The pound has made a nice bounce off both the upward purple median line and a nice peak to low reaction line. It is now in a triangular holding pattern within a nice triangular ledge. May bounce around within the green triangle before breaking down.
Note: If it Zooms and breaks the high & closes above the upper Purple dotted median line convincingly, bearish sentiment has reversed and will either consolidate along the purple ML or continue to the upper dotted purple parallel.
Sincerely,
TIK
Comments
justindanethan
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Market is going sideways so far... are you still short on this trade setup?
Timing_is_key
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Yes, Was in on the first touch at the ML line with a decent stop, Notice how it is trying to break the ML but can't close over:) Still a short Bias however if it reverses and breaks the ML will reverse position
TIK.
Timing_is_key
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Possible re-test ( Stop Run ) Large ML and previous high........Will look for confirmation via the close
kapanyanyimonyok
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Christmas comes early this year.
manijeh.kazemi.33
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thanks for this post
Timing_is_key
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Thankyou
Zeheart
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Nice one .. i din manage to enter this instead i shorted GOLD =) Good trading & have a good weekend... =)