OANDA:GBPUSD
GBPUSD is in an overall downtrend with clear lower lows and lower highs.
It just broke support and all I am waiting for is a retest to go short
Blok has just broke the key support line, we are still bullish, as we are way above the 618 fib, but expect some downwards momentum for the time being.
Last day candle is going to close below the Strong Support line at 1860 which is considered a break in support.
If you look at the other touches I circled, no candle closed below the line without selling for a bit.
Also another reason to support this sell is the head and shoulders formation, we already have a shoulder and a head and if you look closely it’s...
TICKER: $XLF
Financial sector is the clear lead bears for the market. We rejected hard at 31.10ish level and broke key support level of 30.46. In my opinion, this is the reason why $SPY pulled back hard.
We had huge bear volume on Friday and if we break the low of Friday (30.20), look for a continue dump to fill the gap under 30.13.
Can the bears dethrone the...
Price has broken a strong daily support, it has wicked and tested area once. It has setup for a nice short, with a great R:R.
Targets and stop loss are on chart.
*Risk management is KEY!
