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1. Market in a channel 2. at 4hr major resistance 3. double top created 4. Bearish engulfing on second touch of DT 5. RSI divergence
Daily closed as a shooting star, we are going to see a roll off into 1.27600 to clear off retail longs.
Entry parameters for a short entry is based on the following; 1. Price action pattern (double top) at resistance zone. 2. Confirmation of bearing engulfing candle on 1hr time frame. 3. Confirmation of divergence on RSI
I entered a sell on Friday on GBPUSD to sell from 1.32974 for about 227pips. *Please do your analysis and share your thoughts. Thank you.
Hit resistance and closed below, rollover to weekly support and lows.
Wait for any channel breakout. Invalidation 1.31744
1. Weekly timeframe: - Big Bearish trend bar after Market reaching to weekly resistance zone. 2. Daily timeframe: - Market broke the uptrend structure. 3. H4 timeframe: - New resistance zone was created near the uptrend structure break. After reaching to this resistance zone, market created a new resistance zone -> This tell us about...
GBP USD For Sell After Breaking the yellow line
Fib retest then tank. Previous day also closed as a hammer.
Fib correlations with 78.6%.
Market may go for a 3 drive pattern above. If we close below the zone, we shall be in for a ride down.
Gbpusd is showing a buy idea but decided to retrace. Gbpusd still obeys the Fibonacci rule. Tp is set on resistance 1.. Do well to comment your views on GBPUSD. Do not forget to like and follow. Thanks
Today, the indicator "Kenji" on the daily GBPUSD chart generated a sell signal. Let's give some explanations on this signal. This is the ordinary signal to open the trade with a basic volume . According to the indicator, the price of GBPUSD is currently in the active uptrend phase (the area between the fast and slow averages is colored red). At the same...
Please, support this idea by like and comment. Thank you! From the beginning of May until now GBPUSD has formed a downward trend. Part of this movement I had the opportunity to participate with our previous analysis. () Now the price reaches the resistance zone and we expect to see a new...