moa_trading_journal

GBPUSD – Getting READY for a big SELL

Short
FX:GBPUSD   British Pound / U.S. Dollar
We finally came to the end of 2020. I have been forecasting for big bearish move for several weeks, will 2021 finally start to favor the bear?? This is a hard question to answer, however one thing that I know is from the technical standpoint it says so,.. and it will be a MASSIVE one. In addition, this year we will finally end the brexit story as 2021 mark the end of Brexit transition period. Trade aggrement between Britain and EU has finally been approved.

Despite all of that, what I want to tell is from the technical view. This chart that I show is just a portion of a multi high TF (Daily and above) corrective ascending structure and the price is now really at the top (high value area) of these structure. I see no other option to make use of this upcoming bearish trend beside from take the short entry as early as possible as it shows any sign of reversal.
I’m now anticipating a rejection move to the downside (must be impulsive) and forming a small bearish continuation structure (H1 or M15 depending on structure). I will take a short entry as the price break the bearish continuation structure.

Lets see how will this pair develop. Good Luck
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Here is the MOA FX technical analysis , please comment below if you have any question.

The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.

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