GBPUSD SHORT BIAS
In the saying of "the trend is your friend", it wouldn't be advisable to go against the downward plummeting of most major pairs right now. The only way you can make money is when you align yourself with the direction of the trend. There's a disturbing Counter Trendline view that is currently giving price movement some headache however, judging with the strength of the fall, there's a huge possibility the trendline doesn't hold.
Retracement = Right Entry
Patience = Retracement
Therefore, Patience = Right Entry
That's some logic I did there!
Using the 50fib level of the FVG on the 4H, there should be a "Tap out" of the Breaker candle, in order to build maximum momentum for the break of the Counter Trendline, giving us a justified position into the Short trend of the market currently.
The dollar ain't done in strength yet!
Retracement = Right Entry
Patience = Retracement
Therefore, Patience = Right Entry
That's some logic I did there!
Using the 50fib level of the FVG on the 4H, there should be a "Tap out" of the Breaker candle, in order to build maximum momentum for the break of the Counter Trendline, giving us a justified position into the Short trend of the market currently.
The dollar ain't done in strength yet!
Trade active
Trade closed: target reached
I expected a bullish retracement to form for the new week, unfortunately, we had a gap open. The broken counter trendline was to be hit for a retest but the gap decided to open along the axis of the trendline.
Be cautious.
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