GBPUSD - Pullback above Daily 8EMA. Looking for SHORT entries
Pullback above the Daily 8EMA
Doji signal at top of pullback shows signs of exhaustion.
SELL STOP order placed on break below low of doji.
NOTE: GBP news at 16:30pm today, might mean that traders are indecisive until then. I have set a wider than usual stop above the previous resistance at 1.3096 for protection.
Doji signal at top of pullback shows signs of exhaustion.
SELL STOP order placed on break below low of doji.
NOTE: GBP news at 16:30pm today, might mean that traders are indecisive until then. I have set a wider than usual stop above the previous resistance at 1.3096 for protection.
Order cancelled:
On looking at the D1 chart, I notice that this is probably a BULLISH ENGULFING signal rejecting the low for the second time. This could be a reversal, although price might try to test the low again.
Watch carefully GBP news this afternoon as that will probably kick things off one way or another.
Watch carefully GBP news this afternoon as that will probably kick things off one way or another.
