PriceActionTrading
Short

GBPUSD CONFLUENCE TO SELL

FX:GBPUSD   British Pound/U.S. Dollar
471 8 6
PRICE HAS NICELY REACHED TRENDLINE DRAWN.

61.8% FIB
1.52 REJECTION
TRENDLINE REJECTION


BECAUSE OF THE RECENT 2 WEEKS PUSH, PRICE IS CURRENTLY ABOVE 50SMA AND 20SMA ON THE D1 AND H4. THUS THESE SMAS CAN ACT AS SUPPORT. TRADE WITH CAUTION.
AND ALSO, RISK REWARD IS NOT OPTIMAL AT THE MOMENT.
THIS IDEA SETUP IS SIMILAR TO MY GBPJPY             IDEA.

CONFLUENCE IS THERE, DECIDE FOR YOURSELF, DO YOUR OWN ANALYSIS AND TRADE WITH CAUTION.

PLEASE COMMENT IF YOU AGREE OR DISAGREE, FOLLOW ME TO SEE WHAT I AM THINKING.

EDIT: RSI IS PART OF MY CHART, IT HAS NO CONFLUENCE FOR THIS IDEA. IM SORRY I DID NOT HIDE IT.
Casey_Yeo
2 years ago
still waiting for confirmation.
Reply
PriceActionTrading Casey_Yeo
2 years ago
Yes that is definitely required. Moreover the RR is not enticing at the moment. Without proper RR and confirmation, no way i am entering this.
Thanks Casey.
Reply
Casey_Yeo PriceActionTrading
2 years ago
GBP has been on steroid. Careful.
Reply
PriceActionTrading Casey_Yeo
2 years ago
Indeed. Just wanted to point out the confluence for this pair. Then let people to decide if they want to get in.
The thing about steroid is that it leaves a man weak after its effects. Lets hope that is true for GBP.
Reply
Casey_Yeo PriceActionTrading
2 years ago
LOL..that's what I'm waiting for too. Preference: false break of trendline.
+1 Reply
PriceActionTrading Casey_Yeo
2 years ago
Yes, thats where the RR is optimal.
Reply
Too much steroid.
Reply
I think it'll continue to go up now.
The dollar correction isn't over, maybe a retracement as a buy opportunity.
Reply
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