NearDrowning

GBPUSD Fib circle levels / Trading using arcs

FX:GBPUSD   British Pound/U.S. Dollar
378 0 16
3 months ago
Hello traders,

The first November week we saw British pound’s bullish breakout against the US dollar             .
The British pound’s bullishness against the US dollar             started to fade towards the end of Friday’s. But I believe that it still has some space to go up. Now we can possibility hove up-trend continuation, traders will likely look for correction, that's why It is worth shorting. Personally, I recommend shorting from first level of fib circle (Marked Red) :
snapshot
After this correction we might see first level of fib circle breakout. That would be a good reason to go long. Before that I would not be surprised to see some flat movement. For now my top resistance level is around low made after Brexit.

This Idea also shows how to use arc breakout up, which I hope you will find useful.

I want to wish a good luck for the next week. Stay focused not only on TA, but also FA.
If you found anything useful in this Idea, please give it a like. Thank you.
3 months ago
Comment:
snapshot
3 months ago
Comment:
snapshot
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