ARFXC
Short

Short On GBP/USD SELL SELL SELL !!!

FX:GBPUSD   British Pound/U.S. Dollar
Reasons for

-On the four hour we have been testing that upper trend line for some time now and price simply aint breaking it
-Also we are putting in Lower Highs A sign of change of trend and a reversal
-We also have broken our Wedge to the downside which confirms bearish momentum
-We have also Held at the 0.618 Fib levels numerous times from the highs high on the up move
Therefore i believe the 4 hour timeframe is bearish

Daily
-On the daily we are clearly in a long term down trend
-There alot of wicks to the upside shows more selling pressure
-This pull up can be seen as a small correction
-After todays             candle which is shaping up to close as a bearish engulfing if so A bearish reversal sign
-Also price closes bearish it would have engulfed almost 4 days worth of price action
-Fridays candle was a doji so this signifies indecision so price putting in a Bearish engulfing gives us the signal that we are going Bears again
-We also trading at a key level of 1.45000 that has stalled price and show RES
Therefore i believe the Daily is bearish

Weekly
-Firstly last weeks candle was a doji on our key level of 1.45000
-Yes i no we are only 2 Days into the week (Tuesday) But if this week carries on being bearish we could be looking at a long term selling setup But we will wait for that to happen
-We are clearly down trending on the weekly
The trend is your friend ;)
-So the bullish movement we've had over the past two weeks could be a simple correction before another move down and create another Leg down
-Also we are near all time lows so perhaps we are going to test that again before anymore bullish movement (LongTerm)
Therefore i am bearish on the weekly too

My Entry : 1.44350

3 Timeframes all bearish :)
Only 1-3% of account proper risk management
Trade safe

If you liked this analysis and Setup
Follow and give thumbs up Also id love to hear what you guys think of the setup :)
Wishing everyone a great trading Week :)
Comment: May close early
due to Major news For GBP
so may close 10 minutes before depending on how the trade looks :)
Looks good, break of trend, failed to make a new high, price pivot compression......
+1 Reply
ARFXC SniperFX
Agreed more confluences :)
Reply
great chart.
+1 Reply
ARFXC arif_awan
Thanks
Reply
I'm loving this setup
+1 Reply
ARFXC LeviEvans
Thank you
Reply
Nice
+1 Reply
Hoping for a good 1st trade of the week
+1 Reply
ARFXC Ryanwollacott
I hope soo too
lets see what happens
Reply
On it
+1 Reply
Loving the analysis
I learn so much from your setups
so much detail thankyou
+1 Reply
ARFXC BigLee123
Thankyou
i appreciate it
Reply
Great setups as always brother
+1 Reply
ARFXC EssawGipson
Thanks Essaw
+1 Reply
Good setups as usual brother!
+1 Reply
1st of the week lets see how this one goes :)
+1 Reply
ARFXC breeJy
Yep lets see how oit goes im confident about this one :)
Reply
Great looking setup
Your my go to guy for setups
Always on point
+1 Reply
ARFXC TradingFX1234
Cheers
Reply
MONEYYYYY ;)
+1 Reply
ARFXC swisse1
££££ hahaha
:)
Reply
this is a great setup
very bearish
multi timeframe analysis :)
+1 Reply
ARFXC yiaya1234
All about confluences ;)
Reply
I think we still gonna see a lower high. then maybe it breaks down.
+1 Reply
ARFXC Wesual
Hmm maybe i dont see it happening but lets see
Reply
Wesual ARFXC
Ah I missed it. :) Nice predict man! Waiting for the next one. ( I wont miss that! )
Reply
In profit , thanks again.
Reply
$$$$$
+1 Reply
I got the same target man.GL!
Reply
Nice trade ! For trend line trade, I think is good to wait it pull back and retest and enter.
Reply
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