Following the recent break down of the daily compression channel, although I think this could be a short lived move for the bears, there is a high probability that we will see that breakout retest zone hold some resistance.
There are two advanced ratio patterns completing at that level for an aggressive short for a quick one in and one out.
Good luck in the...
Its been a minute since my last post and i just want to share with you a possible bear cypher on my radar this monday on the GBPUSD
things are not looking pretty for patterns lately but this is the journey of trading that we all expect and prepare ourselves for.
plan your trade, trade your plan
Looking at this pair, like many pairs, we have seen some directional breakouts this week and last.
Price action is forming this rising channel and when we see this type of movement with RSI divergence, more often than not we see a period of relief.
Although I'm only looking for the trend continuation, many of you counter trend traders may be eyeing up this zone...