Chance of Rejection at 1.3130? Potential SELL for short-term?
At the outset, I would like to clarify that I am BULLISH ON GBPUSD LONG-TERM and I published my idea last week where I advised buying the dips at 1.2880-1.2910.
However, for short-term trading set-ups, I am looking for potential SELL opportunities.
As you can see, there is significant resistance in the 1.3110-1.3140 area and the price has been rejected multiple times from this area.
So, traders can look for SELL at 1.3130 area with SL at 1.3165. TP can be set at 1.3020. depending on BEARISH PRICE ACTION
However, for short-term trading set-ups, I am looking for potential SELL opportunities.
As you can see, there is significant resistance in the 1.3110-1.3140 area and the price has been rejected multiple times from this area.
So, traders can look for SELL at 1.3130 area with SL at 1.3165. TP can be set at 1.3020. depending on BEARISH PRICE ACTION
Order cancelled:
Price dropped before touching 1.3130 level. So, this set-up is not valid anymore
Trade active:
Sell Limit at 1.3140. SL: 1.3230.
Another Sell Limit 1.3200
Another Sell Limit 1.3200
Trade closed manually:
Closed at 1.3090 with 50 pips
