Potential target 1.5800 -> 1.51080

FX:GBPUSD   British Pound / U.S. Dollar
348 3 3
- Weekly candle shows neutral momentum - A morningstar-like candlesticks pattern, However, the latest candlestick did not close above the 50% of previous Bearish engulfing bar, so it is not a valid morningstar             .

- Bearish reversal daily candle close below daily resistance level , which is also Fibonacci 38.2% retracement level.

- Price pulled back from a newly formed lower low.

Thoughts :
Price may flirt around the resistance level & the falling trendline for sometime now.

Idea :
Look for low risk shorting opportunity in lower time frames later after London open session.
Great, However, I haven't seem to find any potential shorting opportunity in lower timeframes, and due to the USD weakening, it is better to stay away until a setup represent itself. It is still too early to short..
Yep. I will wait for the H4 trend being downside, and will look for short on H1 or M15. Patience is great for trading.
Have similar idea with you.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out