If I see a bearish candle without chasing the price i go short after the consolidation. Price is near the trendline, but actually it doesn't makes much sense to me, because there were a bullish impulse on 1st of September. GBP can break the trendline and go a little bit higher, but I don't think if it happens will be strong.
I'm chasing this guy since previous correction. Furtunetely, it hitted my TP before the down trend but, now I think it's over of the downmove and a long trend will start.
Unfortunately, I need to go sleep, so i have to make a sell stop order. expect some down move, then up when the correction is over. Entry when RSI=70.
I'm keep watching this pair since sunday. I expect some up move soon.
I don't like lines. I prefer zones. The logic between my idea is bulls are going to cut their profits. it means they will sell. and I want to sell w/ them. my entry is when RSI comes back to 70. If I lose it means there will be another oppurtunity on this pair soon.
Here is my idea, with an entry when RSI hit the line
I'm not 100% sure in the timing, but we'll see.
I expect a little down move. If the bulls are exhausted and in the fear of losing their profits they're gona sell. And I will join them. It can goes higher after a little correction, but after that I'm still looking for sell opportunity. My entry is when RSI comes back to 70.
I'm going to short when RSI comes back to the 70 level. With a stop at 0.87012.