I've been ill for the past few days, but I'm back now :) On the GBPUSD I'm looking to enter short as soon as we get a closed candle below the black trendline. Target is a completed AB=CD pattern, at 1.20300 area.
I will be updating this chart as time progresses.
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Still waiting for a close below the line.
Order cancelled
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Although I do believe that we will go down, there is no clear entry for me right now.
Hey! Your thoughts on it reversing at the 1.2000 area (Completion of Leg D on the bullish bat setup) up to 1.23-1.24 mark before retracing back?
11021992
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@Supertechpro, The bat pattern that I posted a few weeks back is still valid, so it is likely that there will be some hedging going on here. We will have to wait and see.
Lospper
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Still descending?
Is it still a selling opportunity?
11021992
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@Lospper, The wick from the previous candle is a bit awkward, so I'm actually just waiting what price do. It could very well be invalid.
Glad you're doing much better @11021992!Always appreciate your analysis and insights.I'll watch out for this position this week.Currently holding a long as it closed above the 1215 strong support level on Friday,targeting abit of an upward trend before it goes down :)
11021992
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@Supertechpro, Thanks, appreciate it! Yeah wouldn't be surprised if we hit the 1.22 area before dropping.