0901

GBPUSD top of the price action, watch for drop

Short
OANDA:GBPUSD   British Pound / U.S. Dollar

Hi everyone:

Also looking at GBPUSD for the bearish opportunities.

Price has been in a long term, higher time frame ascending channel correction, moving the price up to the current area.

We can see on the higher time frame, we approach to a previous high,
which is also where price formed similar price action.
A double tops, "M" structure within the HTF ascending channel , and strong breakdown from the price.

Very identical price action here as well on the lower time frame.

What we can expect the price to do now is complete this lower time frame ascending channel correction,
and look for breakout of the price follow by more bearish correction to go.

Thank you
Comment: higher time frame:
Comment:
Comment:
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Comments

Good chart analysis mate, keep up the good work and see you again on Sunday afternoon !
+1 Reply
jojofang0901 traderNow7
@traderNow7, Thank you bud :) appreciate the support and feedback
Reply
Amazing work! respect your effort
+1 Reply
jojofang0901 Mahtab_Tradia
@Mahtab_Tradia, thank you :)
Reply
I see it up...but let s see
+1 Reply
jojofang0901 OptimoomFX
@OptimoomFX, yea certainly anything can happen of course in the market. I am waiting for more commitment and bearish development on the price first before consider any entries :) thx
Reply
Loving it 👍🏼
+1 Reply
jojofang0901 T_V_TreeTrader
@T_V_TreeTrader, great thx :)
Reply
Good one mate
+1 Reply
jojofang0901 Helical_Trades
@Helical_Trades, thank you :)
Reply