NamDaoFX

[GBP/USD] SELLER IS GONNA WIN THIS WAR?

Short
FX:GBPUSD   British Pound / U.S. Dollar
1. Weekly timeframe:
- Big Bearish trend bar after Market reaching to weekly resistance zone .
2. Daily timeframe:
- Market broke the uptrend structure.
3. H4 timeframe:
- New resistance zone was created near the uptrend structure break.
After reaching to this resistance zone , market created a new resistance zone -> This tell us about seller pressure is coming.
- Beside it, for trading pattern,
We can see the 1st TOP of W pattern appeared -> Where is the 2nd TOP of this pattern?
at this time. engulfing appeared -> This signal for 2nd leg.
=> So, with these informations,
+ New resistance + 2 top pattern -> We can place the sell order with stoploss above the 1st TOP.
Trade active: Entry active
Comment:
Market has already broken down the hammer of daily TF -> Confirm downtrend!
Trade closed: target reached: Done. Market hit TP.
- Related strong bearish trendbar, With Market in downtrend.
Price will keep going down.
So, if you still hold the sell order, i think you should leave your stoploss.
Do not lose erverything.

Good Luck!

Comments

Nice
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