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
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...
Gbpusd is showing a buy idea but decided to retrace. Gbpusd still obeys the Fibonacci rule. Tp is set on resistance 1..
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