Giotradz

GBPUSD SHORT IDEA

Short
FX:GBPUSD   British Pound / U.S. Dollar
the red lines are labeled red, indicating my most recent monthly high and low. we can clearly see we've hit resistance as far as price coming up and touching 4 times on the H4 and daily time frames, with no luck breaking the recent highs. each one created has been a lower high. i do not believe that we will break below the monthly low, as the past 2 months have been setting up bullish momentum however short term (where we make our money( i believe price will fluctuate down to touch the lower daily trend line, where we will catch support. this is not a 1 or 2 day trade, keep this in mind when trading my charts and my analysis. sometimes i hold positions for 3 to 6 days, depending on the market conditions and what im aiming for. also, DO NOT GO TO A LOWE TIME FRAME IF UR LOOKING FOR A REVERSAL. YOU WANT TO SEE A CLEAR CUT REVERSAL ON THE TIME FRAME YOU'RE TRADING BECAUSE IF U GO TO A LOWER TIME FRAME IT WILL MESS WITH YOUR OVERALL ANALYSIS AS SOON AS YOU SEE A GREEN CANDLE.
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