#GBPUSD 4H Hour Short

FX:GBPUSD   British Pound / U.S. Dollar

GBPUSD             4H Hour Short

1. Price action running in consolidation
2. ABCD pattern completes around 1.27 extension of AB ( harmonic move)
3. Butterfly Pattern completes in the same area
4. 200 SMA is close to the area of possible short
5. RSI is reaching overbought but wait for confirmation and overbought scenario

Plan your battle well in advance and win.

(Just my ideas, do you own analysis)
we are in the market at the moment. Waiting to see how markets plays this out.
Good call on the bear butterfly pattern
TradeYodha Siyabonga_Ngcobo
Thanks mate
possible double top coming
TradeYodha TradeYodha
divergence, double top and overbought conditions have arrived
could u plz explain how overbought confirmation can be identified ?
TradeYodha scorleoney
I use 7 period RSI with extreme levels of 80 and 20. If the RSI is over 80 is it is over bought and if it is below 20 it is oversold.
scorleoney TradeYodha
thank you. thank you very much...
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