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jojofang0901
Oct 13, 2020 9:36 PM

GBPUSD Start of the next bearish run ? Short

GBP/USDOANDA

Description


Hi traders:

Looking at GBPUSD for the next bearish run on the higher time frame.

Here on the intraday chart, after price dropped down from the top, we see a period of consolidation of price.

Few structure were formed to correct the overall down move, and latest price shows us some good reversal price action.

We see a recent double tops, and a reversal structure on the LTF to push the price down, good indication this can be the start of the next bearish move.

To be more safe, I would want to see price break of of this current channel like structure, and form continuation correction to get in the sell.

Thank you

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Still looking for a potential sell setup here.

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Comments
PolarHusk
I think it will test the lower trendline support. Thanks for sharing your idea 🐻‍❄️😃
jojofang0901
@PolarHusk, Yes :) and we can see if price will continue down more or reverse. Thx bud
KlejdiCuni
Great chart!
jojofang0901
@KlejdiCuni, thank you, you as well :)
Saeed966
thanks for sharing! this is what I see on GBPUSD:
jojofang0901
@Saeed966, thanks for sharing your outlook :)
Alexander_Harford
good job here
jojofang0901
InkyGrip
nice chart! thanks dude 🦐
jojofang0901
@plancton0618, your welcome.
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