Price has been forming an Ascending channel in the HTF, and impulsively reacted from the top of it.
In the LTF (1Hr) price has been forming an ascending channel as well, breaking it on the 31st and now correcting it as a continuation flag. Waiting for a BO of price to TP at the most recent swing low.
Price is approaching level 1.7609 area. This is the great shorting zone. Make sure to sell here and target 1.7480 and target 1.7414. Use proper money management.
Tight stops as always.
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
After the market Squeezed for a while, it breached the Support.
And start to retest the recent Support as a new Resistance.
After a strong Bearish Pin Bar and decline the Exponential Moving Average ( 10, 20 ).
I decided to Short this pair, a very clear signal through the Price Action :
SELL @1.7595
STOP LOSS @1.7665
TAKE PROFIT @1.7500
It may go down, it may...
Hello Traders,
Price is forming trend continuation pattern, ther is no momentum to the upside. Look for sell as much higher as you can.
Good Luck!
Cheers,
Jonas
Hello Traders,
GBP still under pressure, it is forming trend continuation so we may see further down side. Watch to sell as much high as you can.
Good luck!
Cheers,
Jonas
