7pasos

Bullish GBPUSD scenario could change fast

FX:GBPUSD   British Pound/U.S. Dollar
381 4 0
Change has not yet occured in the bullish scenario but this could change fast if the last dragon fly doji lack of concensus among the buyers.

Observe that we have a channel that as far as now has failed to break trough the 1.5750 zone, and if the 1.5417 zone is broken the projection for this channel breakup is as far as 1.50 which will make a cluster with the previous support zone at the very same level.

Even if in the proccess of breaking the channel (if the price gets to it) do not form any other point to place a secure stop loss the risk reward ratio is about 1.3 using the last high as stop loss place.

Therefore the chances for an increased interest from the bears is to be expected.
Hope pair will continue the trend in the channel
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I think we could have few days bull here after the doji and then back again out of the channel
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sorry but just a question < is not that you call a doji is also called a pin bar according to price action and also the long down tail indecates false down movement which is a bullish signal?
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7pasos PRO nawras.elghorani
the dragon fly doji express an intention but not so much as reversal, reversal could be if close above the doji
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