Hi I just entered this short trade on GBPNOK. My reasoning was this double top formation, with an engulfing candle printing at resistance showing bearish price action. My profit target is the next support level at around 10.6300. Thanks for reading.
Market breaks below trend line and have formed multiple retest & pullbacks from the broken trend line. I'll be settling for a sell position.
For further confirmation, input the 50, 100 & 200 EMA's for downside movement confirmation. You'll find a new phase of a downtrend forming.
Your reviews are welcomed thanks...
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This is not a trade idea for everyone we hold trades for a very long time as a portfolio hedge position (As no one position can break or make us) we are aiming British pound to rise until summer at least at the time new British PM take position in the UK.